Long Well International : UPDATE ON JUDICIAL REVIEW

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LONG WELL INTERNATIONAL HOLDINGS LIMITED 久康國際控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 850)

UPDATE ON JUDICIAL REVIEW

This announcement is made by Long Well International Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rules 13.09(2)(a) and 13.24A of the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

References are made to the announcements of the Company dated 22 June 2018, 29 June 2018, 18 July 2018, 6 September 2018, 14 September 2018, 2 October 2018, 14 November 2018, 31 December 2018, 18 January 2019, 28 February 2019, 8 March 2019, 4 April 2019, 12 April 2019, 11 June 2019, 14 June 2019, 28 June 2019, 2 July 2019, 31 July 2019, 30 August 2019, 2 October 2019, 19 November 2019, 8 January 2020, 13 January 2020, 20 March 2020, 25 March 2020, 30 March 2020, 9 April 2020, 19 June 2020, 2 July 2020, 15 July 2020, 18 September 2020, 30 September 2020 and 31 December 2020 respectively (collectively the "Announcements"). Capitalised terms used therein shall have the same meanings as those defined in the Announcements unless the context requires otherwise.

JUDICIAL REVIEW HEARING

The Company has filed an application for leave to apply for judicial review against the Review Committee Decision in the Hong Kong High Court as stated in the announcement of the Company dated 20 January 2021. The Company believed that it has strong reasons and grounds to obtain a leave from the Hong Kong High Court.

A rolled-up hearing for the Company's said application for leave to apply for judicial review and for the substantive application has been scheduled for 6 August 2021 with 1 day reserved.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 9:00 a.m. on 3 July 2018 and will remain suspended until further notice.

Further announcement(s) will be made by the Company to inform the Shareholders and potential investors of any material development relating to the captioned matters as and when appropriate.

By Order of the Board

Long Well International Holdings Limited

Huang Guobiao

Chairman

Hong Kong, 3 March 2021

As at the date of this announcement, the Board comprises (i) four executive Directors, namely Mr. Huang Guobiao, Mr. Wong Kwok Leung (suspension of duties), Professor Kwong Ser Yuen Albert and Mr. Lee Siu Fung; (ii) one non-executive Director, namely Mr. Wu Hao; and (iii) three independent non-executive Directors, namely Mr. Cheung Kwan Hung, Mr. Lam Tze Chung Felix and Mr. Choi Ho Yan.