Lee Hing Development : Inside Information (1) Delay in Publication of the 2020 Annual Results; (2) Postponement of Board Meeting; and (3) Continue Suspension of Trading

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LEE HING DEVELOPMENT LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 68)

INSIDE INFORMATION

(1) DELAY IN PUBLICATION OF THE 2020 ANNUAL RESULTS;

(2) POSTPONEMENT OF BOARD MEETING; AND

(3) CONTINUE SUSPENSION OF TRADING

This announcement is made by Lee Hing Development Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rules 13.09(2)(a) and 13.49(3)(i) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVAof the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the "SFO").

DELAY IN PUBLICATION OF THE ANNOUNCEMENT IN RELATION TO THE 2020 ANNUAL RESULTS

Pursuant to Rule 13.49(1) of the Listing Rules, the Company is required to publish an announcement in relation to its preliminary results in respect of the financial year ended 31

December 2020 (the "2020 Annual Results") not later than three months after the end of the financial year of the Company, i.e. on or before 31 March 2021. Under Rule 13.49(2) of the Listing Rules, the preliminary announcement in relation to the 2020 Annual Results shall be based on the Company's financial statements for the year ended 31 December 2020 which shall have been agreed with the auditor.

The board of directors (the "Board") of the Company wishes to announce that the publication of the announcement in relation to the 2020 Annual Results will be delayed as additional time is required in order to obtain further information required by the Company and the auditors of the Company in connection with, among others, further information relating to the valuation of a property of an associate company locate in Thailand. The Board acknowledges that any delay in publishing the announcement in relation to the 2020 Annual Results will constitute non-compliance with Rule 13.49(1) of the Listing Rules.

Rule 13.49(3) of the Listing Rules provides that where an issuer is unable to issue its preliminary results in accordance with Rules 13.49(1) and (2) of the Listing Rules, it must announce its results based on the financial results that have yet to be agreed with the auditor (so far as the information is available). The Board, after due and careful consideration, is of the view that it would not be appropriate for the Company to publish the unaudited management accounts of the Company for the 2020 Annual Results at this stage given that the Company intends to publish the 2020 Annual Results on 13 April 2021 and that the unaudited management accounts may not accurately reflect the financial performance and position of the Company.

POSTPONEMENT OF THE BOARD MEETING

In light of the delay in the publication of the 2020 Annual Results, the Board meeting in respect of reviewing and approving, among other matters, the 2020 Annual Results will be postponed to 13 April 2021.

Please refer to the announcement on change of date of board meeting of the Company of even date.

CONTINUE SUSPENSION OF TRADING

Trading in the shares of the Company on the Stock Exchange has been suspended with effect from 9:00 a.m. on 17 March 2021 and will remain suspended.

By order of the Board

Lee Hing Development Limited

Tan Boon Seng Chairman and Managing Director

Hong Kong, 29 March 2021

As at the date of this announcement, the Board comprises two executive Directors, Mr. Tan Boon Seng and Mr. Chan Kai Kwok; and three independent non-executive Directors, Mr. Ho Hau Chong, Norman, Mr. Fung Ka Pun and Mr. Lim Lay Leng.