National Investments Fund : DELAY IN PUBLICATION OF ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2020 AND DELAY IN DESPATCH OF ANNUAL REPORT

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.

(In Liquidation)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1227)

DELAY IN PUBLICATION OF ANNUAL RESULTS

FOR THE YEAR ENDED 31 DECEMBER 2020

AND

DELAY IN DESPATCH OF ANNUAL REPORT

This announcement is made by National Investments Fund Limited (In Liquidation) (the "Company") pursuant to Rules 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of the Company released on 10 February 2021 in relation to the liquidation of the Company.

DELAY IN PUBLICATION OF THE ANNOUNCEMENT IN RELATION TO THE 2020 ANNUAL RESULTS AND IN THE DESPATCH OF 2020 ANNUAL REPORT

Pursuant to Rules 13.49(1) and 13.46(2) of the Listing Rules, the Company is required to publish an announcement in relation to its preliminary results in respect of the financial year ended 31 December 2020 (the "2020 Annual Results") not later than three months after the end of the financial year of the Company, i.e. on or before 31 March 2021, and to dispatch the corresponding annual report ("2020 Annual Report") to its shareholders ("Shareholders") not later than four months after the end of the financial year of the Company, i.e. on or before 30 April 2021.

The Liquidators are taking steps to ascertain the current state of affairs of the Company. Preparation of the financial statements of the Company for the year ended 31 December 2020 has therefore been delayed thereby affecting the publication of the 2020 Annual Results and 2020 Annual Report, which has also been delayed and will continue to be delayed.

Further announcement(s) will be made to inform the Shareholders of the date of release of the 2020 Annual Results and 2020 Annual Report, when appropriate.

CONTINUED SUSPENSION OF TRADING

Trading in the shares of the Company on the Stock Exchange, which has been suspended with effect from 11:20 a.m. on 8 February 2021, remains suspended and will continue to be so until further notice.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.

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The Company will make further announcements as and when appropriate.

If the shareholders of the Company have any query about the implications of the continued suspension of the trading, they should obtain appropriate professional advice.

For and on behalf of

National Investments Fund Limited

(In Liquidation)

Man Chun So

Yat Kit Jong

Joint and Several Liquidators

acting as agents without personal liabilities

Hong Kong, 9 April 2021

On the basis of the information available from the previous announcements made by the Company, immediately before the winding up order was granted against the Company, the Board of the Company comprises an executive Director, namely Mr. Chan Cheong Yee; three non-executive Directors, namely Mr. Wang Ning (Chairman), Ms. Xie Xiangrong and Mr. Huang Hu; and three independent non-executive Directors, namely Mr. Li Li, Mr. Liao Kai and Ms. Wu Xiaoxia.

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