Embry : (1) Positive Profit Alert and (2) Announcement on Sales Update for the Period from January to March of 2021

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EMBRY HOLDINGS LIMITED

安莉芳控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1388)

1. 1. POSITIVE PROFIT ALERT
      AND
2. ANNOUNCEMENT ON SALES UPDATE

FOR THE PERIOD FROM JANUARY TO MARCH OF 2021

This announcement is made by Embry Holdings Limited (the "Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

POSITIVE PROFIT ALERT

The board (the "Board") of directors of the Company (the "Directors") wishes to inform the shareholders of the Company and potential investors that, based on the information currently available to the Company and the preliminary assessment of the unaudited consolidated management accounts of the Group for the three months ended 31 March 2021 (the "Q1 Period"), it is expected that the Group will record a net profit for the Q1 Period as compared to the net loss position for the corresponding period in 2020. The net profit of the Group was mainly attributable to (i) the normalised market demand in the mainland retail market in the Q1 Period as compared with the corresponding period in 2020 with the gradual recovery from COVID-19 in China; and (ii) the cost control measures adopted by the Group since 2020.

SALES UPDATE FOR THE PERIOD FROM JANUARY TO MARCH OF 2021

Since the retail market in the mainland has been recovering from the outbreak of COVID-19 during the Q1 Period, overall sales of the Group for the Q1 Period increased by approximately 27% as compared to the same period of last year. During the Q1 Period, for stores that had been in operation for more than 15 months, same store sales recorded a double-digit increase year-on- year. As at the end of March 2021, there were a total of 1,378 retail outlets, comprising 1,158 concessionary counters and 220 retail shops. The number of retail outlets net decreased by 20 as compared to the end of December last year.

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The information contained in this announcement is only based on the Board's preliminary assessment after reviewing the unaudited consolidated management accounts of the Group for the Q1 Period. The Group's half year results are subject to review by the Board, the audit committee of the Board and the Company's independent auditor. Therefore, the actual results of the Group for the six months ending 30 June 2021 may differ from the information contained in this announcement.

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 of

Embry Holdings Limited

Cheng Man Tai

Chairman

Hong Kong, 27 April 2021

As at the date of this announcement, the Board comprises five executive Directors, namely Mr. Cheng Man Tai (Chairman), Ms. Cheng Pik Ho Liza (Chief Executive Officer), Madam Ngok Ming Chu, Mr. Cheng Chuen Chuen and Ms. Lu Qun; and three independent non-executive Directors, namely Mr. Lau Siu Ki, Mr. Lee Kwan Hung and Prof. Lee T. S.

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