Elife : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE 2019 ANNUAL REPORT AND THE 2020 ANNUAL REPORT

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 223)

SUPPLEMENTAL ANNOUNCEMENT

IN RELATION TO THE 2019 ANNUAL REPORT

AND THE 2020 ANNUAL REPORT

References are made to the annual reports of Elife Holdings Limited (the "Company", together with its subsidiaries, the "Group") for the year ended 31 March 2019 (the "2019 Annual Report") and the year ended 31 March 2020 (the "2020 Annual Report") published on 23 July 2019 and 17 July 2020, respectively. Capitalised terms used herein shall have the same meanings as defined in the 2019 Annual Report and the 2020 Annual Report unless the context requires otherwise.

In addition to the information provided in the 2019 Annual Report and the 2020 Annual Report, the following is an extract note of loss from operating activities which including the other operating expenses of the Group for the year ended 31 March 2019 and the year ended 31 March 2020:

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LOSS FROM OPERATING ACTIVITIES

The Group's loss from operating activities is arrived at after charging/(crediting):

Cost of inventory sold

Depreciation of property, plant and equipment* Depreciation of right-of-use-assets*

Loss on written off of property, plant and equipment* Legal and professional fee*

Building management fee* Motor vehicle expenses* Travelling expenses*

Net allowance for expected credit losses

• allowance for expected credit losses
• • on trade receivables
• allowance for expected credit losses
• • on other receivables
• reversal of allowance for expected credit losses
• • on trade receivables
• reversal of allowance for expected credit losses
• • on other receivables

Staff costs (including directors' remuneration (Note 10))*

• - wages and salaries
• - equity-settledshare-based payment
• - retirement benefits scheme contributions

Auditors' remuneration*

- audit services

Expenses relating to short-term lease* Loss on lease termination*

Minimum lease payments under operating lease*   rentals of office premises

*  Expenses included in the "other operating expenses"

2020 2019

HK$'000 HK$'000

54,142	81,029
6,506	7,058
3,174	-
-	54
5,712	8,398

1. 1,035

1. 1,647

1,232 3,423

1,696 1,030

7,585 73,376

1. (299)

1. (420)

8,846 73,687

29,445	36,514
763		-
1,614	2,328
31,822	38,842

700 700

150	-
210	-

• 3,074

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The additional information set out above does not affect other information contained in the 2019 Annual Report and the 2020 Annual Report.

By Order of the Board

Elife Holdings Limited

Zhang Xiaobin

Chairman

Hong Kong, 7 August 2020

As at the date of this announcement, the executive Directors are Mr. Zhang Xiaobin, Mr. Gao Feng, Mr. Chiu Sui Keung and Mr. Sun Qiang, and the independent non-executive Directors are Mr. Cheng Wing Keung Raymond, Mr. Lam Williamson, Mr. Wong Hoi Kuen and Dr. Lam Lee G.

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