Boe Varitronix : THE USE OF SUBSCRIPTION PROCEEDS

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.

BOE VARITRONIX LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 710) THE USE OF SUBSCRIPTION PROCEEDS

Reference is made to the annual report for the year ended 31 December 2016 (the "Annual Report") of BOE Varitronix Limited (the "Company") and the circular of the Company dated

22 March 2016 (the "Circular"). Capitalised terms used herein shall have the same meanings as defined in the Circular unless the context requires otherwise.

The Board wishes to provide additional information to the Annual Report that as at the date of this announcement, the net proceeds of approximately HK$1,392 million from the Subscription has been fully utilized for the manner that is consistent with the intended use of proceeds of the Subscription as disclosed at the page 27 of the Circular.

By Order of the Board BOE Varitronix Limited Yao Xiangjun

Chairman

Hong Kong, dated 18 August 2017

As at the date of this announcement, the Board comprises nine Directors, of whom Mr. Yao Xiangjun, Ms. Ko Wing Yan, Samantha and Mr. Su Ning are executive Directors, Ms. Yang Xiaoping, Mr. Dong Xue and Mr. Yuan Feng are non-executive Directors, and Mr. Fung, Yuk Kan Peter, Mr. Chu, Howard Ho Hwa and Mr. Hou Ziqiang are independent non-executive Directors.

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