Hop Hing : UNAUDITED OPERATIONAL UPDATE FOR THE FIRST QUARTER ENDED 31 MARCH 2021

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HOP HING GROUP HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(STOCK CODE: 47)

UNAUDITED OPERATIONAL UPDATE

FOR THE FIRST QUARTER ENDED 31 MARCH 2021

The Board announces the unaudited operational update of the Group's Business for the first quarter ended 31 March 2021.

This announcement is made by the Company pursuant to Rule 13.09(2)(a) of the Listing Rules and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors (the ''Board'') of Hop Hing Group Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') hereby announces the following operating information of the Group's business (the ''Business'') for the three months ended 31 March 2021. This announcement is made by the Company pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The operating information of the Business of the Group for the three months ended 31 March 2021 is as follows:

	For the Three Months Ended
	31 March 2021
Increase in sales (Y-o-Y % change)	41.6%
Increase in same-store sales (Y-o-Y % change)	38.9%
Net decrease in store number	4
Number of stores as at 31 March 2021	576

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The business environment in the first quarter of 2021 was still affected by the COVID-19 pandemic. A small-scale outbreak in northern China in late 2020 continued into the first quarter of 2021, however, the impact was relatively mild compared to early 2020 when the Group had to suspend a number of stores in response to the pandemic. The Group's sales and same-store sales in the first quarter of this year recorded growth compared to the same period last year due to the Group's active investment in the delivery business and the launch of ''Family Kitchen'' products, which allowed customers to purchase and enjoy the Group's products under different circumstances despite the pandemic. Due to the natural expiry of store leases and the need for location adjustments, the number of stores of the Group recorded a net decrease of 4 to 576 during the quarter under review.

Below are the details of the Group's footprint in China:
	Net change in
	the number of	Number of
	stores in the	stores as at
	first quarter	31 March
	of 2021	2021
Yoshinoya
Beijing-Tianjin-Hebei Province Metropolitan Region	(3)	253
Other northern areas of China(1)	3		130
Henan Province(2)	-		7
Sub-Total	-	390
Dairy Queen
Beijing-Tianjin-Hebei Province Metropolitan Region	(5)	137
Other northern areas of China(1)	1		48
Sub-Total	(4)	185
Others
Beijing-Tianjin-Hebei Province Metropolitan Region	-		1
Total	(4)	576

1. Including Liaoning, Heilongjiang and Jilin provinces and Inner Mongolia autonomous region
2. Operated by Joint Venture

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Potential investors and shareholders of the Company are (i) reminded that the above operating information has not been confirmed or reviewed by the Audit Committee or audited by the auditors of the Company; and (ii) advised to exercise caution when dealing in the securities of the Company.

On Behalf of the Board

Hop Hing Group Holdings Limited

Wong Kwok Ying

Executive Director

and Company Secretary

Hong Kong, 27 April 2021

As at the date of this announcement, the executive directors of the Company are Mr. Hung Ming Kei, Marvin and Mr. Wong Kwok Ying. The independent non-executive directors of the Company are Mr. Seto Gin Chung, John (Chairman), Mr. Sze Tsai To, Robert and Mr. Wan Sai Cheong, Joseph. The non-executive director of the Company is Ms. Lam Fung Ming, Tammy.

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