Pa Shun International : WINDING-UP PETITION HEARING ADJOURNED

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.

Pa Shun International Holdings Limited

百 信 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 574)

WINDING-UP PETITION HEARING ADJOURNED

("Announcements") in relation to the Petition. Capitalised terms used in this announcement shall have the same meanings as defined in the Announcements.

The Board announces that (i) as the Company has not fully complied with the settlement agreement entered into between the Company and the Petitioner, the Petitioner applied to the High Court to bring forward the hearing of the Petition to a date in early May 2021; and (ii) on 3 May 2021, it was heard at the High Court before a Companies Judge and the hearing of the Petition is adjourned to 8 July 2021.

Further announcement(s) will be published as and when necessary to keep the shareholders and potential investors informed of any significant development of the Petition.

On behalf of the Board

Pa Shun International Holdings Limited

Professor Xiao Kai

Chairman and Executive Director

Hong Kong, 4 May 2021

As at the date of this announcement, the executive Directors are Professor Xiao Kai, Mr. Shen Shun and Mr. Yang Bo; the non-executive Directors are Mr. Zhang Xiongfeng, Mr. Hu Haisong and Mr. Wu Guohua; and the independent non-executive Directors are Mr. Cao Lei, Mr. Ng Wai Tsan and Mr. Chen Yongsheng.