Sun Cheong Creative Development : UPDATE ON LITIGATION AND WINDING UP PETITIONS

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.

SUN CHEONG CREATIVE DEVELOPMENT HOLDINGS LIMITED

新 昌 創 展 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability) (Provisional Liquidators Appointed)

(For Restructuring Purposes)

(Stock code: 1781)

UPDATE ON LITIGATION AND WINDING UP PETITIONS

This announcement is made by Sun Cheong Creative Development Holdings Limited (the "Company") pursuant to Rule 13.09(2)(a) and Rule 13.25 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements dated 7 January 2020, 8 January 2020, 22 January 2020, 3 February 2020, 12 February 2020, 10 March 2020, 24 June 2020, 6 July 2020, 8 July 2020, 4 August 2020 and 1 September 2020 of the Company in relation to certain litigation and winding up petitions. Unless otherwise defined, terms used herein shall have the same meanings as defined in the announcement dated 7 January 2020 of the Company.

The board of Directors wishes to update the shareholders and potential investors of the Company that the hearing of the winding up petitions under action numbers HCCW 403 of 2020 (the "Petition") will be adjourned with liberty to restore until 11 January 2021 by the Judiciary of Hong Kong. HCCW 28 of 2020 was ordered to be dismissed by the Judiciary of Hong Kong. The creditor of HCCW 28 of 2020 will now act as a supporting creditor in the Petition. Further announcements on the Petition will be made by the Company as and when appropriate.

SUSPENSION OF TRADING

At the request of the Company, trading in the shares of the Company has been suspended since 9:00 a.m. on 2 July 2020, and will remain in suspension until further notice.

Shareholders and potential investors should accordingly exercise caution when dealing in the securities of the Company.

- 1 -

By order of the Board

(Provisional Liquidators Appointed)

(For Restructuring Purposes)

Sun Cheong Creative Development Holdings Limited

Chan Sai On Bill

Executive Director

Hong Kong, 23 September 2020

As at the date of this announcement, the executive Directors are Mr. Chan Sai On Bill and Mr. Ng Chun Chung; and the independent non-executive Directors are Mr. Li Ka Chun, Mr. Sze Chun Wai and Mr. Fung Wai Hang.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statements in this announcement misleading.

- 2 -