Huisen Household International : VOLUNTARY ANNOUNCEMENT ACQUISITION OF LAND USE RIGHTS IN LONGNAN, JIANGXI PROVINCE, THE PRC

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Huisen Household International Group Limited

匯 森 家 居 國 際 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2127)

VOLUNTARY ANNOUNCEMENT

ACQUISITION OF LAND USE RIGHTS

IN LONGNAN, JIANGXI PROVINCE, THE PRC

This is a voluntary announcement made by Huisen Household International Group Limited (the ''Company'', together with its subsidiaries, the ''Group'').

The board (''Board'') of directors (the ''Directors'') of the Company is pleased to announce that on 23 April 2021, Huisen Smart Home Technology (Longnan) Co., Limited* (匯森智能家居科技（龍南）有限公司) (''Huisen Home Technology''), an indirect wholly-owned subsidiary of the Company as the buyer, has entered into a contract for the grant of the land use rights of state-owned construction land* (國有建設用地使用權出讓 合同) with Natural Resources Bureau of Longnan* (龍南市自然資源局) as the seller, for the acquisition of the state-owned land use rights for a parcel of land (the ''Land'') located in Trading Logistics Park, Longnan, Ganzhou, Jiangxi Province, the People's Republic of China (the ''PRC'') for a consideration of RMB20,802,600 (the ''Acquisition''). As at the date of this announcement, a sum of RMB5 million has been paid by the Group as deposit for the Acquisition.

The Land is with a total site area of approximately 233,736 square metres designated for industrial usage with term of use of 50 years.

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REASON FOR THE ACQUISITION

The principal activity of the Company is investment holding, and through its subsidiaries, primarily focuses on the manufacture and sales of panel furniture. Huisen Home Technology is an indirect wholly-owned subsidiary of the Company.

Natural Resources Bureau of Longnan, being the seller of the Land is a PRC Governmental body and is responsible for, among other things, administering the examination and approval of assignment and transfer of the land use rights of the state-owned land in Longnan, Ganzhou, Jiangxi Province, the PRC.

As disclosed in the prospectus of the Company dated 14 December 2020 (the ''Prospectus''), as part of the Group's business strategies, it plans to have a series of incremental capacity expansions of its manufacturing facilities to capitalise on the growing demand of panel furniture as well as to strengthen its leading position in the panel furniture industry. Furthermore, the Group intends to further expand its product offerings in upholstered furniture to tap into new potential markets. As such, the Group intends to establish a new manufacturing factory, which will focus on the manufacture of panel furniture and upholstered furniture (''New Longnan Manufacturing Factory''). The Acquisition of the Land is for the purpose of the establishment of the New Longnan Manufacturing Factory, and the Group will finance the Acquisition with part of the net proceeds from its global offering which was allocated for such purpose. Please refer to the Prospectus for details regarding the establishment of the New Longnan Manufacturing Factory and the proposed use of proceeds from the global offering by the Group.

GENERAL

This announcement is made by the Company on a voluntary basis and does not constitute a transaction discloseable under Chapter 14 or Chapter 14A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited for the Company.

By order of the Board

Huisen Household International Group Limited

Zeng Ming

Chairman

the PRC, 26 April 2021

As at the date of this announcement, the executive Directors are Mr. Zeng Ming, Ms. Zeng Minglan, Mr. Wu Runlu and Mr. Su Xinlin; and the independent non-executive Directors are Mr. Suen To Wai, Mr. Lau Jing Yeung William and Mr. Gao Jianhua.

• For identification purpose only

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