SSY : UNAUDITED OPERATING RESULTS FOR THE THREE MONTHS ENDED 31 MARCH 2021

Hong Kong Exchange 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 the Cayman Islands with limited liability)

(Stock Code: 2005)

UNAUDITED OPERATING RESULTS

FOR THE THREE MONTHS ENDED 31 MARCH 2021

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

The board of directors (the "Board") of the Company is pleased to announce the following unaudited operating results of the Company and its subsidiaries (together, the "Group") for the three months ended 31 March 2021 based on its management accounts which have not been audited or reviewed by the auditor of the Company.

Majority of the Group's sales are conducted in the PRC. In terms of HK$, the unaudited turnover of the Group for the three months ended 31 March 2021 increased by 29.5% as compared with the same period of 2020 to approximately HK$1,231 million (same period of 2020: approximately HK$951 million). The unaudited gross profit of the Group for the three months ended 31 March 2021 was approximately HK$787 million (same period of 2020: approximately HK$562 million), representing an increase of 40.1% as compared with the same period of 2020. The unaudited gross profit margin of the Group for the three months ended 31 March 2021 was approximately 64.0%, representing an increase of 4.9 percentage point as compared with the same period of 2020.

For the three months ended 31 March 2021, the Group's unaudited profit attributable to the shareholders of the Company (the "Shareholders") decreased by 10.6% as compared with the same period of 2020 to approximately HK$194 million (same period of 2020: approximately HK$216 million) mainly due to a grant of 100,000,000 share options on 12 January 2021 by the Company to certain management staff of the Group. A one-offnon-cash expense of approximately HK$67 million was incurred because of such share options for the three months ended 31 March 2021, whereas there was no grant of share options during the same period of 2020.

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For the three months ended 31 March 2021, the abovementioned unaudited turnover of the Group of approximately HK$1,231 million was comprised of the following:

Shareholders and potential investors should note that all financial information contained in this announcement is unaudited. Accordingly, such information shall in no way be regarded as to provide any indication of the audited financial results of the Group for the three months ended 31 March 2021 or any assurance on such audited financial results. Such information may differ from the information to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company on an annual or half-yearly basis due to various uncertainties during the process of compiling such operating results information.

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

On behalf of the Board

Chow Hing Yeung

Company Secretary

Hong Kong, 30 April 2021

As at the date of this announcement, the Board comprises Mr. Qu Jiguang, Mr. Wang Xianjun and Mr. Su Xuejun as executive Directors, Mr. Feng Hao as non-executive Director and Mr. Wang Yibing, Mr. Leung Chong Shun and Mr. Chow Kwok Wai as independent non-executive Directors.

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