Easyknit International : JOINT ANNOUNCEMENT - TERMINATION OF AGREEMENT FOR VERY SUBSTANTIAL ACQUISITION BY EASYKNIT INTERNATIONAL HOLDINGS LIMITED AND CONNECTED TRANSACTION AND VERY SUBSTANTIAL DISPOSAL BY EMINENCE ENTERPRISE LIMITED

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint 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 joint announcement.

EASYKNIT INTERNATIONAL	EMINENCE ENTERPRISE LIMITED
HOLDINGS LIMITED	高山企業有限公司
永義國際集團有限公司	(Incorporated in Bermuda with limited liability)
(Incorporated in Bermuda with limited liability)	(Stock Code: 616)
(Stock Code: 1218)

JOINT ANNOUNCEMENT

TERMINATION OF AGREEMENT FOR VERY SUBSTANTIAL

ACQUISITION BY EASYKNIT INTERNATIONAL HOLDINGS LIMITED

AND

CONNECTED TRANSACTION AND VERY SUBSTANTIAL

DISPOSAL BY EMINENCE ENTERPRISE LIMITED

Reference is made to the joint announcement issued by Easyknit International Holdings Limited and Eminence Enterprise Limited dated 9 November 2020 in relation to, among other things, the Sale and Purchase Agreement referred to in it (the "Announcement"), as well as to subsequent joint announcements dated 4 January 2021, 22 January 2021, 19 February 2021 and 31 March 2021.

Unless otherwise stated, capitalized terms used herein shall have the same meanings as those defined in the Announcement. This joint announcement is made pursuant to Rule 14.36 of the Listing Rules.

TERMINATION OF THE SALE AND PURCHASE AGREEMENT

Eminence became a subsidiary of Easyknit upon completion of the share offer made by Easyknit in the composite document jointly issued by Ace Winner Investment Limited (a wholly-owned subsidiary of Easyknit) and Eminence dated 26 March 2021 (the "Offer Document") on 21 April 2021. It was disclosed in the Offer Document that Easyknit would together with Eminence review Easyknit's and Eminence's respective businesses and operations. As part of that review, Easyknit and Eminence agreed to terminate the Sale and Purchase Agreement with immediate effect and entered into a termination agreement (the "Termination Agreement") on 30 April 2021 (after trading hours of the Stock Exchange). Pursuant to it, amongst other things, the Seller shall refund the Deposit of HK$10,000,000 to

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the Purchaser, no parties shall have any claims against each other, all the rights and obligations of the parties under the Sale and Purchase Agreement shall be terminated and shall have no further effect, and the parties release each other from all obligations under the Sale and Purchase Agreement with effect from the date of the Termination Agreement.

As the Sale and Purchase Agreement and the transactions contemplated thereunder have been terminated, neither the Easyknit SGM nor the Eminence SGM will be convened and no joint circular will be despatched in respect of the Sale and Purchase Agreement.

By order of the Easyknit Board	By order of the Eminence Board
EASYKNIT INTERNATIONAL	EMINENCE
HOLDINGS LIMITED	ENTERPRISE LIMITED
Koon Ho Yan Candy	Lai Law Kau
President and Chief Executive Officer	Chairman and Chief Executive Officer

Hong Kong, 30 April 2021

As at the date hereof, the Easyknit Board comprises Ms. Koon Ho Yan Candy, Ms. Lui Yuk Chu and Mr. Tse Wing Chiu Ricky as executive Easyknit Directors; and Mr. Tsui Chun Kong,Mr. Jong Koon Sang and Mr. Lau Chak Hang Charles as independent non-executive Easyknit Directors.

As at the date hereof, the Eminence Board comprises Mr. Lai Law Kau, Ms. Lui Yuk Chu and Mr. Kwong Jimmy Cheung Tim as executive Eminence Directors; and Mr. Kan Ka Hon, Mr. Lau Sin Ming and Mr. Wu Koon Yin Welly as independent non-executive Eminence Directors.

In case of any inconsistency, the English version of this joint announcement shall prevail over the Chinese version.

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