PacRay International : SUPPLEMENTAL ANNOUNCEMENT

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.

PacRay International Holdings Limited

(Incorporated in Bermuda with limited liability)

(Stock code: 1010)

SUPPLEMENTAL ANNOUNCEMENT

Reference is made to (i) the announcement (the "Acquisition Announcement") of PacRay International Holdings Limited (the "Company") dated 14 February 2020 in relation to the acquisition of 20.2% equity interest in Red Power Developments Limited (the "Acquisition"); (ii) the announcements (the "Extension Announcements") of the Company dated 31 March 2020, 29 April 2020, 1 June 2020 and 15 July 2020 in relation to the extension of the long stop date to complete the Acquisition to 15 August 2020. Unless the context otherwise requires, capitalized terms used herein shall have the same meanings as those defined in the Acquisition Announcement and the Extension Announcements.

As disclosed in the Extension Announcements, the Long Stop Date has been extended to 15 August 2020. As additional time is required to fulfill the Conditions, including the Company having completed the due diligence of the Target Company to its full satisfaction at its sole discretion, on 14 August 2020 (after the trading hours of the Stock Exchange), the Company and the Vendor entered into a fifth extension letter to extend the Long Stop Date to 15 September 2020 or any later date as agreed by the parties (the "Fifth Extension"). Save and except for the Fifth Extension, all other terms of the Sale and Purchase Agreement remain unchanged and are in full force and effect. The Board considers that the Fifth Extension is on normal commercial terms and fair and reasonable, and is in the best interest of the Company and its shareholders as a whole.

Completion is subject to the fulfillment of the Conditions and therefore may or may not proceed. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the Shares.

By Order of the Board

PacRay International Holdings Limited

Lau Mei Ying

Executive Director

Hong Kong, 14 August 2020

As at the date of this announcement, the Board of the Company comprises nine Directors. The executive Directors are Mr. Yang Lin, Ms. Lau Mei Ying, Mr. Leung Pok Man, Ms. Li Weina and Mr. Xu Yinsheng; the non-executive Director is Mr. Zhou Danqing; and the independent non-executive Directors are Ms. Ching Ching, Ms. Weng Yuzhen and Dr. Zhang Shengdong.