Da Yu Financial : Completion of Discloseable and Connected Transaction in relation to the Acquisition of Morton Securities Limited

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 with limited liability)

(Stock code: 1073)

COMPLETION OF DISCLOSEABLE AND CONNECTED TRANSACTION

IN RELATION TO THE ACQUISITION OF

MORTON SECURITIES LIMITED

References are made to the announcements of Da Yu Financial Holdings Limited (the "Company") dated 21st September, 2020 (the "First Announcement") and 29th December, 2020 respectively in relation to, among others, the Acquisition. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the First Announcement.

The Board is pleased to announce that all conditions precedent set out in the Sale and Purchase Agreement have been fulfilled or waived and the Acquisition is completed on 29th March, 2021. Upon Completion, the Target Company has become a wholly-owned subsidiary of the Company and the financial statements of the Target Company are consolidated into the financial statements of the Company.

As disclosed in the First Announcement, the Consideration for the Acquisition is HK$9,500,000. In the Sale and Purchase Agreement, the Vendor agrees to pay the Company, in the case of the net asset value of the Target Company as at Completion being less than HK$9,500,000, the shortfall amount. As at Completion, the net asset value of the Target Company is approximately HK$7,140,000 and, accordingly, the Consideration has been reduced to approximately HK$7,140,000.

By Order of the Board

DA YU FINANCIAL HOLDINGS LIMITED

Lee Wa Lun, Warren

Managing Director

Hong Kong, 29th March, 2021

As at the date of this announcement, the Executive Directors are Mr. Lee Wa Lun, Warren (Managing Director), Mr. Lam Chi Shing and Ms. Li Ming, the Non-Executive Directors are Mr. Li Chi Kong (Chairman) and Mr. Kuo Jen-Hao, and the Independent Non-Executive Directors are Mr. Chan Sze Chung, Mr. Suen Chi Wai and Mr. Sum Wai Kei, Wilfred.