WLS Holdings Limited — Earnings Release 2022

Dec 8, 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.

WLS Holdings Limited 滙隆控股有限公司[*]

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 8021)

POSITIVE PROFIT ALERT INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 OCTOBER 2021

The board of directors (the “ Board ”) of the Company would like to inform the shareholders of the Company and potential investors that the Group is expected to record a profit of approximately HK$26.8 million for the six months ended 31 October 2021 (the “ Reporting Period ”), as compared to the loss of approximately HK$48.2 million for the six months ended 31 October 2020.

The Company is still in the process of finalising the consolidated interim results of the Group for the six months ended 31 October 2021. The information contained in this announcement is only a preliminary assessment by the management of the Company with reference to the unaudited consolidated management accounts of the Group for the six months ended 31 October 2021, which are subject to adjustments as appropriate and further review by the Board.

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

This announcement is made by WLS Holdings Limited (the “ Company ”, 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 (Chapter 571, Laws of Hong Kong).

• For identification purpose only

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The Board of the Company would like to inform the shareholders of the Company and potential investors that the Group is expected to record a profit of approximately HK$26.8 million for the six months ended 31 October 2021 (the “ Reporting Period ”), as compared to the loss of approximately HK$48.2 million for the six months ended 31 October 2020.

The Board considers that the turnaround in results during the Reporting Period was mainly due to (i) a significant decrease in the recognition of expected credit losses on the balances under the contract assets, trade and loan receivables by approximately HK$19.6 million for the Reporting Period as compared to the corresponding period in 2020; (ii) one-off gain on disposal of the subsidiaries of approximately HK$29.3 million during the Reporting Period; (iii) a significant increase in the fair value gain incurred in the Group’s securities investment portfolios by approximately HK$15.9 million while the fair value loss incurred in the Group’s securities investment portfolios of approximately HK$7.7 million was recorded in the corresponding period in 2020; and (iv) the increase in the gross profit of the Group amounted to approximately HK$10.8 million for the Reporting Period as compared to the corresponding period in 2020.

The Company is still in the process of finalising the consolidated interim results of the Group for the six months ended 31 October 2021.

The information contained in this announcement is only a preliminary assessment by the management of the Company with reference to the unaudited consolidated management accounts of the Group for the six months ended 31 October 2021, which are subject to adjustments as appropriate and further review by the Board. Finalised interim results of the Group and other details will be disclosed in the interim report 2021/2022 to be published by the Company.

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

On behalf of the Board WLS Holdings Limited So Yu Shing Chairman

Hong Kong, 8 December 2021

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As at the date of this announcement, the Board comprises Dr. So Yu Shing (Chairman and Executive Director), Mr. Kong Kam Wang (Executive Director and Chief Executive Officer), Ms. Lai Yuen Mei, Rebecca (Executive Director), Mr. So Wang Chun, Edmond (Executive Director), Mr. Tse Fung Chun (Executive Director), Mr. Law Man Sang (Independent Non-executive Director), Ms. Lam Wai Yu (Independent Non-executive Director) and Mr. Lo Ka Ki (Independent Non-executive Director).

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 and on the website of the Company at http://www.wls.com.hk for at least of 7 days from the date of its posting.

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