Lamtex : FURTHER INFORMATION ON THE WINDING UP PETITION

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 1041)

FURTHER INFORMATION ON THE WINDING UP PETITION

Reference is made to the announcement (the "Announcement") of Lamtex Holdings Limited (the "Company") dated 26 August 2020 in relation to a winding up petition (the "Petition") received by the Company on 20 August 2020. Capitalized terms used herein shall have the same meanings as defined in the Announcement.

THE PETITION

On 20 August 2020, the Company received the Petition from Li Yiqing (the "Petitioner") in the matter of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32, Laws of Hong Kong) (the "Companies (WUMP) Ordinance") filed in the High Court of The Hong Kong Special Administrative Region (the "High Court") under Companies Winding-up Proceedings No. 263 of 2020 that the Company may be wound up by the High Court on the ground that the Company is insolvent and unable to pay its debt. The winding up petition will be heard before the High Court at 10:00 a.m. on 18 November 2020.

The petition was filed against the Company for failure to settle the debt in sum of HK$10,200,000.00, being the principal sum and accrued interests due and owing as at 2 July 2020 in relation to the bond issued by the Company on 30 May 2019 for a term of 1 year due repayable on 28 May 2020.

The Company is seeking for legal advice in respect of the Petition. The Company intends to negotiate with the Petitioner for an amicable settlement of the matter as soon as possible. The Company will make further announcement(s) to keep its shareholders and investors informed of any significant developments in relation to the Petition as and when appropriate.

EFFECT OF THE PETITION UNDER APPLICABLE LAWS AND REGULATIONS

According to Section 182 of the Companies (WUMP) Ordinance and article 166(1) of the Bermuda Companies Act 1981, in a winding up by the court, any disposition of the property of the company, including things in action, and any transfer of shares, or alteration in the status of the members of

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the company, made after the commencement of the winding up, shall, unless the court otherwise orders, be void. Pursuant to Section 184(2) of the Companies (WUMP) Ordinance, the winding up of a company by the court shall be deemed to commence at the time of the presentation of the petition for the winding up.

As such, the Company wishes to remind its shareholders and potential investors that as the Petition was presented to the High Court of Hong Kong on 20 August 2020, the transfer of the shares of the Company made thereafter would be void without a validation order from the High Court of Hong Kong, unless the Petition has been struck out, dismissed or permanently stayed.

CONTINUED SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company on the Stock Exchange was suspended from 9:00 a.m. on 3 August 2020 and will remain suspended until further notice.

The Company will keep the public informed by making further announcement as and when appropriate.

Transfer of Shares may be restricted as the deposits of the Shares into CCASS may be suspended due to the Petitions. Shareholders and potential investors of the Company should exercise caution when they deal or contemplate dealing in the shares of the Company.

By the order of the Board

Lamtex Holdings Limited

Huang Bin

Chairman and Executive Director

Hong Kong, 17 September 2020

As at the date of this announcement, the Board comprises two Executive Directors, namely Mr. Huang Bin and Mr. Liu Kam Lung; three Non-Executive Directors, namely Ms. Zang Yanxia, Mr. Pan Xian and Mr. Sze Ka King; and four Independent Non-Executive Directors, namely Mr. Li Changhui, Mr. Cheung Chi Man Dennis, Mr. Fung Kim Shun and Dr. Wen Yanfeng.

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