Hang Pin Living Technology : COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

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HANG PIN LIVING TECHNOLOGY COMPANY LIMITED ؄ۜ͛ݺ߅Ҧٰ΅Ϟࠢʮ̡

(Incorporated in Bermuda with limited liability)

(Stock Code: 1682)

COMPLETION OF PLACING OF NEW SHARES

UNDER GENERAL MANDATE

Placing Agent

The Board is pleased to announce that all conditions to the Placing Agreement have been fulfilled on 1 March 2021 and the Completion took place on 4 March 2021. A total of 130,000,000 Placing Shares have been successfully placed by the Placing Agent to not less than six Placees at the Placing Price of HK$0.131 per Placing Share pursuant to the terms and conditions of the Placing Agreement.

Reference is made to the announcement of Hang Pin Living Technology Company Limited (the "Company") dated 22 February 2021 in relation to the placing of new shares under the general mandate (the "Placing Announcement"). Capitalised terms used herein shall have the same meanings as those defined in the Placing Announcement unless otherwise specified.

COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

The Board is pleased to announce that all conditions to the Placing Agreement have been fulfilled on 1 March 2021 and the Completion took place on 4 March 2021. A total of 130,000,000 Placing Shares have been successfully placed by the Placing Agent to not less than six Placees at Placing Price of HK$0.131 per Placing Share pursuant to the terms and conditions of the Placing Agreement, representing approximately 16.54% of the issued share capital of the Company as enlarged by the allotment and issue of the Placing Shares immediately upon completion of the Placing.

To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, the Placees and their respective ultimate beneficial owners (if any) are professional, institutional, or other investors who are third parties independent of the Company and its connected persons (as defined under the Listing Rules).

The net proceeds from the Placing, after deducting commission and other expenses of the Placing, amounted to approximately HK$16.63 million will be used for the development of its existing garment sourcing business, the provision of financial services business and general working capital.

EFFECT ON SHAREHOLDING STRUCTURE OF THE COMPANY

The shareholding structure of the Company immediately before and upon Completion is as follows:

Immediately before the CompletionImmediately upon the Completion

No. of Shares	Approx.%	No. of Shares	Approx.%
Shareholders
Rosy Lane International Limited
(Note 1)	322,409,404	49.15	322,409,404	41.02
Mr. Ng Leung Ho (Note 2)	103,950,000	15.85	103,950,000	13.23
Mr. Ng Tsze Lun	50,173,000	7.65	50,173,000	6.38
Placees	21,468,000	3.27	151,468,000	19.27
Other Shareholders	157,926,596	24.08	157,926,596	20.10
Total	655,927,000	100	785,927,000	100
Notes:

• 1. Rosy Lane International Limited is wholly-owned by Mr. Zhi Hua.

• 2. Apart from 103,950,000 Shares of the Company, there are also 322,326,500 Shares of the Company charged to Mr. Ng Leung Ho under a share charge as security for a loan from Bloom Dragon Finance Limited. Bloom Dragon Finance Limited is owned as to 50% by Mr. Ng Chi Lung and 50% by Good Fellow Group Limited. Good Fellow Group Limited is owned as to 99.99% by Hillbrow Securities Limited, which is wholly-owned by Mr. Ng Leung Ho.

• 3. The percentages are subject to rounding error.

On behalf of the Board

Hang Pin Living Technology Company Limited

Lam Kai Yeung

Chief Executive Officer & Executive Director

Hong Kong, 4 March 2021

As at the date of this announcement, the Board comprises Mr. Lam Kai Yeung and Mr. Situ Shilun as executive Directors, Mr. Chau On Ta Yuen, Dr. Lam Lee G and Mr. Chan Kin as independent non-executive Directors.