(Incorporated in Bermuda on 30 August 2002) (Company Registration Number 32514)

DISPOSAL OF PROPERTY UNIT LOCATED IN SHANGHAI

The Board of Directors of Karin Technology Holdings Limited (the "Company" or together with its subsidiaries, the "Group") wishes to announce that it has via an indirect wholly-owned subsidiary, Karin International Trading (Shanghai) Company Limited, on 22 November 2021, entered into an agreement with 上海隆登企業有限公司, an independent third party, to dispose of its ownership of Unit 704 on Level 7, Tower 1, Kerry Everbright City, No. 218 Tian Mu Road West, Zhabei District, Shanghai, PRC (the "Property") for a cash consideration of RMB 3,284,370 (equivalent to HKD 4,008,902) ("Disposal").

The Consideration was arrived at after arm's length negotiations and on a willing buyer and willing seller basis and having regard to the valuation of the Property carried out by an independent third- party valuer commissioned by the Company. Based on the valuation report, the current market value of the Property as at 30 June 2021, was approximately HKD 3.6 million. Based on the latest audited consolidated financial statements of the Group for the year ended 30 June 2021, the book value and net tangible asset value attributable to the Property was approximately HKD 3.6 million. The Property had been classified as part of "Investment properties" in the audited financial statements.

As all of the relative figures for the Disposal computed on the applicable bases set out in Rule 1006 of the the listing manual of the Singapore Exchange Securities Trading Limited ("Listing Manual") are less than 5%, the Disposal constitutes a non-discloseable transaction for the purposes of the Listing Manual.

The Disposal is not expected to have a material impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 30 June 2022.

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect (other than through their shareholdings in the Company) in the Disposal.

By Order of the Board

Wong Chi Cheung, Clarence

Financial Controller /Joint Company Secretary

26 November 2021

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Karin Technology Holdings Limited published this content on 26 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 November 2021 09:39:09 UTC.