ESun : Appointment of Independent Financial Adviser

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.

Appointment of Independent Financial Adviser

Reference is made to the joint announcement dated 21 February 2020 issued by eSun Holdings Limited ("Company"), Lai Sun Garment (International) Limited, Lai Sun Development Company Limited, Lai Fung Holdings Limited and Holy Unicorn Limited ("Joint Announcement") in relation to, among other things, the LF Offers and the eSun Disposal. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Joint Announcement.

The eSun Board wishes to announce that Trinity Corporate Finance Limited, a licensed corporation to carry out on Type 6 (advising on corporate finance) regulated activity under the SFO, has been appointed with the approval of the eSun Independent Board Committee as the independent financial adviser of the Company ("eSun IFA") to advise the eSun Independent Board Committee, the Independent eSun Shareholders and the Non-Connected eSun Shareholders on the eSun Disposal, which is a very substantial disposal and a connected transaction subject to the independent shareholders' approval requirement under Chapter 14A of the Listing Rules in accordance with Rule 14A.45 of the Listing Rules.

The letter of advice from the eSun IFA to the eSun Independent Board Committee will be included in the circular to be despatched by the Company to the eSun Shareholders on or about 14 April 2020.

WARNING: The LF Offers are subject to the Conditions being fulfilled or waived. Accordingly, the eSun Disposal may or may not proceed. eSun Shareholders and holders of options and other securities of and potential investors in the Company should therefore exercise caution when dealing in the securities of the Company. Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor or other professional advisers.

By Order of the Board

eSun Holdings Limited

Lui Siu Tsuen, Richard

Executive Director and

Chief Executive Officer

Hong Kong, 26 February 2020

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As at the date of this announcement, the eSun Board comprises four executive directors, namely Messrs. Lui Siu Tsuen, Richard (Chief Executive Officer), Chew Fook Aun, Lam Hau Yin, Lester and Yip Chai Tuck; one non-executive director, namely Madam U Po Chu; and four independent non-executive directors, namely Messrs. Low Chee Keong (Chairman), Lo Kwok Kwei, David and Alfred Donald Yap and Dr. Ng Lai Man, Carmen.

The eSun Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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