Vision Fame International : UPDATE ON PROGRESS OF RESUMPTION

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Vision Fame International Holding Limited

允 升 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1315)

UPDATE ON PROGRESS OF RESUMPTION

This announcement is made by Vision Fame International Holding Limited (the ''Company'') pursuant to Rule 13.24A of the Listing Rules.

Reference is made to the announcements of the Company dated 16, 19 and 30 November 2018, 9 and 24 January 2019, 8 March 2019, 6 June 2019, 13 June 2019, 23 August 2019 and 3 September 2019 (the ''Prior Announcements''). Capitalised terms used herein shall have the same meanings as those defined in the Prior Announcements unless the context requires otherwise.

RECENT DEVELOPMENT

The Board would like to update the Shareholders as follows:

1. The Board has received a draft internal control report from the internal control consultant and is reviewing such report;
2. The Board is in the process of reviewing the preliminary report of the Forensic Review. The Company will publish an announcement to update the Shareholders in respect of, among other things, the results of the Forensic Review after the report from the Forensic Team is finalized; and
3. The Company currently expects that the publication of the 2018 Interim Results will be further delayed and will update the Shareholders about the expected publication date of the 2018 Interim Results as and when appropriate.

UPDATE ON BUSINESS OPERATIONS OF THE GROUP

The Group is engaged principally in (i) provision of building construction services, property maintenance services, alterations, renovation, upgrading and fitting-out works services; and (ii) graphene production and trading of materials.

The Board is in the process of evaluating the prospect and future development of graphene production business.

The Group has continued its normal business operations for other business segments.

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CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares on the Stock Exchange has been suspended with effect from 9:00 a.m. on 3 December 2018. Trading in the Shares will remain suspended until further notice.

By order of the Board

Vision Fame International Holding Limited

Chau Chit

Chairman and Chief Executive Officer

Hong Kong, 3 December 2019

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Chau Chit, Mr. Xie Xiaotao and Mr. Zhu Xiaodong; and three independent non-executive Directors, namely Mr. Tam Tak Kei Raymond, Mr. Wong Kai Tung Simon and Mr. Wong Wai Kwan.

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