Hailan : FURTHER DELAY IN DESPATCH OF CIRCULAR GRANT OF WAIVER UNDER RULE 14.41(A) OF THE LISTING RULES

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Hailan Holdings Limited

海 藍 控 股 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 2278)

FURTHER DELAY IN DESPATCH OF CIRCULAR

GRANT OF WAIVER UNDER RULE 14.41(A) OF THE LISTING RULES

Reference is made to the announcements of Hailan Holdings Limited (the ''Company'') dated 25 September 2020, 5 November 2020, 1 December 2020 and 25 January 2021 and 29 January 2021 regarding the First Acquisition Agreement, the Second Acquisition Agreement and the Third Acquisition Agreement and the formation of the JV Company which constitute a major and connected transaction of the Company under Chapter 14 and Chapter 14A of the Listing Rules (the ''Announcements''). Unless the context requires otherwise, capitalized terms used herein shall have the same meanings as ascribed to them in the Announcements.

As disclosed in the Announcements, the Circular containing further details in relation to the Relevant Transactions was expected to be despatched to the Shareholders on or before 26 March 2021. Additional time is required for the Company to prepare and finalize certain information to be included in the Circular, as it takes longer than expected for the Company to obtain the above financial and other information due to the busy audit season. The Company has applied and the Stock Exchange has granted a waiver from strict compliance with Rule 14.41(a) of the Listing Rules on the condition that the Circular would be despatched to the Shareholders on or before 28 May 2021.

By order of the Board

Hailan Holdings Limited

Chairperson

Zhou Li

The PRC, 1 April 2021

As at the date of this announcement, the executive Directors are Ms. Zhou Li, Ms. Fan Wenyi and Mr. Chen Xiang; and the independent non-executive Directors are Mr. Li Yong, Dr. Zhao Guoqing and Mr. Deng Shaochao.