Launch Tech : FURTHER INFORMATION ON PROFIT WARNING

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.

深 圳 市 元 征 科 技 股 份 有 限 公 司

LAUNCH TECH COMPANY LIMITED*

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 2488)

FURTHER INFORMATION ON PROFIT WARNING

This announcement is made by Launch Tech Company Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

Reference is made to the announcement (the "Announcement") of the Company dated 29 January 2020 in relation to the profit warning of the Company. Capitalised terms used herein have the same meanings as those defined in the Announcement.

Based on a further review of the unaudited consolidated management accounts of the Company for the year ended 31 December 2019 and the information currently available, the Group expects to record a net loss after tax of not less than RMB80 million for the year ended 31 December 2019.

The Company is still in the process of finalising the consolidated results for the year ended 31 December 2019, the information contained in this announcement is only based on the Board's preliminary assessment of information currently available and is not based on any figures or information audited or reviewed by the independent auditors. Therefore, the actual results of the Group for the year ended 31 December 2019 may differ from the information contained in this announcement.

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The Company will provide the Shareholders and potential investors with further information, if any. Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Launch Tech Company Limited

Liu Chun Ming

Company Secretary

Hong Kong, 12 February 2020

As at the date of this announcement, the Board of the Company comprises Mr. Liu Xin (Chairman), Mr. Liu Jun, Ms. Huang Zhao Huan and Mr. Jiang Shiwen as executive Directors, Mr. Xia Hui as non- executive Director, and Mr. Liu Yuan, Ms. Zhang Yan and Mr. Ning Bo as independent non-executive Directors.

*  For identification purpose only

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