Winfull : PROFIT WARNING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Stock Exchange") 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 the Cayman Islands with limited liability)

(Stock Code: 183)

PROFIT WARNING

This announcement is made by the Company pursuant to Rule 13.09(2)(a) of the Listing Rules and Inside Information Provisions under Part XIVA of the SFO.

The Board wishes to inform the shareholders of the Company and potential investors that, based on a preliminary review of the Group's unaudited consolidated management accounts for the year ended 30 June 2020, it is expected that the Group is likely to record a consolidated loss attributable to owners of the Company for the year ended 30 June 2020 as compared to a consolidated profit attributable to the owners of the Company for the year ended 30 June 2019.

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

This announcement is made by Winfull Group Holdings Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") and the Inside Information Provision (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) (the "SFO").

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The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on a preliminary review of the Group's unaudited consolidated management accounts for year ended 30 June 2020 (the "Year"), it is expected that the Group is likely to record a loss before income tax in the consolidated financial results of the Company for the Year within the range of HK$150 million to HK$170 million as compared to the profit before income tax of a consolidated financial results of the Company for the year ended 30 June 2019 of approximately HK$44 million. The Board considers that such changes are mainly due to the following losses being recorded for the Year:

1. fair value loss on investment properties;
2. impairment loss on properties held for trading; and
3. fair value loss on financial instruments at fair value through profit or loss.

The Company is still in the process of finalising the results of the Group for the Year. The information contained in this announcement is only a preliminary assessment by management of the Company based on information currently available to the Board, including the Group's unaudited consolidated management account for the Year, and is not based on any figures or information which have been audited or reviewed by the Company's auditors.

Shareholders and potential investors are advised to exercise caution in dealing in the shares of the Company. The annual results of the Company for the Year will be released in due course.

By order of the Board

Winfull Group Holdings Limited

Pong Wilson Wai San

Chairman

Hong Kong, 22 September 2020

As at the date of this announcement, the Company's executive directors are Mr. Pong Wilson Wai San and Mr. Lee Wing Yin, the Company's non-executive director is Mr. Lai Hin Wing, Henry and the Company's independent non-executive directors are Mr. Koo Fook Sun, Louis, Ms. Yeung Wing Yan, Wendy and Mr. Lung Hung Cheuk respectively.

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