Victory : Quarterly update on status of resumption

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.

QUARTERLY UPDATE ON STATUS OF RESUMPTION

Reference is made to the announcements (the "Announcements") of Victory Group Limited (the "Company" together with its subsidiaries as the "Group") dated 23 January 2018, 24 January 2018, 15 June 2018, 25 July 2018, 10 August 2018, 2 November 2018, 1 February 2019, 4 February 2019, 2 May 2019, 12 July 2019, 8 August 2019 and 14 August 2019. Terms defined in the Announcements, shall have the same meaning herein unless otherwise defined or the context otherwise required. This announcement is made by the Company pursuant to Rule 13.24A of the Listing Rules and the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Business Operations

The core business of the Company are trading of motor vehicles and money lending business. The primary market of trading of motor vehicles is mainland China.

Recent Development

As disclosed in the announcement of the Company dated 8 August 2019, the Company and the Vendor entered into the Sale and Purchase Agreement with Vendor.

An announcement setting out the details of the Sale and Purchase Agreement and the Acquisition will be published by the Company in compliance with Chapter 14 of the Listing Rules.

Continued Suspension of Trading

At the request of the Company, trading in the shares of the Company on the Stock Exchange has been suspended from 9:00 a.m. on 23 January 2018 and will remain suspended until further notice.

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

By order of the Board

Victory Group Limited

Chan Chun Choi

Chairman and Managing Director

Hong Kong, 4 November 2019

As at the date of this announcement, the Board comprises Mr. Chan Chun Choi, Mr. Chan Kingsley Chiu Yin, Ms. Lo So Wa Lucy, and as executive directors; Mr. Ip Ka Keung, Dr. Lam King Hang and Mr. Cheung Man Fu as independent non-executive directors.

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