Sunlight Technology : COMPLETION OF PLACING OF NEW SHARES UNDER GENERAL MANDATE

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SUNLIGHT TECHNOLOGY HOLDINGS LIMITED

深 藍 科 技 控 股 有 限 公 司

(Incorporated in Cayman Islands with limited liability)

(Stock Code: 1950)

COMPLETION OF PLACING OF NEW SHARES

UNDER GENERAL MANDATE

Placing Agent

結好 證 券 有限公司

GET NICE SECURITIES LIMITED

Reference is made to the announcement of Sunlight Technology Holdings Limited (the "Company") dated 22 March 2021 in relation to the Placing (the "Announcement"). Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as defined in the Announcement.

The Board is pleased to announce that all conditions to the Placing Agreement have been fulfilled and completion of the Placing took place on 9 April 2021. A total of 200,000,000 Placing Shares have been successfully placed by the Placing Agent to not less than six Placees at the Placing Price of HK$0.240 per Placing Share pursuant to the terms and conditions of the Placing Agreement, representing (i) 20.00% of the issued share capital of the Company immediately before completion of the Placing; and (ii) approximately 16.67% of the issued share capital of the Company as enlarged by the allotment and issue of the Placing Shares immediately upon completion of the Placing.

To the best of the Directors' knowledge, information and belief, having made all reasonable enquiries, the Placees and their respective ultimate beneficial owners (if any) are professional, institutional, or other investors who are third parties independent of the Company and its connected persons. None of the Placees has become a substantial shareholder of the Company as a result of the Placing.

The net proceeds (after deducting the placing commission and other related expenses and professional fees) from the Placing amounted to approximately HK$46.5 million. The Company intends to use such net proceeds for the general working capital and future investment of the Group as and when opportunities arise but no specific investment targets have been identified yet as at the date of this announcement.

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EFFECT ON SHAREHOLDING STRUCTURE

Set out below is the shareholding structure of the Company immediately before and upon the completion of the Placing:

	Immediately before the	Immediately after the
	completion of the Placing	completion of the Placing
	Number of		Approximate	Number of	Approximate
	Shares	%	Shares	%
Shareholders
Sunlight Global Investment
Limited ("Sunlight Global")
(Note 1)	495,350,000	49.54	495,350,000	41.28
Lilian Global Investment Limited
("Lilian Global") (Note 2)	170,150,000	17.01	170,150,000	14.18
Sub-total	665,500,000	66.55	665,500,000	55.46
Public Shareholders:
Placees	-		-	200,000,000	16.67
Others	334,500,000	33.45	334,500,000	27.87
Total
1,000,000,000	100.00	1,200,000,000	100.00

Notes:

1. The issued voting share capital of Sunlight Global are held as to 61.20% by Mr. Chen Hua, 13.24% by Ms. Zhu Jianqin, 13.24% by Mr. Li Xiangyu, 9.24% by Mr. He Zhangcai, 2.14% by Mr. Chen Yong, 0.54% by Mr. Cai Jianming and 0.40% by Mr. Zhao Xuesheng.
2. Lilian Global is wholly-owned by Ms. Liu Jing.

By Order of the Board

Sunlight Technology Holdings Limited

Ms. Liu Jing

Chairman and Executive Director

Hangzhou, PRC, 9 April 2021

As at the date of this announcement, the Board comprises Ms. Liu Jing, Mr. Chen Hua, Ms. Zhu Jianqin and Mr. Li Xiangyu as executive Directors; Mr. Tian Jingyan, Mr. Ho Ho Tung Armen and Ms. Yu Zhen as independent non-executive Directors.

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