Boshiwa International : DELAY IN PUBLICATION OF 2020 INTERIM RESULTS AND DESPATCH OF 2020 INTERIM REPORT

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BOSHIWA INTERNATIONAL HOLDING LIMITED

博士蛙國際控股有限公司

(Provisional Liquidators Appointed)

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1698)

DELAY IN PUBLICATION OF 2020 INTERIM RESULTS AND DESPATCH OF

2020 INTERIM REPORT

This announcement is made by Boshiwa International Holding Limited (Provisional Liquidators Appointed) (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.49(6) of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 7 March 2016, 8 April 2016, 9 May 2016, 24 June 2016, 2 August 2016, 26 August 2016, 31 October 2016, 30 November 2016, 9 December 2016, 22 February 2017, 24 April 2017, 2 June 2017, 7 August 2017, 31 October 2017, 12 January 2018, 28 February 2018, 27 April 2018, 29 May 2018, 29 June 2018, 1 August 2018, 1 November 2018, 4 February 2019, 28 March 2019, 30 April 2019, 7 August 2019, 30 September 2019, 1 November 2019, 9 January 2020, 31 January 2020, 31 March 2020, 29 April 2020, 6 May 2020 and 31 July 2020 in relation to, among others, the update on suspension of trading of the Shares (the "Announcements"). Unless otherwise stated, capitalised terms used in this announcement shall bear the same meanings as defined in the Announcements.

DELAY IN PUBLICATION OF 2020 INTERIM RESULTS AND DESPATCH OF 2020 INTERIM REPORT

Pursuant to Rules 13.49(6) and 13.48(1) of the Listing Rules, the Company is required to publish its preliminary results in respect of the first six month of the financial year ended 30 June 2020 (the "2020 Interim Results") no later than 31 August 2020, and to send the interim report for the same financial year (the "2020 Interim Report") to its shareholders (the "Shareholders") on or before 30 September 2020. As at the date of this announcement, given the limitation in respect of the resources available to the Company, the Company is still in the course of coordinating with its auditors to arrange for the audit of the financial statements of the Group for the first six month of the financial year ended 30 June 2020. Accordingly, there will be a delay in the publication of the 2020 Interim Results and the despatch of the 2020 Interim Report. The Company will publish the 2020 Interim Results and 2020 Interim Report as

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soon as practicable.

Rule 13.49(6) of the Listing Rules also provides that where an issuer is unable to issue its preliminary results of the first six month of the financial year ended 30 June 2020, it must announce its results based on the financial results which have yet to be agreed with the auditor (so far as the information is available). The Company considers that it would not be appropriate for the Company to publish the unreviewed management accounts of the Group for the first six month of the financial year ended 30 June 2020 which have yet to be reviewed by the auditor (the "2020 Unreviewed Interim Management Accounts") at this time as it is expected that there may be adjustment on the 2020 Unreviewed Interim Management Accounts and hence the 2020 Unreviewed Interim Management Accounts may not truly and fairly reflect the financial performance and position of the Group. The Company is therefore of the view that the publication of the 2020 Unreviewed Interim Management Accounts at this time may cause confusion to the Shareholders and potential investors.

Further announcement(s) will be made by the Company to provide updates to the shareholders on the publication of the 2020 Interim Results and the despatch of the 2020 Interim Report, as and when appropriate.

CONTINUED SUSPENSION OF TRADING

Trading in the shares of the Company on the Stock Exchange will remain suspended until further notice.

Further announcement(s) will be made by the Company to update the shareholders of the Company on the development of the Company as and when appropriate pursuant to the requirements of the Listing Rules.

For and on behalf of

Boshiwa International Holding Limited

(Provisional Liquidators Appointed)

Stephen Liu Yiu Keung

David Yen Ching Wai

Keiran Hutchison

Joint Provisional Liquidators

who act without personal liabilities

Hong Kong, 28 August 2020

As at the date of this announcement, the executive directors of the Company are Mr. Zhong Zheng Yong, Ms. Chen Li Ping and Mr. Chen Pei Qi.

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