Miko International : EXPECTED DECREASE IN REVENUE AND NET LOSS

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MIKO INTERNATIONAL HOLDINGS LIMITED

Ϸࣸ਷ყછٰϞࠢʮ̡

(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:

• (i) the Board expects to record a significant decrease in revenue by approximately 30% for the year ended 31 December 2020 as compared to the revenue for the year ended 31 December 2019; and

• (ii) the Board expects to record a significant decrease in net loss by over approximately 70% for the year ended 31 December 2020 as compared to the net loss for the year ended 31 December 2019.

The decrease in revenue for the year ended 31 December 2020 was primarily due to the low demand of the consumer market resulting from the outbreak of coronavirus globally ("COVID-19") during the year.

The decrease in net loss for the year ended 31 December 2020 was primarily due to the sharp decrease in bad debts written off on trade receivables, write down on inventories, impairment loss recognised on goodwill and intangible assets, and selling and distribution expenses as a result of the stringent control measures during the year.

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 consolidated annual results of the Group may be subject to adjustments following further review by the Company's audit committee and the Board. The Group's annual results for the year ended 31 December 2020 are expected to be announced by 9 March 2021 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

1 March 2021

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.