Man Wah : VOLUNTARY ANNOUNCEMENT - INVESTMENT IN PROJECT OF SHAANXI PRODUCTION BASE

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.

MAN WAH HOLDINGS LIMITED

敏 華 控 股 有 限 公 司

(Incorporated in Bermuda with limited liability)

(Stock Code: 01999)

VOLUNTARY ANNOUNCEMENT

INVESTMENT IN PROJECT OF SHAANXI PRODUCTION BASE

This announcement is made by Man Wah Holdings Limited (the "Company") on a voluntary basis.

The board of directors (the "Board") of the Company announces that the Company has established a new company in Xianyang City, Shaanxi of PRC and entered into a Cooperation Agreement with local government aiming at developing Man Wah Holdings' project of production base in the Northwest. With a total construction area of 1,100 mu, the project was mainly used for building a production base for multifunctional sofa, mattress and other products, which will integrate research and development, manufacture, sale and services as an production line for smart home. This production base project was financed by the internal funds of the Company.

The Board considers that this investment is mainly to cater to the rapidly growing demand in PRC and increase the productivity while making up for the Company's vacancies in the northwest China and other regions. In addition, it can become able to supply products for the regions in the northwest China and along the Belt and Road, reducing logistic cost to be more competitive in the domestic market.

As all of the applicable percentage ratios as calculated under Chapter 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") in respect of the Cooperation Agreement are less than 5%, the Cooperation Agreement is not subject to any disclosure requirements pursuant to Chapter 14 of the Listing Rules.

By the order of the Board

Man Wah Holdings Limited

Wong Man Li

Chairman

Hong Kong, 15 September 2020

As at the date of this announcement, the executive Directors are Mr. Wong Man Li, Ms. Hui Wai Hing, Ms. Yang Huiyan, Mr. Alan Marnie, Mr. Dai Quanfa, and Ms. Wong Ying Ying; and the independent non- executive Directors are Mr. Chau Shing Yim, David, Mr. Ong Chor Wei, Mr. Kan Chung Nin, Tony and Mr. Ding Yuan.