Powerlong Commerical Management : VOLUNTARY ANNOUNCEMENT ON-MARKET SHARE BUYBACK UNDER THE SHARE BUYBACK MANDATE

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Powerlong Commercial Management Holdings Limited

寶 龍 商 業 管 理 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9909)

VOLUNTARY ANNOUNCEMENT

ON-MARKET SHARE BUYBACK

UNDER THE SHARE BUYBACK MANDATE

This is a voluntary announcement made by Powerlong Commercial Management Holdings Limited (the "Company").

The board of directors of the Company (the "Board") hereby announces that on 30 January 2020, pursuant to the share buyback mandate granted by the then shareholders of the Company through written resolutions passed on 10 December 2019, the Company bought back 500,000 ordinary shares of the Company at the highest and lowest prices of HK$9.50 and HK$9.21 per share respectively (the "Share Buy-back").

The aggregate purchase price paid (excluding commission and other expenses) for the Share Buy-back was approximately HK$4,694,460 and was financed by the Company's internal resources. The shares bought back represent approximately 0.08% of the existing total number of issued shares of the Company as at the date of this announcement. The Company will subsequently cancel the shares bought back as a result of the Share Buy-back.

The Share Buy-back was made upon taking into consideration of the Company's current cash flow from operational activities. The Share Buy-back also reflects the confidence of the Board and the management team in the long-term strategy and the prospects of the Company. Accordingly, the Company considers that the Share Buy-back is in the best interest of the Company and its shareholders as a whole.

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The Company may make further buy-back depending on market conditions. Shareholders and investors should note that whether or not to buy back any further shares will be subject to market conditions and will be further subject to the Board's absolute discretion. There is no assurance of the timing, quantity or price of any share buy-backor whether the Company will make any further buy-backat all. Shareholders and investors are reminded to exercise caution when dealing in the securities of the Company.

By order of the Board

Powerlong Commercial Management Holdings Limited

Hoi Wa Fong

Chairman

Hong Kong, 30 January 2020

As at the date of this announcement, the Board comprises of two executive Directors, namely, Mr. Hoi Wa Fong and Mr. Zhang Yunfeng, two non-executive Directors, namely, Ms. Hoi Wa Fan and Ms. Hoi Wa Lam and three independent non-executive Directors, namely, Ms. Ng Yi Kum, Estella, Mr. Chan Wai Yan, Ronald and Dr. Lu Xiongwen.

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