New Concepts : COMPLETION OF ISSUE OF SHARES UNDER GENERAL MANDATE

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.

NEW CONCEPTS HOLDINGS LIMITED

創 業 集 團（ 控 股 ）有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2221)

COMPLETION OF ISSUE OF SHARES UNDER GENERAL MANDATE

Reference is made to the Company's announcement dated 24 March 2021 (the ''Announcement'') in relation to, among others, the Subscription. Capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement unless otherwise stated.

COMPLETION OF THE SUBSCRIPTION

The Board hereby announces that the condition precedent of the Subscription as set out in the Subscription Agreements has been satisfied, and the Subscription was completed on 12 April 2021 in accordance with the terms and conditions of the Subscription Agreements.

Pursuant to the Subscription Agreements, an aggregate of 20,000,000 Subscription Shares, representing approximately 2.80% of the issued share capital (as enlarged by the Subscription Shares) of the Company as at the date of this announcement, have been allotted and issued by the Company to the Subscribers at the Subscription Price of HK$0.20 per Subscription Share under the General Mandate.

The aggregate Subscription Price have been satisfied by the Subscribers pursuant to the Subscription Agreements, the total proceeds raised from the Subscription are approximately HK$4.0 million, and the net proceeds is expected to be approximately HK$3.9 million. The Company intends to apply the net proceeds as general working capital.

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CHANGES TO THE COMPANY'S SHAREHOLDING STRUCTURE

The shareholding structures of the Company immediately before and immediately after completion of the Subscription are set out as follows:

	Immediately before completion	Immediately after completion
Shareholders	of the Subscription	of the Subscription
			% of			% of
	Number of	shareholding	Number of	shareholding
	shares	(approximately)	shares	(approximately)
Jumbo Grand Enterprise
Development Limited (Note 1)	77,000,000	11.10	77,000,000	10.79
Prosper Power Group Limited
(Note 2)	76,500,000	11.03	76,500,000	10.72
Simple Gain International Limited
(Note 3)	40,000,000	5.77	40,000,000	5.61
CEF Concept Holdings Limited
(Note 4)	55,400,000	7.99		55,400,000	7.76
Mr. Zhu Yongjun (Note 5)	4,900,000	0.71	4,900,000	0.69
Dr. Zhang Lihui (Note 5)	96,000	-	96,000	-
Mr. Choy Wai Shek, Raymond,
MH. JP (Note 5)	700,000	0.10	700,000	0.10
Dr. Tong Ka Kok (Note 5)	480,000	0.07	480,000	0.07
Subscriber A	-	-	6,000,000		0.84
Subscriber B	-	-	6,000,000		0.84
Subscriber C	-	-	8,000,000		1.12
Other public shareholders	438,514,134		63.23		438,514,134		61.46
	693,590,134	100.00	713,590,134		100.00
Notes:

1. Jumbo Grand Enterprise Development Limited is wholly-owned by Mr. Zhu Yongjun (chairman of the Board and an executive Director). Mr. Zhu is the brother-in-law of Mr. Allan Warburg, an ultimate beneficial owner of Simple Gain International Limited, a shareholder of the Company.
2. Prosper Power Group Limited is owned as to 75% by Mr. Chu Shu Cheong.
3. Simple Gain International Limited is wholly-owned by Allan Warburg Holdings Limited, which is in turn wholly-owned by Mr. Allan Warburg.
4. CEF Concept Holdings Limited is wholly-owned by CEF IV Holdings Ltd., which is in turn owned as to 92.55% by China Environment Fund IV, L.P., an investment fund incorporated in the Cayman Islands.

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1. Directors of the Company.
2. The percentage figures included in this table are subject to rounding adjustment.

By Order of the Board

New Concepts Holdings Limited

Zhu Yongjun

Chairman and Executive Director

Hong Kong, 12 April 2021

As at the date of this announcement, the executive Directors are Mr. Zhu Yongjun, Mr. Pan Yimin and Mr. Lee Tsi Fun Nicholas; the non-executive Directors are Dr. Ge Xiaolin and Dr. Zhang Lihui; and the independent non-executive Directors are Mr. Lo Chun Chiu, Adrian, Dr. Tong Ka Lok and Mr. Choy Wai Shek, Raymond, MH, JP.

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