Wai Chun Bio Technology : CANCELLATION OF PROPOSED ISSUE OF CONVERTIBLE BONDS

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.

瑋 俊 生 物 科 技 有 限 公 司

Wai Chun Bio-Technology Limited

(Incorporated in the Cayman Islands with limited liabilities)

(Stock Code: 0660)

CANCELLATION OF PROPOSED ISSUE

OF CONVERTIBLE BONDS

Reference is made to the announcement of Wai Chun Bio-Technology Limited (the "Company") dated 28 July 2020, in connection with the proposed issue of convertible bonds under specific mandate. Capitalised terms used herein shall have the same meaning as those defined in the announcement unless stated otherwise.

In light of the changes in the market environment, the parties to the Subscription Agreement considered to put off proceeding with the Subscription to further assess the circumstances surrounding the Subscription. As such, on 9 September 2020 (after trading hours of the Stock Exchange), the Company and the Subscriber entered into a cancellation agreement to cancel the Subscription Agreement with immediate effect.

Upon such termination, all rights and obligations of the parties shall cease to have effect and no party shall have any claim against each other in connection with the Subscription Agreement. The Board considers that cancellation of the Subscription Agreement will not have any material adverse impact on the existing business, operational or financial conditions of the Group.

Since the Subscription Agreement and the transactions contemplated thereunder have been terminated, no special general meeting will be convened and held by the Company for shareholders to consider and approve the Subscription Agreement and the transactions contemplated thereunder. Therefore, no circular will be dispatched by the Company.

By order of the Board

Wai Chun Bio-Technology Limited

LAM Ching Kui

Chairman and Chief Executive Officer

Hong Kong, 9 September 2020

As at the date of this announcement, the Board consists of one executive Director, namely Mr. Lam Ching Kui (Chairman and Chief Executive Officer) and three independent non-executiveDirectors, namely Mr. Chan Chun Wai, Tony, Mr. Hau Pak Man and Mr. Li Jinyuan.