Regina Miracle International : VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE IN RELATION TO THE OUTBREAK OF NOVEL CORONAVIRUS

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Regina Miracle International (Holdings) Limited

維珍妮國際（控股）有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2199)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE IN RELATION TO

THE OUTBREAK OF NOVEL CORONAVIRUS

This announcement is made by Regina Miracle International (Holdings) Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis. The purpose of this announcement is to keep the shareholders and potential investors of the Company informed of the latest business developments of the Group amid the recent novel coronavirus (COVID-19) epidemic (the "Epidemic") outbreak.

The development of the Epidemic has resulted in emergency public health measures taken by the government of People's Republic of China (the "PRC") across multiple provinces and municipalities in the PRC to curb the spread of the Epidemic, including imposing restrictions on the resumption date of work after the Lunar New Year holidays.

Since the end of January, the board of directors (the "Board") has timely set up an Emergency Response Unit in response to the Epidemic and adopted stringent measures aiming at reducing the impact that the Epidemic may bring to our business, while keeping the health and safety of our employees as the top priority.

Corresponding to various measures taken by the PRC government to contain the Epidemic, the Group was inevitably affected by the overall delay in resumption of operations across the nation and the general disruptions to the supply chain during February. Nonetheless, the Group's factory in Shenzhen has resumed operation on 10 February 2020 with gradual resumption of manpower phase by phase complying with local government authorities' guidelines to manage the return of employees in an orderly manner. As of the date of this Announcement, over 80% of our employees in Shenzhen have resumed work.

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On the other hand, the Group's Vietnam operations, which is the principal production base of the Group, has resumed operation from the Lunar New Year holidays on 31 January 2020 as planned, with return rate of employees similar to that of previous years. While the Group's Vietnam operations since its resumption after the Lunar New Year holidays had largely been normal, part of its production capacity was affected by temporary shortage of raw materials supply from the PRC in the first few weeks in February.

Although the relevant measures taken by the PRC government to control the Epidemic have caused the delay in resumption of operations and the temporary under-staffed situation mainly in February in the Group's Shenzhen factory, coupled with the general disruptions in the supply chain in the PRC have resulted in a temporary drop in production capacity in February and hence potential delivery delays in February and March, the Group expects that the situation will gradually be back to normal as the Group and its supply chain partners resume operation and production. The Group will remain in close contacts and liaison with both its customers and supply chain partners to closely follow up the delivery schedules, and act in its best endeavors to minimise any possible negative impact on its sales orders pending for delivery.

The Board will continue to monitor the development of the Epidemic, and assess the potential risks and impact that it may have on the Group's operational and financial performance. The Group will take appropriate measures and business decisions in response while complying with the guidelines and arrangements of the local government, and make further announcement as and when appropriate.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Regina Miracle International (Holdings) Limited

Mr. Hung Yau Lit (also known as YY Hung)

Chairman

Hong Kong, 28 February 2020

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Hung Yau Lit (also known as YY Hung), Mr. Yiu Kar Chun Antony, Mr. Liu Zhenqiang, Mr. Chen Zhiping and Ms. Sze Shui Ling as executive Directors, and Dr. Or Ching Fai, Mrs. To Wong Wing Yue Annie and Ms. Tam Laiman as independent non-executive Directors.

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