High Fashion International : SUPPLEMENTAL ANNOUNCEMENT - DISCLOSEABLE TRANSACTION - ENTERING INTO CONSTRUCTION CONTRACT

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SUPPLEMENTAL ANNOUNCEMENT

DISCLOSEABLE TRANSACTION

ENTERING INTO CONSTRUCTION CONTRACT

Reference is made to the announcement issued by High Fashion International Limited (the "Company") dated 10 August 2020 in relation to entering into construction contract (the "Announcement"). Unless otherwise specified in this announcement, terms used herein shall have the same meanings as those defined in the Announcement.

The Company wishes to provide further information on the identity of the ultimate beneficial owners of Zhejiang Futai. As at the date of the Announcement, Zhejiang Futai is owned as to 56.25% by Wang Linjuan（王林娟）, 32.50% by Wang Shangjie（汪尚杰）and 11.25% by Shentu Xiamei（申屠夏妹）.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiry, Zhejiang Futai and its ultimate beneficial owners as mentioned above are independent third parties independent of the Company and its connected persons (as defined under the Listing Rules).

Save as disclosed in this announcement, all information in the Announcement remains unchanged.

By Order of the Board

High Fashion International Limited

Lam Gee Yu, Will

Executive Director & Managing Director

Hong Kong, 13 August 2020

As at the date of this announcement, the Board comprises of (1) Executive Directors: Mr. Lam Foo Wah, Mr. Lam Gee Yu, Will, Mr. Lam Din Yu, Well and Ms. So Siu Hang, Patricia; (2) Non-executive Directors: Professor Yeung Kwok Wing and Mr. Hung Ka Hai, Clement; and (3) Independent Non-executive Directors: Mr. Wong Shiu Hoi, Peter, Mr. Leung Hok Lim and Mr. Chung Kwok Pan.