Miko International : EXPECTED DECREASE IN REVENUE AND NET LOSS

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MIKO INTERNATIONAL HOLDINGS LIMITED

米 格 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1247)

EXPECTED DECREASE IN REVENUE AND NET LOSS

This announcement is made by Miko International Holdings Limited (the "Company", together with its subsidiaries, the "Group") in accordance with Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) concerning disclosure of inside information and Rule 13.09(2) (a) of the Rules Governing the Listing of Securities on the Main Board of The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board ("Board") of directors ("Directors") of the Company wishes to inform the shareholders of the Company and potential investors that, based on the preliminary assessment of the information currently available:

1. the Board expects to record a significant decrease in revenue by approximately 25% for the six months ended 30 June 2020 as compared to the revenue for the six months ended 30 June 2019; and
2. the Board expects to record a significant decrease in net loss by approximately 60% for the six months ended 30 June 2020 as compared to the net loss for the six months ended 30 June 2019.

The decrease in revenue for the six months ended 30 June 2020 was primarily due to the low demand of the consumer market resulting from the outbreak of coronavirus globally ("COVID-19") during the period.

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The decrease in net loss for the six months ended 30 June 2020 was primarily due to the sharply decrease in bad debts written off on trade receivables, selling and distribution expenses and administrative and other operating expenses as a result of the stringent control measures during the period.

The information contained in this announcement is based on the preliminary assessment of the information currently available to the Board and not on any figures or information which have been reviewed by the Company's audit committee. The unaudited consolidated interim results of the Group may be subject to adjustments following further review by the Company's audit committee and the Board. The Group's interim results for the six months ended 30 June 2020 are expected to be announced by 28 August 2020 in compliance with the Listing Rules.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Miko International Holdings Limited

Ding Peiji

Chairman

Hong Kong

20 August 2020

As at the date of this announcement, our executive Directors are Mr. Ding Peiji, Mr. Ding Peiyuan and Ms. Ding Lizhen; and our independent non-executive Directors are Mr. Hung Cho Sing, Mr. Chan Wai Wong and Mr. Wu Shiming.

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