WONG’S KONG KING INTERNATIONAL (HOLDINGS) …

1 1 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. WONG S KONG KING INTERNATIONAL (HOLDINGS) LIMITED(Incorporated in Bermuda with limited liability)(Stock Code: 532)ANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2017 The Board of Directors of Wong s Kong King INTERNATIONAL (Holdings) Limited (the Company ) announces that the audited consolidated results of the Company and its subsidiaries (the Group ) for the year ended 31 December 2017, together with comparative figures for the corresponding period in 2016 are as follows.

2 CONSOLIDATED INCOME STATEMENTFOR THE YEAR ENDED 31 DECEMBER 201720172016 NoteHK$ 000HK$ 000 Revenue24,928,3064,289,354 Gain on disposal of a subsidiary 7,760 Other gains7,07111,538 Raw materials and consumables used(2,548,438)(2,381,965)Purchases of finished goods(1,302,853)(930,753)Changes in inventories of finished goods and work in progress43,94221,976 Employee benefit expenses(653,117)(615,207)Depreciation and amortisation(50,043)(57,704)Other expenses(265,316)(250,053) Operating profit159,55294,946 Finance income3,3904,555 Finance costs(10,928)(5,622) Finance costs, net(7,538)(1,067) 220172016 NoteHK$ 000HK$ 000 Share of profit/(loss) of a joint venture711(221)Write-back of/(provision for) impairment of amount due from a joint venture305(305) 1,016(526) Profit before income tax153,03093,353 Income tax expense3(39,182)(41,152) Profit for the year2113,84852,201 Attributable to.

3 Owners of the Company111,47145,164 Non-controlling interests2,3777,037 113,84852,201 Earnings per share for profit attributable to the owners of the Company during the year(expressed in HK cents per share) 3 CONSOLIDATED BALANCE SHEETAT 31 DECEMBER 201720172016 NoteHK$ 000HK$ 000 ASSETSNon-current assetsLand use rights12,58412,944 Property, plant and equipment519,077532,180 Deposits and prepayments7,5575,352 Intangible assets3,1855,804 Interests in joint ventures1,405377 Deferred tax assets4,4244,656 Available-for-sale financial assets43,88144,264 Club membership and debentures14,42214,422 606,535619,999 Current assetsInventories811,652565,843 Trade and other receivables51,402,9541,270,449 Deposits and prepayments72,87755,813 Tax recoverable1,3972,255 Derivative financial instruments 2 Short-term time deposits78,48978,732 Cash and cash equivalents536,568229,238 2,903,9372,202,332 Total assets3,510,4722,822.

4 331 LIABILITIESNon-current liabilitiesObligations under finance leases due after one year78106 Provision for assets retirement obligations1,7101,710 Deferred tax liabilities416832 Retirement benefit obligations8,7977,425 11,00110,073 420172016 NoteHK$ 000HK$ 000 Current liabilitiesTrade, bills and other payables61,085,855834,254 Current income tax liabilities22,44320,104 Bank borrowings due within one year711,078372,175 Obligations under finance leases due within one year3433 Derivative financial instruments6671,276 1,820,0771,227,842 Total liabilities1,831,0781,237,915 EQUITYC apital and reserves attributable to owners of the CompanyShare capital773,77175,224 Reserves1,513,3531,417,911 1,587,1241,493,135 Non-controlling interests92,27091,281 Total equity1,679,3941,584,416 Total equity and liabilities3,510,4722,822,331 5 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 201720172016HK$ 000HK$ 000 Profit for the year113,84852,201 Other comprehensive (loss)/income:Item that will not be reclassified subsequently to profit or lossRemeasurements of post-employment benefit obligations, net of tax(706)(53)Items that may be reclassified to profit or lossCurrency translation differences41,694(20,159)Fair value (losses)/gains on available-for-sale financial assets, net of tax(841)2,469 Total comprehensive income for the year153,99534,458 Attributable to:Owners of the Company145,20626,192 Non-controlling interests8,7898,266 153,99534,458 6 NOTES:1.

