Wah Ha Realty : Positive Profit Alert

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WAH HA REALTY COMPANY LIMITED

(Incorporated in Hong Kong with Limited Liability)

(Stock Code: 278)

POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09(2) of the Listing Rules and Inside Information Provisions under Part XIVA of the SFO.

The Board wishes to inform the Shareholders and potential investors that, based on the Board's preliminary assessment of the unaudited consolidated management accounts of the Group for the YR 2021 and other information currently available to the Company, the Group is expected to record a profit of about HK$3 million for the YR 2021 as compared to a loss of HK$49 million for the YR 2020.

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

This announcement is made by Wah Ha Realty Company 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 (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the Board's preliminary assessment of the unaudited consolidated management accounts of the Group for the year ended 31 March 2021 (the "YR 2021") and other information currently available to the Company, the Group is expected to record a profit of about HK$3 million for the YR 2021 as compared to a loss of HK$49 million for the year ended 31 March 2020 (the "YR 2020"). The turn-around from loss to profit was primarily due to (i) a considerable reduction in the aggregate fair value losses arising from revaluations of the investment properties of the Group and its associated companies as compared to that for the YR 2020 and (ii) an exchange gain arising from the appreciation of Renminbi for the YR 2021 as compared to an exchange loss for the YR 2020, nothwithstanding that there were declines in rental income and interest income as well as the absence of realized profit from the sale of properties for the YR 2021.

The Company is still in the process of finalizing the annual results of the Group for the YR 2021. The information contained in this announcement is only based on the information currently available to the Company and such information has not been audited or reviewed by the Company's auditor or audit committee. Shareholders and potential investors are advised to read carefully the annual results announcement of the Company for the YR 2021 which is expected to be published in late June 2021.

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

On behalf of the Board

Wah Ha Realty Company Limited

Cheung Kee Wee

Chairman

Hong Kong, 19 April 2021

As at the date of this announcement, the Board comprises Messrs Cheung Kee Wee, Cheung Lin Wee and Cheung Ying Wai, Eric as Executive Directors, Mr. Ng Kwok Tung as Non-executive Director and Messrs Chan Woon Kong, Au-Yang Cheong Yan, Peter, Chan Wing Tat and Kok Lap Seng as Independent Non-executive Directors.