Keyne : SUPPLEMENTAL ANNOUNCEMENT - PROFIT WARNING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

KEYNE LTD

*

(formerly known as Nine Express Limited) (incorporated in Bermuda with limited liability)

(Stock Code: 00009)

SUPPLEMENTAL ANNOUNCEMENT -

PROFIT WARNING

References are made to (i) the announcements of Keyne Limited (the "Company") dated 18 January 2021, 16 February 2021 and 15 March 2021 in relation to, among other things, the possible offer in light of the appointment of receivers over all the issued shares of Keyne Holdings Limited, the controlling shareholder of the Company which holds approximately 58.10% of the issued shares in the Company; and (ii) the announcement (the "Profit Warning Announcement") of the Company dated 29 March 2021 in relation to the expected loss attributable to the owners of the Company for the year ended 31 December 2020 (the "Profit Warning").

The Profit Warning included in the Profit Warning Announcement constitutes a profit forecast under Rule 10 of The Code on Takeovers and Mergers of Hong Kong (the "Takeovers Code") and should be reported on by the Company's financial advisers and auditors or accountants in accordance with Rule 10.4 of the Takeovers Code. In view of the requirements of timely disclosures of the inside information under Rule 13.09 of the Listing Rules and the Inside Information Provisions, the Company is required to issue this announcement as soon as practicable and given the time constraints, the Company has encountered genuine practical difficulties (time-wise or otherwise) in meeting the reporting requirements set out in Rule 10.4 of the Takeovers Code.

Under Rule 10.4 of the Takeovers Code, if the Profit Warning is published first in an announcement, it must be repeated in full, together with the reports from the Company's financial advisers and auditors or accountants on the said profit forecast, in the next document to be sent to the shareholders of the Company (the "Shareholders' Document"). However, if the final results announcement of the Company for the year has been published by the time of release of the next Shareholders' Document and the relevant results together with the notes to the financial statements are included in the next Shareholders' Document, the requirements to report on the Profit Warning under Rule 10.4 of the Takeovers Code will be superseded. The final results announcement of the Company for the year ended 31 December 2020 is expected to be published by 30 March 2021.

* for identification purpose only

Shareholders and potential investors of the Company should note that the Profit Warning has not been reported on in accordance with the requirements under Rule 10 of the Takeovers Code and does not meet the standard required by Rule 10 of the Takeovers Code.

Shareholders and potential investors of the Company should therefore exercise caution in placing reliance on the Profit Warning when dealing in the securities of the Company.

By order of the Board

KEYNE LTD

ZHANG LI

Executive Director and Chief Executive Officer

Hong Kong, 29 March 2021

As at the date of this announcement, the Board comprises six Directors. The executive Directors are Ms. Qian Ling Ling (Chairman), Mr. Zhang Li (Chief Executive Officer) and Mr. Xiang Junjie; and the independent non-executive Directors are Mr. Tsui Pui Hung, Mr. Tang Ping Sum and Mr. Chiu Sin Nang, Kenny.

The Directors jointly and severally accept full responsibility for the accuracy of information contained in this announcement, and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.