Basetrophy Group Holdings Limited — Capital/Financing Update 2021

Sep 30, 2021

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.

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BASETROPHY GROUP HOLDINGS LIMITED 基地錦標集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8460)

SUPPLEMENTAL ANNOUNCEMENT DISCLOSEABLE TRANSACTION DISPOSAL OF MACHINERY

Reference is made to the announcement (the “ Announcement ”) of Basetrophy Group Holdings Limited (the “ Company ”) dated 21 September 2021 in relation to a disposal of machinery. Unless otherwise specified, capitalised terms used in this announcement shall have the same meanings as set out in the Announcement.

This announcement is made to provide supplemental information to the Announcement:

INFORMATION ON THE PURCHASER

The Purchaser, Primega Construction Engineering Co. Limited is a company incorporated in Hong Kong with limited liability. The Purchaser is directly wholly owned by Mr. MAN Siu Ming, a Hong Kong permanent resident. The Purchaser is primarily engaged in construction engineering projects.

To the best of the knowledge, information and belief of the Directors, having made all reasonable enquiry, the Purchaser and its ultimate beneficial owner(s) are independent of and not connected with the Company and its connected persons (as defined in the GEM Listing Rules).

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FURTHER INFORMATION ON THE DISPOSAL

The Company is of the view that, while the Machinery relates to the Company’s existing business of foundation work, the Company maintains adequate equipment to sustain its current operation of business. The carrying amount of the Machinery as at 30 June 2021 was HK$2,576,700 and the total expected gain from the Disposal of the Machinery is HK$2,511,080.01. The net carrying amount of total remaining machinery of the Group after the Disposal is HK$13,795,246.07.

After the Disposal, the Company plans to continue to subcontract foundation work and as the subcontractors all have their own foundation work machinery, the Disposal will not affect its existing projects or business. Taking into account the Machinery were all purchased between August 2017 and June 2018 and would normally depreciate at a higher rate after 5 years of service, the Company considers such disposal of aging machinery equipment is aligned with common industry practice. Thus, the Company is of the view that the Company’s existing business of foundation works will not be affected by the Disposal.

The Company shall continue its existing business of foundation work by subcontracting its foundation work, monitoring its projects’ progress, proactively following up with potential customers on the tenders and quotations submitted, and actively responding to any business enquiries, tenders and quotation invitations to maintain market competitiveness.

The Company views the Disposal represents a good opportunity to realise its assets and the proceeds from the Disposal will improve the financial position and general working capital of the Group, which the Directors believe is in the interests of the Group and the shareholders of the Company as a whole.

Save for the aforesaid, all other information and content as set out in the Announcement remains unchanged.

By order of the Board Basetrophy Group Holdings Limited Lau Chung Ho Executive Director

Hong Kong, 30 September 2021

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As at the date of this announcement, the Board comprises Mr. Lau Chung Ho, Mr. Leung Yat Fai Frankie Keith and Ms. Fong Pui Yin Vivian as executive Directors; and Mr. Ng Ki Man, Mr. Iu Tak Meng Teddy and Mr. Lam Chee-yau Timothy as independent nonexecutive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the website of the Stock Exchange at www.hkexnews.hk on the “Latest Listed Company Information” page for at least 7 days from the date of its posting and will be published on the Company’s website at www.wbgroupfw.com.hk.

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