Long Well International : CLARIFICATION ANNOUNCEMENT

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.

LONG WELL INTERNATIONAL HOLDINGS LIMITED

久 康國 際控股有 限公司

(formerly known as "Tou Rong Chang Fu Group Limited 投融長富集團有限公司")

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 850)

CLARIFICATION ANNOUNCEMENT

Reference is made to the announcement (the "Announcement") of Long Well International Holdings Limited (the "Company") dated 6 January 2020 in relation to, among other things, the appointment of executive Directors. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context requires otherwise.

The Company wishes to clarify that Professor Kwong is interested in 100,000 shares of the Company, representing approximately 0.001% of the issued share capital of the Company. Save as disclosed above, as at the date of this announcement, Professor Kwong did not have any interest in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Save as disclosed in the Announcement, as at the date of this announcement, each of Professor Kwong and Mr. Lee (i) did not hold any directorship in any public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years preceding the date of this announcement, nor did he hold any other position with the Company and other members of the Group or possess any other major appointments or professional qualifications; and (ii) did not have any relationship with any Directors, senior management or substantial or controlling shareholder (as defined in the Listing Rules) of the Company.

Except as stated above, all the information in the Announcement remains unchanged.

1

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 9:00 a.m. on 3 July 2018 and will remain suspended until further notice pending fulfilment of the resumption guidance as set out in the announcement of the Company dated 14 September 2018.

Further announcement(s) will be made by the Company to inform the Shareholders and potential investors of any material development relating to the captioned matters as and when appropriate.

By order of the Board

Long Well International Holdings Limited

Huang Guobiao

Chairman

Hong Kong, 12 February 2020

As at the date of this announcement, the Board comprises (i) four executive Directors, namely Mr. Huang Guobiao, Mr. Wong Kwok Leung, Professor Kwong Ser Yuen Albert and Mr. Lee Siu Fung; (ii) two non-executive Directors, namely Mr. Poon Wai Kong and Mr. Wu Hao; and (iii) one independent non-executive Director, namely Mr. Cheung Kwan Hung.

2