Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") 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.

Zhejiang Shibao Company Limited*

浙江世寶股份有限公司

(a joint stock limited company incorporated in the People's Republic of China)

(Stock code: 1057)

ANNOUNCEMENT ON RESULTS FORECAST

FOR THE FIRST QUARTER OF 2021

This announcement is made by Zhejiang Shibao Company Limited (the "Company") pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on Hong Kong Stock Exchange.

The Company expects that the net profit attributable to shareholders of listed company for the three months from 1 January 2021 to 31 March 2021 is between RMB16,000,000 and RMB24,000,000 (corresponding period of last year: RMB-2,654,600).

Due to the impact of COVID-19 pandemic, the Company recorded losses in operation during the same period of last year. During the reporting period, aforementioned adverse impacts were eliminated and the recovery of business increased the Company's revenue. The Company expects that it will turn losses into profits at the first quarter of 2021, with expected profits ranging from RMB16,000,000 to RMB24,000,000.

This results forecast has not been audited preliminary by certified public accountants, but is made according to the preliminary calculations by the finance department of the Company. Detailed financial figures of the first quarterly results of 2021 will be disclosed by the Company before the end of April 2021.

By order of the Board

Zhejiang Shibao Company Limited

Zhang Shi Quan

Chairman

Hangzhou, Zhejiang, the PRC

14 April 2021

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As at the date of this announcement, the board of directors of the Company comprises Mr. Zhang Bao Yi, Mr. Tang Hao Han, Ms. Zhang Lan Jun and Ms. Liu Xiao Ping as executive directors; Mr. Zhang Shi Quan and Mr. Zhang Shi Zhong as non-executive directors; and Mr. Gong Jun Jie, Mr. Lin Yi and Mr. Shum Shing Kei as independent non-executive directors.

* For identification purposes only

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Zhejiang Shibao Company Limited published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 09:18:08 UTC.