(Incorporated in Bermuda on 30 August 2002) (Company Registration Number 32514)

DISPOSAL OF PROPERTY

The Board of Directors of Karin Technology Holdings Limited (the "Company" or together with its subsidiaries, the "Group") wishes to announce that on 13 September 2021, one of its subsidiaries, Karin Electronic International Trading (Shanghai) Co., Ltd entered into a sale and purchase

agreement with one

to dispose of its ownership of Unit 709 on Level 7, Tower 1, Kerry

Everbright City, No. 218庄煚Tian文 Mu Road West, Zhabei District, Shanghai, PRC (the "Property") for a cash consideration of RMB 3,858,000 (equivalent to HKD 4,657,000) ("Disposal").

The consideration was arrived at through arm's length negotiations and on a willing-buyer-willing- seller basis, having regard to a recent valuation of the Property carried out by an independent third- party valuer engaged by the Company. Based on the valuation report, the current market value of the Property as at 30 June 2021 is estimated at RMB 3,527,000 (equivalent to HKD 4,234,000). Based on the latest unaudited consolidated financial statements of the Group for the year ended 30 June 2021, the book value (carrying amount) of the Property is RMB 3,527,000 (equivalent to HKD 4,234,000).

As all of the relative figures for the Disposal computed on the applicable bases set out in Rule 1006 of the listing manual of the Singapore Exchange Securities Trading Limited ("Listing Manual") are less than 5%, the Disposal constitutes a non-discloseable transaction for the purposes of the Listing Manual.

The Disposal is not expected to have a material impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 30 June 2022.

None of the Directors or controlling shareholders of the Company has any interest, direct or indirect (other than through their shareholdings in the Company) in the Disposal.

By Order of the Board

Wong Chi Cheung, Clarence

Financial Controller /Joint Company Secretary

23 September 2021

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Karin Technology Holdings Limited published this content on 23 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 September 2021 10:31:02 UTC.