Man Wah : CHANGE OF AUDITOR

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MAN WAH HOLDINGS LIMITED

敏 華 控 股 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 01999)

CHANGE OF AUDITOR

The Board announces that Deloitte has resigned as the auditor of the Company with effect from 13 March 2020 as the Company could not reach consensus with Deloitte on the auditor's remuneration in respect of the audit of the Group's consolidated financial statements for the year ending 31 March 2020. The Board further announces that PWC has been appointed as the auditor of the Company with effect from 13 March 2020 to fill the causal vacancy following the resignation of Deloitte.

This announcement is made by the board (the "Board") of directors (the "Directors") of Man Wah Holdings Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board announces that Deloitte Touche Tohmatsu ("Deloitte") has resigned as the auditor of the Company with effect from 13 March 2020 as the Company could not reach consensus with Deloitte on the auditor's remuneration in respect of the audit of the Group's consolidated financial statements for the year ending 31 March 2020. In its letter of resignation to the Company, Deloitte has confirmed that there were no other matters that need to be brought to the attention of holders of securities or creditors of the Company. Both the Board and the audit committee of the Company (the "Audit Committee") confirmed that, other than disagreement regarding the auditor's remuneration, there was no any other disagreement between the Company and Deloitte and there were no other matters that need to be brought to the attention of the holders of securities of the Company.

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The Board further announces that, with the recommendation of the Audit Committee, Pricewaterhouse Coopers ("PWC") has been appointed as the auditor of the Company with effect from 13 March 2020 to fill the causal vacancy following the resignation of Deloitte and to hold office until the conclusion of the forthcoming annual general meeting of the Company.

The Board would like to express its appreciations to Deloitte for its services rendered to the Company in the past years.

By Order of the Board

Man Wah Holdings Limited

Wong Man Li

Chairman

Hong Kong, 13 March 2020

As at the date of this announcement, the executive Directors are Mr. Wong Man Li, Ms. Hui Wai Hing, Ms. Yang Huiyan, Mr. Alan Marnie, Mr. Dai Quanfa and Ms. Wong Ying Ying; and the independent non-executive Directors are Mr. Chau Shing Yim, David, Mr. Ong Chor Wei, Mr. Kan Chung Nin, Tony and Mr. Ding Yuan.

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