China Wah Yan Healthcare : UPDATE ON RESUMPTION

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.

(Incorporated in Hong Kong with limited liability)

(Stock Code: 648)

UPDATE ON RESUMPTION

Reference is made to the announcements of China Wah Yan Healthcare Limited (the ''Company'') dated 29 January and 26 March 2021. Capitalized terms used in this announcement shall adopt the same meaning as those defined in the said announcement.

PROGRESS OF RESUMPTION

The Stock Exchange has informed the Company that it would withhold exercising its right to delist the Company under Rule 6.01A(2)(b)(i) of the Listing Rules pending further development of the Company's submission to the Commission. However, the Stock Exchange may exercise its right under Rule 6.01A of the Listing Rules at a later stage when it considers appropriate and it may modify the Resumption Conditions and/or impose further conditions as the Company's circumstances change. The Company will continue to take steps to address the concerns of the Commission and the Stock Exchange.

BUSINESS OPERATION

On 25 March 2021, HKO has filed a winding-up petition to the High Court of Hong Kong for orders of the court that HKO shall be wound up under the Companies (Winding up and Miscellaneous Provisions) Ordinance (Cap. 32). The Company will continue to operate its sports and healthcare clubhouses and, in view of the extremely high uncertainty to the global and regional economy including China and Hong Kong resulted from the Pandemic, the Company will cautiously monitor its business segment and adjust its business plan where appropriate.

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GENERAL

Trading in the shares of the Company will continue to be suspended pending fulfilment of the Resumption Conditions. The Company will keep its shareholders and potential investors posted of any material development in this regard as and when appropriate.

Shareholders and potential investors of the Company should exercise caution when dealing in the shares of the Company.

For and on behalf of the board of

China Wah Yan Healthcare Limited

Lam Sung Him Gaston

Company Secretary

Hong Kong, 3 May 2021

As at the date of this announcement, the board of directors of the Company comprises Mr. Chan Ka Chung, Mr. Cheung Wai Kwan and Mr. Wang Jianguo as executive directors; and Mr. Chan Yee Ping, Michael and Ms. Hu Xuezhen as independent non-executive directors.

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