Wai Kee : DISCLOSEABLE TRANSACTION TERMINATION OF DISPOSAL OF PROPERTY

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 KEE HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 610)

DISCLOSEABLE TRANSACTION

TERMINATION OF DISPOSAL OF PROPERTY

Reference is made to the announcement of Wai Kee Holdings Limited (the "Company") dated 4th June, 2020 (the "Announcement") in relation to the disposal of the Property pursuant to the Purchase and Sale Agreement. Terms defined in the Announcement shall have the same meanings when used herein unless the context requires otherwise.

On 20th July, 2020 (USA time), the Seller received a notice from the Purchaser to terminate the Purchase and Sale Agreement.

While at the same time the Purchaser has requested further extension of due diligence period (which was extended to 20th July, 2020), the Seller has decided not to further proceed with the Disposal under the Purchase and Sale Agreement. The Seller will continue its effort to dispose of the Property.

By Order of the Board

Wai Kee Holdings Limited

Anriena Chiu Wai Yee

Company Secretary

Hong Kong, 23rd July, 2020

As at the date of this announcement, the Board comprises three executive directors, namely Mr. William Zen Wei Pao, Mr. Derek Zen Wei Peu and Miss Anriena Chiu Wai Yee, two non-executive directors, namely Mr. Brian Cheng Chi Ming and Mr. Ho Gilbert Chi Hang, and three independent non-executive directors, namely Dr. Steve Wong Che Ming, Mr. Samuel Wan Siu Kau and Mr. Francis Wong Man Chung.