Vision Fame International : FURTHER UPDATE ON PUBLICATION OF AUDITED RESULTS ANNOUNCEMENT AND ANNUAL REPORT AND POSTPONEMENT OF THE BOARD MEETING

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Vision Fame International Holding Limited

允 升 國 際 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1315)

FURTHER UPDATE ON PUBLICATION OF

AUDITED RESULTS ANNOUNCEMENT

AND ANNUAL REPORT

AND

POSTPONEMENT OF THE BOARD MEETING

Reference is made to (i) the announcement of Vision Fame International Holding Limited (the ''Company'') dated 30 June 2020 in relation to the unaudited key financial information of the Company and its subsidiaries (collectively referred to as the ''Group'') for the year ended 31 March 2020; (ii) the announcement of the Company dated 20 July 2020 in relation to the change of auditors (the ''Change of Auditors''); (iii) the announcement of the Company dated 14 August 2020 (the ''Update Announcement'') in relation to the update on publication of audited annual results for the year ended 31 March 2020 (the ''2020 Audited Annual Results'') and annual report for the year ended 31 March 2020 (the ''2020 Annual Report''); and (iv) the notification of board meeting of the Company (the ''Board Meeting'') dated 7 September 2020 to be held on 18 September 2020 (together, the ''Announcements''). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless the context requires otherwise.

The Board would like to inform the Shareholders and potential investors on the latest development and progress on the publication of the 2020 Audited Annual Results and the 2020 Annual Report.

The Board has been informed by the Auditor that the review of the working papers by its component auditor in Singapore has been completed. Further, the Auditor has received all the bank confirmations from the banks.

Due to the travel restrictions imposed by the PRC government as a result of the COVID-19 pandemic, the Auditor has instructed its PRC member firm to perform the field work under its instruction and supervision. However, since the transaction volume and complexity of the trading business conducted by the Group were beyond the expectation in the audit planning stage, more audit work needs to be conducted in order to obtain sufficient and appropriate audit evidence. Additional time is required by the Auditor to obtain sufficient audit evidence in relation to the trading business in order to complete the audit work.

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Based on discussion with the Auditor, the Company currently expects that the 2020 Audited Annual Results will be published on or before 9 October 2020.

Since the Company will require more time to finalise, proofread, bulk print and arrange delivery of the 2020 Annual Report, the Company would make an application to the Stock Exchange for a waiver from strict compliance with Rule 13.46(2) of the Listing Rules to further extend the date by which the Company is required to despatch the 2020 Annual Report to a date on or before 23 October 2020.

The Company will keep the Shareholders and potential investors of the Company informed of the progress of the 2020 Audited Annual Results and the 2020 Annual Report and make further announcement(s) as and when necessary.

POSTPONEMENT OF THE BOARD MEETING

In light of the further delay in the publication of the 2020 Audited Annual Results, the meeting of the Board which was expected to be held on 18 September 2020 for approving the 2020 Audited Annual Results will be postponed to 9 October 2020.

The Company will make further announcement(s) to inform the Shareholders of any change to the date of the Board Meeting to consider and approve the 2020 Audited Annual Results.

By Order of the Board

Vision Fame International Holding Limited

CHAU CHIT

Chairman and Chief Executive Officer

Hong Kong, 17 September 2020

As at the date of this announcement, the Board comprises two executive directors, namely Mr. Chau Chit and Mr. Zhu Xiaodong; and three independent non-executive directors, namely Mr. Tam Tak Kei Raymond, Mr. Wong Kai Tung Simon and Mr. Wong Wai Kwan.

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