Max Sight Group Holdings Limited — Capital/Financing Update 2021

Apr 23, 2021

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

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Max Sight Group Holdings Limited 名仕快相集團控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8483)

PROFIT WARNING

This announcement is made by the board (the “ Board ”) of directors (the “ Directors ”) of Max Sight Group 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 (the “ GEM Listing Rules ”) and the Inside Information Provisions (as defined under the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Board wishes to inform the shareholders of the Company (the “ Shareholders ”) and potential investors that based on the information currently available to the Board and a preliminary review of the unaudited consolidated financial statements of the Group for the three months ended 31 March 2021 (the “ 2021 1Q Management Accounts ”), the Group is expected to record net loss after tax of not less than approximately HK$1.6 million as compared to the net loss after tax of approximately HK$2.5 million for the three months ended 31 March 2020. The reasons in relation to the expected net loss after tax for the three months ended 31 March 2021 were attributed to (i) the reduction in the revenue of the Group from approximately HK$6.3 million for the three months ended 31 March 2020 to not more than approximately HK$4.5 million for the three months ended 31 March 2021; and (ii) net-off with certain rental concessions from various property owners. The decline in the revenue was mainly due to the outbreak of the novel coronavirus and the immigration control since early 2020 that have brought the significant decrease in the travel demand, and lead to a further decreased demand of ID photos for the three months ended 31 March 2021. Also, the shortening of business hours and abrupt temporarily closure of business for our licensed sites had happened during the three months ended 31 March 2021.

The Group has been closely monitoring the impact of the developments on the Group’s businesses and has implemented contingency measures. The Group has also been negotiating with various property owners to apply for the rental concessions and seeking for more favourable terms with vendors. The Group will keep continuous attention on the situation of the novel coronavirus and react actively to its impact on the financial position and operating results of the Group.

The Group is still in the process of finalising the 2021 1Q Management Accounts. The information contained in this announcement is only based on the preliminary assessment by the Board with reference to the 2021 1Q Management Accounts and other information currently available to the Group which have not been audited or reviewed by the auditor and audit committee of the Group. Further details of the Group’s financial information and performance will be disclosed in the first quarterly results announcement of the Group for the three months ended 31 March 2021, which is expected to be released on or before 7 May 2021.

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 Max Sight Group Holdings Limited Chan Wing Chai, Jamson Chairman and Executive Director

Hong Kong, 23 April 2021

As of the date of this announcement, the executive Directors are Mr. Chan Wing Chai, Jamson and Mr. Chan Tien Kay, Timmy; the non-executive Directors are Mr. Cheung Kam Ting and Mr. Riccardo Costi; and the independent non-executive Directors are Mr. Ngai James, Mr. Hui Chi Kwan and Mr. Kwok Tsun Wa.

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 GEM website at www.hkgem.com for a minimum period of 7 days from the date of publication and on the website of the Company at www.maxsightgroup.com.