Pine Technology : CHANGE OF AUDITOR

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PINE TECHNOLOGY HOLDINGS LIMITED

松景科技控股有限公司*

(Incorporated in Bermuda with limited liability)

(Stock code: 1079)

CHANGE OF AUDITOR

This announcement is made by the board of directors (the "Board") of PINE Technology Holdings Limited (the "Company") pursuant to Rule 13.51(4) of the Rules Governing the Listing of

Securities on The Stock Exchange of Hong Kong Limited.

The Board announces that Deloitte Touche Tohmatsu ("Deloitte") has resigned as auditor of the Company with effect from 21 June 2019. Deloitte stated in their letter of resignation that, as part of their normal procedures which include an annual consideration of whether they would continue to act for their audit clients, having taken into account factors including the level of audit fees, their available internal resources in light of their current work flows and the professional risk associated with the audit, they decided to tender their resignation as the auditor of the Company. Deloitte, in their letter of resignation, confirmed that there are no other circumstances connected with their resignation that should be brought to the attention of the shareholders (the "Shareholders") and creditors of the Company.

The Board, with the recommendation from the audit committee of the Company, has resolved to appoint Zhonghui Anda CPA Limited as the auditor of the Company with effect from 21 June 2019 to fill the casual vacancy following the resignation of Deloitte and to hold office until the conclusion of the next annual general meeting of the Company.

Both the Board and the audit committee confirmed that there is no disagreement between the Company and Deloitte and there are no matters or circumstances in respect of the change of the auditor which should be brought to the attention of the Shareholders and creditors.

The Board further confirmed that Deloitte has not commenced any audit work on the financial statements of the Group for the financial year ending 30 June 2019. The Board believes that the change of auditor will not have any impact on the annual audit of the Company for the financial year ending 30 June 2019.

The Board would like to express its sincere gratitude to Deloitte for their professional services provided to the Company in the past years.

By the order of the Board of

PINE Technology Holdings Limited

Zhang Sanhuo

Chairman

Hong Kong, 21 June 2019

As at the date of this announcement, the executive Directors are Mr. Zhang Sanhuo, Mr. Chan Cheuk Ho and Mr. Chiu Hang Tai; and the independent non-executive Directors are Mr. So Stephen Hon Cheung, Mr. Zhou Chunsheng and Mr. Tian Hong.

* For identification purpose only