Brightstar Technology Group Co., Ltd — Capital/Financing Update 2020

Apr 1, 2020

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.

==> picture [56 x 35] intentionally omitted <==

IN TECHNICAL PRODUCTIONS HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8446)

SUPPLEMENTAL INFORMATION TO THE PROFIT WARNING

This announcement is made by In Technical Productions Holdings Limited (the ‘‘Company’’, and together with its subsidiaries, the ‘‘Group’’) pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the ‘‘GEM Listing Rules’’) and the Inside Information Provisions (as defined in the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

Reference is made to announcement of the Company dated 27 March 2020 in relation to the profit warning.

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of the Company would like to inform the shareholders (the ‘‘Shareholders’’) and potential investors of the Company that the Group is expected to record a loss attributable to the owners of the Company of approximately HK$9.4 million for the nine months period ended 29 February 2020 (the ‘‘Period’’) as compared to a profit attributable to the owners of the Company of HK$18.3 million for the same nine months period ended 28 February 2019. The loss was primarily attributable to:

• (i) the expected decrease in revenue for the Period by approximately 39% as compared to the revenue for the same nine months period ended 28 February 2019 caused by (1) the decrease in number of pop concerts and events taken by the Company for approximately 7.5% for the Period due to the postponement and rescheduling of the concerts and events by the organisers (a) in Asia region due to closure of venues across the infected region and emergency public health measures and various actions such as quarantine order, travel alert or travel restriction imposed by the local government to prevent the spread of the epidemic; and (b) in Hong Kong due to the unsettlement of social unrest and related demonstrations during the Period; and (2) the significant decrease of average revenue per show for pop concerts for the Period by approximately 45% compared to the nine months ended 28 February 2019 as the Group undertook more small-scale pop concerts in the Period; and

• (ii) the accrual of non-recurring professional expenses in the amount of approximately HK$7.2 million for the proposed transfer of listing of the Company from GEM to the Main Board of the Stock Exchange as stipulated in an announcement dated 19 August 2019.

– 1 –

The information contained in this announcement is only based on a preliminary assessment by the management of the Company based on the unaudited consolidated management accounts of the Group for the nine months ended 29 February 2020 currently available, which is subject to finalisation and will not be required to be audited by the auditor of the Company. It is not based on any figures or information reviewed by the Company’s auditor or audit committee of the Company. The Company is still in the process of finalising its unaudited third quarter results for the Period and such results are subject to review by the audit committee of the Company. The Company expects to announce its unaudited third quarter results for the Period before the middle of April 2020.

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

By order of the Board In Technical Productions Holdings Limited Yeung Ho Ting Dennis Chairman and Executive Director

Hong Kong, 1 April 2020

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Yeung Ho Ting Dennis and Mr. Tam Chun Yu and three independent non-executive Directors, namely, Mr. Li Kai Sing, Mr. Ma Tsz Chun and Ms. Loh Lai Ping Phillis.

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 ‘‘Latest Company Announcements’’ page of the GEM website (www.hkgem.com) for at least seven days from the date of its posting and on the Company‘s website (www.intechproductions.com).

– 2 –