CCT Fortis : VOLUNTARY ANNOUNCEMENT - TERMINATION OF THE CHILD PRODUCTS TRADING BUSINESS AND THE COMPONENTS MANUFACTURING BUSINESS

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.

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 00138)

VOLUNTARY ANNOUNCEMENT

TERMINATION OF

THE CHILD PRODUCTS TRADING BUSINESS AND

THE COMPONENTS MANUFACTURING BUSINESS

The Board announces on a voluntary basis that the Industrial Products Businesses have been adversely impacted by the combined effect of keen competition, the escalating trade tensions between the United States and the PRC, the global economic downturn and the outbreak of the novel coronavirus (COVID-19). On 24 July 2020, the Company was informed by GBA Investments that the GBA Investments Group no longer needs the supply of the Component Products from the Group. As a result of the deteriorating operating environment, revenue of the Industrial Products Businesses continued to fall significantly in the six months ended 30 June 2020. No new orders have been received for a few months and there is no outstanding order on hand for the Industrial Products Businesses. It is uncertain when the global consumer market will recover. Under such circumstances, the Company has decided to terminate the Industrial Products Businesses with effect from 24 July 2020.

In respect of the financial year ended 31 December 2019, the Group reported revenue of HK$1,097 million, of which HK$91 million was contributed by the Industrial Products Businesses. In 2019, the Group recorded a net loss of HK$147 million, attributable to owner of the parent, of which an operating loss of HK$6 million was attributable to the Industrial Products Businesses. As the Industrial Products Businesses are loss-making, it is expected that the termination of the Industrial Products Businesses will not have any significant adverse impact on the operating results or financial position of the Group.

- 1 -

DEFINITIONS

In this announcement, the following expressions have the following meanings, unless the context otherwise requires:

"Board"	board of directors of the Company
"Child Products"	feeding, health care, hygiene, safety, toy and other related
	products for infants and babies
"Child Products Trading	the business of the Group in the trading of the Child Products
Business"
"Company"	CCT Fortis Holdings Limited, a company incorporated in the
	Cayman Islands and continued in Bermuda with limited
	liability, the shares of which are listed on the Main Board of
	the Stock Exchange (stock code: 138), which is a substantial
	shareholder of GBA Investments
"Components Manufacturing	the business of manufacturing of the Component Products by
Business"	the Group for supply to the GBA Investments Group for the
	Product Trading Business
"Component Products"	plastic components and any other related component products
	manufactured and supplied by the Group to the GBA
	Investments Group for the Product Trading Business
"Director(s)"	director(s) of the Company from time to time
"GBA Investments"	Greater Bay Area Investments Group Holdings Limited, a
	company incorporated in Bermuda with limited liability, the
	shares of which are listed on the Main Board of the Stock
	Exchange (stock code: 261)
"GBA Investments Group"	GBA Investments and its subsidiaries from time to time
"Group"	the Company and its subsidiaries from time to time
"HK$"	Hong Kong dollar, the lawful currency of Hong Kong
"Hong Kong"	the Hong Kong Special Administrative Region of the PRC
"Industrial Products	the Child Products Trading Business and the Components
Businesses"	Manufacturing Business
"PRC"	the People's Republic of China

- 2 -

"Product Trading Business"	the business activities of the GBA Investments Group in the
	trading of indoor-used cordless phones, other related telecom
	and electronic products and the supply of the Child Products
	by the GBA Investments Group to the Group for the Child
	Products Trading Business
"Stock Exchange"	The Stock Exchange of Hong Kong Limited

By Order of the Board

CCT FORTIS HOLDINGS LIMITED

Cheng Yuk Ching, Flora

Executive Director

Hong Kong, 24 July 2020

As at the date of this announcement, the executive Directors are Mr. Mak Shiu Tong, Clement, Mr. Tam Ngai Hung, Terry and Ms. Cheng Yuk Ching, Flora and the independent non-executive Directors are Mr. Tam King Ching, Kenny, Mr. Chen Li and Mr. Chow Siu Ngor.

- 3 -