Impro Precision Industries Limited — Regulatory Filings 2021

Aug 27, 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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IMPRO PRECISION INDUSTRIES LIMITED 鷹普精密工業有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1286)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

Reference is made to the annual report of Impro Precision Industries Limited (the ‘‘Company’’) for the year ended 31 December 2020 (the ‘‘2020 Annual Report’’). Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the 2020 Annual Report.

In addition to the information disclosed in note 29 headed ‘‘Employee Retirement Benefits’’ under the section headed ‘‘Notes to the Financial Statements’’ in the 2020 Annual Report, the Board would like to provide the following additional information pursuant to paragraph 26 of Appendix 16 to the Listing Rules:

DEFINED CONTRIBUTION RETIREMENT PLANS

Except for the Group’s Hong Kong subsidiary, the contributions under defined contribution retirement plans of the Group’s other subsidiaries are expensed as incurred and not reduced by contributions forfeited by those employees who leave the defined contribution retirement plans prior to vesting fully in the contributions.

For the Group’s contributions under the defined contribution retirement plan in Hong Kong, the amount of forfeited contributions used by the Group’s Hong Kong subsidiary to reduce existing level of contributions for the year ended 31 December 2020 amounted to approximately HKD13,000 (for the year ended 31 December 2019: HKD157,000), and the balance of such forfeited contributions as at 31 December 2020 was nil (31 December 2019: nil).

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DEFINED BENEFIT RETIREMENT PLANS

The Group operates two defined benefit retirement plans for its employees in its German subsidiaries that were acquired by the Group in March 2013 (the ‘‘Germany DBRPs’’). The Group also operates a defined benefit retirement plan for its employees of its subsidiary in Turkey that was acquired by the Group in August 2014 (the ‘‘Turkey DBRP’’).

Germany DBRPs

The actuarial valuation of the Germany DBRPs were performed by Aon Solutions Germany GmbH and Mercer Deutschland GmbH, independent actuaries established under the German laws and regulations which are not related to the Group.

Turkey DBRP

The actuarial valuation of the Turkey DBRP was performed by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.S., an independent actuary established under the Turkish laws and regulations which is not related to the Group.

The above supplementary information does not affect other information contained in the 2020 Annual Report. Save as disclosed above, all other information in the 2020 Annual Report remains unchanged.

By order of the Board Impro Precision Industries Limited LU Ruibo Chairman

Hong Kong, 27 August 2021

As of the date of this announcement, the Board comprises five executive Directors, namely Mr. LU Ruibo, Ms. WANG Hui, Ina, Mr. YU Yuepeng, Ms. ZHU Liwei and Mr. WANG Dong; and three independent non-executive Directors, namely Mr. YU Kwok Kuen Harry, Dr. YEN Gordon and Mr. LEE Siu Ming.

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