VPower International : COMPLETION OF PLACING OF EXISTING SHARES AND SUBSCRIPTION 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.

VPOWER GROUP INTERNATIONAL HOLDINGS LIMITED 偉 能 集 團 國 際 控 股 有 限 公 司

（Incorporated in the Cayman Islands with limited liability）

(Stock Code: 1608)

COMPLETION OF PLACING OF EXISTING SHARES AND

SUBSCRIPTION OF NEW SHARES UNDER GENERAL MANDATE

as Sole Global Coordinator, Sole Bookrunner and Joint Lead Manager

Reference is made to the announcement of the Company dated 14 July 2020 (the "Announcement") in relation to, among other things, the Placing and the Subscription. Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement.

The Company is pleased to announce that completion of the Placing and the Subscription took place on 17 July 2020 and 23 July 2020, respectively.

A total of 83,000,000 Placing Shares have been successfully placed at the Placing Price of HK$3.75 under the Placing.

Further, all the conditions of the Subscription have been fulfilled and completion of the Subscription took place on 23 July 2020. A total of 83,000,000 Subscription Shares (equal to the number of the Placing Shares successfully placed under the Placing) were subscribed by the Vendor at the Subscription Price (equal to the Placing Price).

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The table below sets out the shareholding structure of the Company immediately after completion of the Subscription:

	Number of Shares	Approximate %
The Vendor	1,806,633,881	68.27
Directors	41,233,410	1.56
Other core connected persons	15,860,968	0.60
Public Shareholders	782,550,741	29.57
Total	2,646,279,000	100.00

By Order of the Board

VPower Group International Holdings Limited

Lam Yee Chun

Executive Chairman

Hong Kong, 23 July 2020

As at the date hereof, the Board comprises Mr. Lam Yee Chun, Mr. Lee Chong Man Jason, Mr. Au-Yeung Tai Hong Rorce and Mr. Lo Siu Yuen as executive directors; Ms. Chan Mei Wan and Mr. Kwok Man Leung as non-executive directors; and Mr. David Tsoi, Mr. Yeung Wai Fai Andrew and Mr. Suen Wai Yu as independent non-executive directors.

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