EverChina 'l : GRANT OF WAIVER AND EXTENSION OF TIME FOR APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

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.

EVERCHINA INT'L HOLDINGS COMPANY LIMITED

潤 中 國 際 控 股 有 限 公 司

(incorporated in Hong Kong with limited liability)

(Stock Code: 202)

GRANT OF WAIVER AND EXTENSION OF TIME FOR APPOINTMENT

OF INDEPENDENT NON-EXECUTIVE DIRECTOR

Reference is made to the announcement of the Company dated 30 December 2020 (the "Announcement"). Unless otherwise defined herein, terms used in this announcement shall have the same meaning as those defined in the Announcement.

Following the passing away of Professor Shan, the composition of the Board comprises four executive Directors and two independent non-executive Directors ("INED(s)") and hence the number of INEDs and the member of the Audit Committee has fallen below the minimum number required under Rules 3.10(1) and 3.21 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Pursuant to Rule 3.11 and Rule 3.23 of the Listing Rules, the Company should appoint an INED and a member of the Audit Committee within three months after failing to meet the requirements under Rules 3.10(1) and 3.21 of the Listing Rules (i.e. on or before 28 March 2021).

Over the past three months, the Company had been endeavoring to identify a potential candidate with similar level of Professor Shan to fill the vacancy of INED and the Audit Committee. However, the Company find that it is difficult to seek a suitable candidate whose profile would fulfill the unique requirement. During the three-month period, the Company had identified a potential candidate and invited to having a face-to-face interview. Due to the COVID-19 pandemic, certain stringent quarantine requirements for peoples arriving Hong Kong and returning to cities of the PRC have been adopted by both the Governments of the HKSAR and the PRC. It had restricted the Company's ability to having a face-to-face interview with the potential candidate. Therefore, the Company still could not appoint an INED to fill the vacancy on or before 28 March 2021.

The Company is currently identifying more potential candidates for selection and nomination purpose. Therefore, additional time is required by the Company to go through the internal

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procedures, such as conducting the due diligence checks and interviews with the candidates, and to complete the selection, recruitment and nomination procedures pursuant to the terms of reference to the Nomination Committee of the Company. Also, the candidate needs time to consider and, if necessary, negotiate with us, our offer and terms of engagement if it would be made. The Company has applied to the Stock Exchange for, and the Stock Exchange has granted to the Company, a waiver to re-comply with Rules 3.10(1) and 3.21 of the Listing Rules by no later than 28 June 2021.

The Company will use its best endeavor to identify a suitable candidate to fill the vacancy of INED and will make further announcement(s) as and when appropriate.

By order of the Board of

EverChina Int'l Holdings Company Limited

Lam Cheung Shing, Richard

Executive Director and Chief Executive Officer

Hong Kong, 14 April 2021

As at the date of this announcement, the executive Directors are Mr. Jiang Zhaobai, Mr. Lam Cheung Shing, Richard, Mr. Chen Yi, Ethan and Mr. Shen Angang, and the independent non-executive Directors are Mr. Ho Yiu Yue, Louis and Mr. Ko Ming Tung, Edward.

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