General Announcement::Positive Profit Alert

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COURAGE INVESTMENT GROUP LIMITED

勇利投資集團有限公司

(Incorporated in Bermuda with limited liability) (Hong Kong Stock Code: 1145) (Singapore Stock Code: CIN)

POSITIVE PROFIT ALERT

This announcement is made by Courage Investment Group Limited (the "Company", and 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 Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Board of Directors (the "Board") of the Company wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on a preliminary review of the unaudited management accounts of the Group for the six months ended 30 June 2021 ("HY2021"), the Group expects to record a profit attributable to owners of the Company for HY2021 of not less than US$0.5 million as compared to the loss of approximately US$1.3 million recorded for the six months ended 30 June 2020 ("HY2020"). Such turnaround of the Group's results is mainly attributed to (i) the decrease in fair value of an investment property of approximately US$0.04 million for HY2021 is less than its comparable of approximately US$1.1 million recorded in HY2020; and (ii) the absence of the net decrease in fair value of financial assets at fair value through profit or loss of approximately US$0.7 million recorded in HY2020.

The Company is in the process of finalising the interim results of the Group for HY2021. The information contained in this announcement is only based on a preliminary assessment by the Board according to the unaudited management accounts of the Group for HY2021. Accordingly, the Group's actual results for HY2021 may differ from the information contained in this announcement.

Further details of the Group's financial results and performance will be disclosed in the interim results announcement of the Company for HY2021 which is expected to be announced before the end of August 2021.

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

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By Order of the Board

Courage Investment Group Limited

Feng Xiaogang

Chairman

Hong Kong, 20 July 2021

As at the date of this announcement, the Board comprises three Executive Directors, namely Dr. Feng Xiaogang (Chairman), Ms. Wang Yu and Ms. Sin Pui Ying; and three Independent Non- executive Directors, namely Mr. Zhou Qijin, Mr. Pau Shiu Ming and Mr. Tsao Hoi Ho.

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