Evershine : 30 Oct 2019 PROFIT WARNING

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.

Evershine Group Holdings Limited

永耀集團控股有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 8022)

PROFIT WARNING

This announcement is made by Evershine Group Holdings Limited (the "Company", together with its subsidiaries as the "Group") pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the "GEM Listing Rules") and the Inside Information Provisions (as defined under the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the "Board") of directors (the "Directors") of the Company wishes to inform the shareholders of the Company and potential investors that, based on a preliminary review of the unaudited financial information of the Group and information currently available to the Board for the nine months ended 30 September 2019 (the "Current Period"), the Group is expected to record a loss of approximately HK$21 million for the Current Period as compared to the loss of approximately HK$101 million for the nine months ended 30 September 2018 (the "Prior Period").

Based on information currently available to the Board, the expected decrease in loss was mainly due to (i) the gain on fair value change of convertible notes and derivative of approximately HK$7 million (Prior Period: nil) and HK$2 million (Prior Period: nil) respectively; (ii) gross profit of approximately HK$2 million (Prior Period: nil) generated from the properties sales in the ordinary course of a Turkey subsidiary's business; and (iii) no impairment loss on an intangible asset - operating right of the cemetery for the Current Period (Prior Period: approximately HK$68 million).

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The Company is still in the process of finalising the consolidated results of the Group for the nine months ended 30 September 2019 (the "Third Quarterly Results"). The two under - construction properties held by a subsidiary in Turkey are originally expected to be completed by 30 September 2019. However, the constructions are still in progress and the promissory note of approximately USD1.1 million (deferred consideration) has not been issued on 30 September 2019.

The information contained in this announcement is only based on the Board's preliminary assessment of the unaudited consolidated management accounts of the Group and the information currently available which have not been audited by the auditor of the Company. The information contained in this announcement may be different from the Third Quarterly Results of the Group to be published. Further details of the Group's financial results will be disclosed as and when the Group publishes its results for the nine months ended 30 September 2019 which is expected to be published on 8 November 2019.

Shareholders of the Company and potential investors should exercise caution when dealing in the shares and securities of the Company.

By order of the Board

Evershine Group Holdings Limited

Hung Tat Chi Alan

Executive Director

Hong Kong, 30 October 2019

As of the date hereof, the executive Directors are Mr. Hung Tat Chi Alan and Mr. Ling Ko Yin Jason; the non-executive Director is Mr. Chan Wai Kit; and the independent non-executive Directors are Ms. Choy So Yuk, BBS, JP, Ms. Lam Yuk Ying Elsa and Mr. Leung Man Chun.

This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM for the purpose of giving information with regard to the Company. The directors of the Company, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive; and (2) there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the "Latest Company Announcement" page of the GEM website at http://www.hkgem.com for at least 7 days from the date of its posting and on the website of the Company at www.evershinegroup.com.hk.

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