SUPPLEMENTAL ANNOUNCEMENT: POSITIVE PROFIT ALERT

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U BANQUET GROUP HOLDING LIMITED

譽宴集團控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1483)

SUPPLEMENTAL ANNOUNCEMENT:

POSITIVE PROFIT ALERT

This announcement is made by U Banquet Group Holding Limited (the "Company", 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 under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) (the "SFO").

Reference is made to the Company's positive profit alert announcement (the "Announcement") dated 15 July 2020. Capitalised terms used herein shall have the same meanings as those defined in the Announcement, unless the context requires otherwise. The board (the "Board") of directors (the "Directors") of the Company wishes to provide the shareholders (the "Shareholders") and potential investors of the Company with further information about the expected profit attributable to the equity holders of the Company for the six months ended 30 June 2020 (the "Reporting Period") as mentioned in the Announcement.

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The Group is expected to record profit attributable to the equity holders of the Company within a range of HK$70.0 million to HK$80.0 million due to the following reasons:

1. Gain on disposal of subsidiaries in the amount of not less than HK$70.0 million, of which the disposal was completed on 28 May 2020; and
2. Increase in segment profit from environmental maintenance business, from approximately HK$27.8 million for the six month ended 30 June 2019 to not less than HK$30.0 million for the Reporting Period. The increase in segment profit was mainly attributable to the continuing growth in environmental maintenances business which is penetrating from Chengdu region into other regions in the PRC such as Xinjiang Autonomous Region, Hebei Province and Inner Mongolia Autonomous Region. As such, the revenue from environmental maintenance business increased by approximately HK$23.3 million or 23.4% from approximately HK$99.6 million for the six month ended 30 June 2019 to approximately HK$122.9 million for the Reporting Period.

The Company is still in the process of finalizing the interim results of the Group for the six months ended 30 June 2020. The information contained in this announcement is only based on the preliminary assessment of the unaudited consolidated management accounts of the Group for the six months ended 30 June 2020, which are subject to finalization and other potential adjustments, if any, and have not been reviewed or confirmed by the audit committee of the Company. Shareholders and potential investors of the Company should refer to the interim results announcement of the Group for the six months ended 30 June 2020, which is expected to be published by the end of August 2020.

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

By Order of the Board

U Banquet Group Holding Limited

Sang Kangqiao

Chairman and Executive Director

Hong Kong, 27 July 2020

As at the date of this Announcement, the Executive Directors are Mr. Sang Kangqiao, Mr. Xu Wenze and Mr. Cui Peng; the Independent Non-executive Directors are Mr. Xu Zhihao, Mr. Lam Ka Tak and Mr. Wong Sincere.

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