Silk Road Logistics : PROFIT WARNING - SUPPLEMENTAL ANNOUNCEMENT

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Silk Road Logistics Holdings Limited ക༩يݴછٰϞࠢʮ̡

(Incorporated in Bermuda with limited liability)

(Stock Code: 988)

PROFIT WARNING

SUPPLEMENTAL ANNOUNCEMENT

This announcement is made by Silk Road Logistics Holdings Limited pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

Reference is made to the announcement of the Company dated 9 March 2021 (the "Announcement") in relation to the profit warning of the Company for the year ended 31 December 2020. Unless otherwise specified, capitalised terms used herein shall have the same meaning as those defined in the Announcement.

The Board wishes to further inform the shareholders and potential investors of the Company that, based on a preliminary review of the Group's unaudited consolidated management accounts for the year ended 31 December 2020 and information currently available to the Board, apart from the operating loss of not less than HK$70 million as disclosed in the Announcement, the Group is expected to record impairments on the investments of not less than HK$300 million, which accumulated to a total loss of not less than HK$370 million, as compared to the net loss of approximately HK$379 million in 2019. The impairments on the investments are due to the predicted deterioration in future economy for a period of time in light of the serious impact caused by the COVID-19 pandemic.

The information contained in this announcement is only based on the Company's preliminary review of the consolidated management accounts of the Group, which has not been reviewed or confirmed by the Company's auditors. The Annual Results are expected to be announced by the Company on 30 March 2021.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Silk Road Logistics Holdings Limited

Meng Fanpeng

Executive Director

Hong Kong 25 March, 2021

As at the date of this announcement, the Board consists of three executive Directors, namely Ms. Wong Kai Ling, Ms. Yang Yi and Mr. Meng Fanpeng, one non-executive Director, namely Mr. Qin Bo and four independent non-executive Directors, namely Ms. Choy So Yuk, Mr. Wu Zhao, Mr. Zou Mingwu and Mr. Wong Chun Hung.