Sunway International : SUPPLEMENTAL 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.

SUNWAY INTERNATIONAL HOLDINGS LIMITED

新威 國際控 股有限公司 *

(Incorporated in Bermuda with limited liability)

(Stock code: 58)

SUPPLEMENTAL ANNOUNCEMENT

Reference is made to the Annual Report of Sunway International Holdings Limited (the "Company") for the year ended 31 December 2019 published on 29 May 2020 (the "Annual Report") and the announcements of the Company dated 13 March 2019 and 27 March 2019 respectively in respect of the subscription of new shares under general mandate (the "Announcements"). Unless otherwise stated, capitalised terms herein shall bear the meanings as defined in the Annual Report and the Announcements.

In the Announcements and the Annual Report, the Company disclosed that on 13 March 2019, the Company entered into a subscription agreement with a subscriber to allot and issue 124,800,000 ordinary shares of HK$0.1 each to the subscriber at a price of HK$0.136 per share ("Subscription"). The share allotment was completed on 27 March 2019 and the net proceeds of approximately HK$16.7 million raised from the Subscription ("Net Proceeds") would be used for general working capital purposes.

The Company wishes to disclose further details in respect of the breakdown of the usage of the Net Proceeds, the intended use of any unutilized Net Proceeds as at 31 December 2019 and the expected timeline pursuant to paragraph 11(8) of Appendix 16 to the Listing Rules.

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As at 31 December 2019, a total of approximately HK$14.1 million out of the Net Proceeds had been used for general working capital purposes set out as follows:

Usage of Net Proceeds	Approximately
(as at 31 December 2019)	Amount
		(HK$ million)
Group's rental related expenses	3.8
Payment of staff and directors' remuneration	2.1
Legal and professional fees	7.2
Administration related expenses	1.0
Total
14.1

As at 31 December 2019, the unutilized Net Proceeds amounted to a total of approximately HK$2.6 million, which was intended and had been fully used for general working capital purposes for the period from January to March 2020 set out as follows:

Usage of unutilized Net Proceeds	Approximately
(as at 31 March 2020)	Amount
	(HK$ million)
Group's rental related expenses	1.0
Payment of staff and directors' remuneration	0.8
Legal and professional fees	0.7
Sundry related expenses	0.1
Total
2.6

The Net Proceeds had been used in accordance with the intention previously disclosed by the Company in the Announcements and the Annual Report and there was no material change or delay in the use of the Net Proceeds.

By order of the Board of

Sunway International Holdings Limited

Law Chun Choi

Executive Director and Company Secretary

Hong Kong, 17 August 2020

As at the date of this announcement, the Board comprises three executive Directors, namely, Mr. Fok Po Tin, Mr. Li Chongyang and Mr. Law Chun Choi, one non-executive Director, namely, Mr. Lum Pak Sum, and three independent non-executive Directors, namely, Mr. Choi Pun Lap, Mr. Tong Leung Sang and Mr. Chan Sung Wai.

In case of any inconsistency, the English text of this announcement shall prevail over the Chinese.

Website: http://www.hk0058.com

• For identification purpose only

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