5 BASIS OF PREPARATIONThe consolidated financial information has been prepared in accordance with all applicable Hong Kong Financial Reporting Standards ( HKFRS ). In addition, the consolidated financial information includes the applicable disclosures required by the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (the Hong Kong Stock Exchange ) and by the Hong Kong Companies consolidated financial information has been prepared under the historical cost convention, as modified by the revaluation of available-for-sale financial assets and financial assets and financial liabilities (including derivative financial instruments) at fair value through profit or loss, which are carried at fair the current year, the Company and its subsidiaries (collectively the Group )

6 Has applied, for the first time, a number of new standards, amendments and interpretations issued by the Hong Kong Institute of Certified Public Accountants, which are effective for the Group s financial year beginning on 1 January following amendments and interpretations have been adopted by the Group for the first time for the financial year beginning on or after 1 January 2017: Recognition of Deferred Tax Assets for Unrealised Losses Amendments to HKAS 12 Disclosure initiative Amendments to HKAS 7 Disclosure of Interest in Other Entities Amendments to HKFRS 12 The adoption of the above amended standards has no significant impact on the Group s consolidated financial standards and amendments and interpretations to standards have been issued but are not effective for the financial period beginning 1 January 2017 and have not been adopted.

7 (i) HKFRS 9 Financial Instruments Nature of changeHKFRS 9 Financial Instruments addresses the classification, measurement and derecognition of financial assets and financial liabilities, introduces new rules for hedge accounting and a new impairment model for financial assets. The Group has decided not to adopt HKFRS 9 until it becomes mandatory on 1 January Group has reviewed its financial assets and liabilities and is expecting the following impact from the adoption of the new standard on 1 January majority of the Group s equity instruments that are currently classified as available-for-sale (AFS) will satisfy the conditions for classification as at fair value through other comprehensive income (FVOCI) and hence there will be no change to the accounting for these other financial assets held by the Group include.

8 Equity instruments currently measured at fair value through profit or loss (FVPL) which will continue to be measured on the same basis under HKFRS 9 Accordingly, the Group does not expect the new guidance to affect the classification and measurement of these financial assets. However, gains or losses realised on the sale of financial assets at FVOCI will no longer be transferred to profit or loss on sale, but instead reclassified below the line from the FVOCI reserve to retained earnings. During the 2017 financial year, there was no disposal of available-for-sale financial will be no impact on the Group s accounting for financial liabilities, as the new requirements only affect the accounting for financial liabilities that are designated at fair value through profit or loss and the Group does not have any such liabilities.

9 The derecognition rules have been transferred from HKAS 39 Financial Instruments: Recognition and Measurement and have not been new hedging accounting rules have no impact to the Group since the Group does not have any hedging new impairment model requires the recognition of impairment provisions based on expected credit losses (ECL) rather than only incurred credit losses as is the case under HKAS 39. It applies to financial assets classified at amortised cost, debt instruments measured at fair value through other comprehensive income, contract assets under HKFRS 15 Revenue from Contracts with Customers, lease receivables, loan commitments and certain financial guarantee contracts. Based on the assessments undertaken to date, the Group does not expect the adoption to have significant impact to the loss allowance for trade of adoption by the GroupMust be applied for financial years commencing on or after 1 January 2018.

10 The Group will apply the new rules retrospectively from 1 January 2018, with the practical expedients permitted under the standard. Comparatives for 2017 will not be restated.(ii) HKFRS 15 Revenue from Contracts with Customers Nature of changeThe HKICPA has issued a new standard for the recognition of revenue. This will replace HKAS 18 which covers contracts for goods and services and HKAS 11 which covers construction contracts and the related literature. The new standard is based on the principle that revenue is recognised when control of a good or service transfers to a customer. The standard permits either a full retrospective or a modified retrospective approach for the of adoption by the GroupMandatory for financial years commencing on or after 1 January 2018.