Prosperity International H K : INSIDE INFORMATION - UPDATE ON WINDING UP PETITION

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PROSPERITY INTERNATIONAL HOLDINGS (H.K.) LIMITED 昌 興 國 際 控 股（香 港）有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

(Stock Code: 803)

INSIDE INFORMATION - UPDATE ON WINDING UP PETITION

This announcement is made by Prosperity International Holdings (H.K.) Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the provisions concerning disclosure of inside information 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 dated 29 November 2019 titled "Inside Information (1) Winding Up Petition; and (2) Application for Appointment of Joint Provisional Liquidators", the announcement of the Company dated 15 June 2020 titled "Inside Information Update on Appointment of Joint Provisional Liquidators for Restructuring Purposes" and the announcement of the Company dated 18 February 2021 titled "Inside Information - Update on Winding Up Petition" (collectively, the "Announcements"). Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

The Company wishes to inform the shareholders and the potential investors of the Company that the Summons was re-listed for hearing on 19 February 2021. The Bermuda Court has ordered, among others that the winding up petition be re-listed for mention on 26 February 2021.

The Company will make further announcements to update the shareholders of the Company and potential investors on the development of the Summons as and when appropriate. As of the

* for identification purpose only

date of this announcement, the Company and its subsidiaries are still carrying out their day-to-day operations under the management of the Board.

Shareholders and potential investors of the Company should exercise caution when they deal or contemplate dealing in the Company's shares or other securities of the Company.

By order of the Board

Prosperity International Holdings (H.K.) Limited

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

Xie Qiangming

Chairman and Chief Executive Officer

Hong Kong, 24 February 2021

As at the date of this announcement, the executive Director is Mr. Xie Qiangming (Chairman and Chief Executive Officer) and the independent non-executive Director is Mr. Yan Xiaotian.