Wai Chi : INSIDE INFORMATION - STRIKE OUT OF WINDING UP PETITION

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.

Wai Chi Holdings Company Limited

偉志控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1305)

INSIDE INFORMATION -

STRIKE OUT OF WINDING UP PETITION

This announcement is made by Wai Chi Holdings Company Limited (the "Company") pursuant to Rule 13.09(1) and (2)(a) and Rule 13.25(1)(b) 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 Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)).

Reference is made to the announcements (the "Previous Announcements") made by the Company dated 17 July 2020, 24 July 2020, 4 August 2020 and 10 August 2020 respectively, in relation to a petition for the winding up of the Company (the "Petition") filed by Financial Asia Limited (the "Petitioner"). Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those defined in the Previous Announcements.

STRIKE OUT OF THE PETITION

The Board of Directors of the Company is pleased to further update the Shareholders and potential investors of the Company with respect to the summons dated 24 July 2020 filed with the High Court to apply for an order to strike out the Petition (the "Application") that the Hearing on the Application was held at 10:00 a.m. on 26 August 2020 (Wednesday) and the High Court has ordered, among other things, that the Petition be struck out and costs be paid by the Petitioner to the Company on an indemnity basis.

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The Company will keep its shareholders and potential investors updated and further announcement(s) will be made by the Company as and when appropriate in relation to any further development in connection with the matter.

By order of the Board

Wai Chi Holdings Company Limited

Yiu Chi To

Chairman

Hong Kong, 26 August 2020

As at the date of this announcement, the executive Directors of the Company are Mr. Yiu Chi To (Chairman), Mr. Chen Chung Po (Chief Executive Officer), Ms. Yiu Kwan Yu, Mr. Chen Wei Wu and Ms. Yong Jian Hui; and the independent non-executive Directors are Mr. Au Yeung Tin Wah, Mr. Chen Kwok Wang and Mr. Ho Chi Wai.

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