CN Logistics International : VOLUNTARY ANNOUNCEMENT BUSINESS UPDATE IN RELATION TO THE COMPLETION OF EXPANSION OF THE SEMI-AUTOMATED DISTRIBUTION CENTRE

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CN Logistics International Holdings Limited ྗحيݴ਷ყછٰϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2130)

VOLUNTARY ANNOUNCEMENT

BUSINESS UPDATE IN RELATION TO THE COMPLETION OF EXPANSION OF THE SEMI-AUTOMATED DISTRIBUTION CENTRE

This announcement is made by CN Logistics 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 of the Company and potential investors informed of the latest business developments of the Group.

The board (the "Board") of directors (the "Directors") of the Company is pleased to announce the completion of expansion (the "Expansion") of the semi-automated distribution centre of the Group in Shanghai, and such centre has commenced operation in February 2021.

In view of a strong surge in the sales of luxury products in the PRC and the increasing demand for the relevant air freight forwarding services and distribution and logistics services of the customers of the Group, in particular of high-end fashion products, it is expected that the Expansion will attract more customers in the high-end fashion industry to engage the Group to provide both freight forwarding services and distribution and logistics services.

The Group has expanded its semi-automated distribution centre in Shanghai by conducting internal refurbishment, installing additional conveyor belt and control system. Below are the summary of approximate capacity boost after the Expansion:

After

the

ExistingExpansion

Change

Business to Business ("B2B") annual operations capacity (pieces)

10,220,000

17,279,000 +69.1%

Business to Consumer ("B2C")

annual operations capacity (order)

Storage capacity (pieces)

365,000 746,800

790,000 +116.0%

1,319,000 +76.6%

The Board believes that this expanded semi-automated distribution centre would become the flagship distribution centre of the Group to support the foreseeable increasing orders on hand, to further demonstrate the strong B2B and B2C distribution and logistics capability of the Group and to attract potential customers. Please also refer to the section headed "Business - Business Strategies and Future Plans - Expansion in the PRC" in the prospectus of the Company dated 30 September 2020 for further details of the Expansion.

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

By order of the Board

CN Logistics International Holdings Limited

Ngan Tim Wing

Executive Director and Chief Executive Officer

Hong Kong, 25 February 2021

As at the date of this announcement, the Board comprises Mr. Ngan Tim Wing, Ms. Chen Nga Man and Mr. Cheung Siu Ming Ringo as the executive Directors; Mr. Lau Shek Yau John as the non-executive Director; and Mr. Lam Hing Lun Alain, Mr. Chan Chun Hung Vincent and Mr. Chun Chi Man as the independent non-executive Directors.