Long Well International : INSIDE INFORMATION A WRIT OF SUMMONS

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.

LONG WELL INTERNATIONAL HOLDINGS LIMITED

久 康 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 850)

INSIDE INFORMATION

A WRIT OF SUMMONS

This announcement is made by Long Well International Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rules 13.09(2)(a) and 13.24A of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

On 21 April 2021, the Company received a writ of summons (the "Writ of Summons") dated 20 April 2021 issued by an individual (the "Plaintiff") against the Company under action number HCA 584 of 2021 for alleged breach under a subscription agreement entered into between the Company and the Plaintiff on 5 March 2014, under which the Plaintiff agreed to subscribe a debenture in the sum of HK$10,000,000 to be issued by the Company (the "Debenture"). The maturity date of the Debenture was 4 March 2021 and the interest of the Debenture was 5% per annum. The orders sought by the Plaintiff against the Company under the Writ of Summons are (i) the sum of HK$10,500,000 being the principal and outstanding interest of the Debenture; (ii) interest; (iii) costs; and (iv) further and/or other relief.

The Company is currently seeking legal advice in respect of the Writ of Summons and will make further announcement(s) in due course as to any material development in connection with the proceedings.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 9:00 a.m. on 3 July 2018 and will remain suspended until further notice.

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Further announcement(s) will be made by the Company to inform the Shareholders and potential investors of any material development relating to the captioned matters as and when appropriate.

By Order of the Board

Long Well International Holdings Limited

Huang Guobiao

Chairman

Hong Kong, 22 April 2021

As at the date of this announcement, the Board comprises (i) five executive Directors, namely Mr. Huang Guobiao, Mr. Wong Kwok Leung (suspension of duties), Professor Kwong Ser Yuen Albert, Mr. Lee Siu Fung and Mr. Zhang Jiajun; (ii) one non-executive Director, namely Mr. Wu Hao; and (iii) two independent non-executive Directors, namely Mr. Cheung Kwan Hung and Mr. Lam Tze Chung Felix.

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