Lee & Man Paper Manufacturing : Positive Profit Alert

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 liabilities whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2314) POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the inside information provisions under Part XIVA of the SFO.

The Board wishes to inform that Shareholders and potential investors that, based on the preliminary review of the management accounts of the Group, the profit attributable to equity holders of the Company for the Period is expected to increase by more than 50% as compared to the Corresponding Period due to an increase in the volume and selling prices of the products sold by the Group and an increase in profit margin of the Group.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

This announcement is made by Lee & Man Paper Manufacturing Limited (the "Company" and 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 (the "Listing Rules") and the Inside information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance ("SFO") (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary review of the management accounts of the Group, the profit attributable to equity holders of the Company for the six months ended 30 June 2017 (the "Period") is expected to increase by more than 50% as compared to the six months ended 30 June 2016 (the "Corresponding Period") due to an increase in the volume and selling prices of the products sold by the Group. The profit margin of the Group also increased during the Period as compared to the Corresponding Period.

* For identification purposes only

The Company is in the course of preparing its unaudited interim results for the Period. The information contained in this announcement is only a preliminary assessment by the Board based on the information currently available. The preliminary interim results of the Group for the Period as provided in this announcement have not been audited or reviewed by the Company's auditor or its audit committee, and will be subject to change and finalisation. Shareholders and potential investors are advised to refer to the Group's interim results announcement for the Period which are expected to be published before the end of August 2017.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

Lee & Man Paper Manufacturing Limited Lee Man Chun Raymond

Chairman

Hong Kong, 21 July 2017

As at the date of this announcement, the board of directors of the Company comprises three executive directors, namely Dr. Lee Man Chun Raymond, Mr. Lee Man Bun and Mr. Li King Wai Ross, one non-executive director, namely Professor Poon Chung Kwong, and three independent non-executive directors, namely Mr. Wong Kai Tung Tony, Mr. Peter A. Davies and Mr. Chau Shing Yim David.