Elife : FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO MAJOR AND CONNECTED TRANSACTION

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: 223)

FURTHER DELAY IN DESPATCH OF CIRCULAR IN RELATION TO

MAJOR AND CONNECTED TRANSACTION

References are made to the announcement (the "Announcement") of Elife Holdings Limited dated 27 November 2020 in relation to the major and connected transaction (as clarified and supplemented in the clarification and supplemental announcement of the Company dated 31 March 2021) in respect of the Share Transfer Agreement and the announcements of the Company dated 17 December 2020, 14 January 2021, 24 February 2021 and 31 March 2021 (the "Delay Announcements") in relation to delay in despatch of the Circular. Capitalised terms used herein shall have the same meanings as defined in the Announcement and the Delay Announcements unless the context requires otherwise.

As disclosed in the Announcement and the Delay Announcements, a circular (the "Circular") containing, amongst other things, (i) further information of the Acquisition;

1. the recommendation of the Independent Board Committee to the Independent Shareholders in relation to the Share Transfer Agreement and the grant of the Specific Mandate; (iii) the advice of the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders in relation to the Acquisition, the Share Transfer Agreement and the grant of the Specific Mandate; (iv) the valuation report; and

1. notice of the EGM, is expected to be despatched to the Shareholders on or before 30 April 2021.

As additional time is required to finalise certain information in the Circular, the Circular is expected to be despatched to the Shareholders on or before 31 May 2021.

By order of the Board

Elife Holdings Limited

Zhang Xiaobin

Chairman

Hong Kong, 3 May 2021

As at the date of this announcement, the executive Directors are Mr. Zhang Xiaobin, Mr. Gao Feng and Mr. Chiu Sui Keung and the independent non-executive Directors are Mr. Cheng Wing Keung Raymond, Mr. Lam Williamson, Mr. Wong Hoi Kuen and Dr. Lam Lee G.