Hypebeast : FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017

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HYPEBEAST LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 08359) FIRST QUARTERLY RESULTS ANNOUNCEMENT FOR THE THREE MONTHS ENDED 30 JUNE 2017 CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors. Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.

This announcement, for which the directors (the "Directors") of Hypebeast Limited (the "Company") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

FIRST QUARTERLY RESULTS

The board of Directors (the "Board") of the Company is pleased to announce the unaudited condensed consolidated results of the Company and its subsidiaries (collectively, the "Group") for the three months ended 30 June 2017 (the "Relevant Period"), together with the unaudited comparative figures for the corresponding period in 2016, as follows:

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (UNAUDITED)

For the three months ended 30 June 2017

Three months ended 30 June

NOTES	2017 HK$'000	2016 HK$'000
Revenue	3	68,903	46,961
Cost of revenue	(32,741)	(20,156)
Gross profit	36,162	26,805
Other gain/(losses), net	686	(298)
Selling and marketing expenses	(16,525)	(10,539)
Administrative and operating expenses	(11,612)	(10,530)
Finance costs	(73)	(110)
Profit before tax	8,638	5,328
Income tax expense	4	(1,517)	(892)
Profit and total comprehensive income for the period	7,121	4,436
Earnings per share - Basic and diluted (HK cent)	6	0.36	0.23

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (UNAUDITED)

For the three months ended 30 June 2017

Share capital Share premium Retained earnings Total

HK$'000 HK$'000 HK$'000 HK$'000

At 1 April 2017 (audited) 20,000 25,275 49,055 94,330

Profit and total comprehensive

income for the period - - 7,121 7,121

At 30 June 2017 (unaudited)	20,000	25,275	56,176 101,451
At 1 April 2016 (audited)	1	-	25,750 25,751
Capitalisation issue	15,999	(15,999)	- -
Issue of shares under placing	4,000	48,000	- 52,000
Expenses incurred in connection with
the issue of shares upon placing	-	(6,726)	- (6,726)

Profit and total comprehensive

income for the period - - 4,436 4,436 At 30 June 2016 (unaudited) 20,000 25,275 30,186 75,461

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the three months ended 30 June 2017

1. GENERAL INFORMATION

   The Company was incorporated in the Cayman Islands as an exempted company with limited liability on 25 September 2015. The registered office of the Company is located at Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands. The headquarter and principal place of business of the Company in Hong Kong is located at 12/F, 10-16 Kwai Ting Road, Kwai Chung, Hong Kong.

   The Company's issued ordinary shares of HK$0.01 each have been listed and traded on GEM since 11 April 2016 (the "Listing Date").

   Pursuant to the reorganisation of the Group (the "Reorganisation") in connection with the listing of the shares of the Company (the "Shares") on GEM (the "Listing"), the Company became the holding company of the companies comprising the Group on 30 October 2015. Details of the Reorganisation are set out in the prospectus of the Company dated 31 March 2016 (the "Prospectus") under the section headed "History, Reorganisation and Corporate Structure".

   The principal activity of the Company is investment holding. The Group's principal activities are the provision of advertising services to brand owners and advertising agencies on the Group's digital media platforms, and the sale of third-party branded clothing, shoes and accessories on the Group's e-commerce platform.

2. BASIS OF PREPARATION

The unaudited condensed consolidated financial statements of the Group for the Relevant Period have been prepared in accordance with accounting principles generally accepted in Hong Kong and comply with Hong Kong Financial Reporting Standards ("HKFRSs") issued by Hong Kong Institute of Certified Public Accountants (the "HKICPA") and the applicable disclosure requirements of the GEM Listing Rules.

HKFRSs include Hong Kong Accounting Standards and interpretations. Intra-group balances and transactions, if any, have been fully and properly eliminated. The unaudited condensed consolidated financial statements of the Group for the Relevant Period should be read in conjunction with the annual report of the Group for the year ended 31 March 2017 dated 19 June 2017 ("Annual Report"). The accounting policies and methods of computation used in the preparation of the unaudited condensed consolidated financial statements of the Group for the Relevant Period are consistent with those used in the Annual Report.

HKICPA has issued a number of new and revised HKFRSs and interpretations that are first effective or available for early adoption for the Relevant Period. There have been no significant changes to the accounting policies applied in these financial statements for the Relevant Period presented as a result of these developments.