IRC Limited — Earnings Release 2018

Mar 15, 2018

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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(Stock Code: 488)

POSITIVE PROFIT ALERT

This announcement is made by the Company pursuant to Rule 13.09 of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.

The Board wishes to inform that the Group is expected to record a substantial increase in consolidated profit attributable to owners of the Company for the six months ended 31 January 2018 as compared to the consolidated profit attributable to the owners of the Company for the corresponding six months ended 31 January 2017. The expected increase in consolidated profit attributable to owners of the Company, based on unaudited consolidated management accounts, is primarily due to substantial increase in revaluations of investment properties owned by the Group and held through joint ventures of the Group during the period under review. Shareholders should note that the Group’s unaudited interim results for the six months ended 31 January 2018 have not yet been finalised and is subject to review by the Company’s audit committee.

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

This announcement is made by Lai Sun Development Company Limited (“ Company ”, and together with its subsidiaries, “ Group ”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“ Listing Rules ”) and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance, Chapter 571, the Laws of Hong Kong (“ SFO ”).

The principal activities of the Group include property investment, property development, investment in and operation of hotels and restaurants and investment holding. Based on the preliminary unaudited consolidated management accounts of the Group, the board of directors of the Company (“ Board ”) wishes to inform shareholders of the Company (“ Shareholders ’) and potential investors that the unaudited consolidated profit attributable to the owners of the Company for the six months ended 31 January 2018 are expected to record a significant increase from that of HK$913 million for the six months ended 31 January 2017.

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The expected increase in consolidated profit attributable to owners of the Company, based on unaudited consolidated management accounts, is primarily due to substantial increase in revaluations of investment properties owned by the Group and held through joint ventures of the Group during the period under review. Shareholders should note that the Group’s unaudited interim results for the six months ended 31 January 2018 have not yet been finalised and is subject to review by the Company’s audit committee.

As the Group’s unaudited interim results for the six months ended 31 January 2018 have not yet been finalised, the information contained in this announcement is based on the information that is currently available and the preliminary unaudited consolidated management accounts of the Group which have not yet been reviewed by the Company’s audit committee. The unaudited interim results of the Group for the six months ended 31 January 2018 are expected to be published on 22 March 2018.

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

By Order of the Board Lai Sun Development Company Limited Chew Fook Aun Executive Director and Deputy Chairman

Hong Kong, 15 March 2018

As at the date of this announcement, the board of directors of the Company comprises the following members:

Executive Directors: Dr. Lam Kin Ngok, Peter (Chairman) and Messrs. Chew Fook Aun (Deputy Chairman), Lau Shu Yan, Julius (Chief Executive Officer) and Lam Hau Yin, Lester; Non-Executive Directors: Dr. Lam Kin Ming and Madam U Po Chu; and

Independent Non-Executive Messrs. Lam Bing Kwan, Leung Shu Yin, William and Ip Shu Kwan, Stephen. Directors:

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