Universal Star : EXTENSION OF LONG STOP DATE OF PLACING OF NEW 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.

UNIVERSAL STAR (HOLDINGS) LIMITED

星 宇 ( 控 股 ) 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2346)

EXTENSION OF LONG STOP DATE OF

PLACING OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcements of Universal Star (Holdings) Limited (the "Company") dated 24 March 2021 and 26 March 2021 (the "Announcements") in relation to the proposed placing of new Shares under General Mandate. Unless otherwise defined, capitalised terms used herein shall have the same meanings as defined in the Announcements.

Pursuant to the Placing Agreement, the Completion of the Placing is conditional upon the fulfillment of the conditions precedent set out in the Placing Agreement (the "Conditions Precedent") on or before 21 April 2021 (or such later date as may be agreed between the Company and the Placing Agent in writing) (the "Long Stop Date").

Given that additional time is required for the fulfilment of the Conditions Precedent, the Company and the Placing Agent, after arm's length negotiation, have agreed in writing to extend the Long Stop Date from 21 April 2021 to 5 May 2021.

Save and except for the aforesaid change, all other terms and conditions of the Placing Agreement shall remain unchanged and continue in full force and effect.

By Order of the Board of

Universal Star (Holdings) Limited

Lyu Zhufeng

Chairman, CEO and Executive Director

Hong Kong, 21 April 2021

As at the date of this announcement, the Board comprises Mr. Lyu Zhufeng as the executive Director; Mr. Lu Qingxing as the non-executive Director; and Mr. Yan Aru, Mr. Lee Ming Tak and Mr. Tsang Chun Yiu as the independent non-executive Directors.

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