(24 June 2022, Hong Kong) Wealthking-Innovation Capital Limited (“Wealthking” or the “Company”, stock code: 1140.HK) along with its subsidiaries (the “Group”) is pleased to announce its FY2021/2022 annual results for the year ended 31 March 2022 (the “Year”).

Performance Summary

• Profit for the Year amounted to HK$221 million, as compared to HK$373 million for the same period last year;

• Revenue for the Year amounted to HK$93.93 million, as compared to HK$111 million for the same period last year;

• Net asset value was HK$5.528 billion, a year-on-year increase of 22.11%;

• New investment during the Year amounted to HKD 2.561 billion, a significant increase of 54.37% compared to the same period last year.

Annual Performance

During the Year, the Company recorded a profit of HK$221 million, a decrease of 40.61% compared with the same period of last year, mainly due to the continuous COVID-19 pandemic, tense geopolitical relations and a series of industry regulatory measures during the Year, which brought a great impact on the capital market and influenced the valuation of the asset portfolio. The Company's revenue recorded HK$93.93 million, a decrease of 15.01% compared with the same period of last year, primarily attributable to the decrease in interest income due to the maturity of certain debt investments. Benefiting from the two rounds of issue and allotment of new shares completed during the Year, as of March 31, 2022, the Company's net asset value increased from HK$4.527 billion in the same period last year to HK$5.528 billion, a year-on-year increase of 22.11%.

Investment Activities

During the Year, Wealthking continued to implement the tri-engine driving investment strategy, which is core-holding-centered private equity, investment portfolio management as well as trading and others, building an investment portfolio with both liquidity and risk-return through short-, medium- and long-term strategies. With strong capability of investment, financing and resource consolidation, Wealthking invested HK$2.561 billion during the Year, a year-on-year increase of 54.37%. The new investment in the private equity category was HK$315 million, the new investment in the portfolio management category was HK$2.216 billion, and the new investment in the trading and others category was HK$31.01 million. According to market conditions, the Company increased investments in the portfolio management category during the year, to balance the liquidity of the asset portfolio and create more medium-term returns for the Company.

Investment Sectors

Wealthking has always adhered to its mission as an investment company, actively integrating into the national development landscape and serving the national development strategy. The Company's investment sectors have been always tied up with the development tendency of China’s economy, technology and wellbeing, mainly focusing on investment opportunities in high-growth industries including biotechnology, smart manufacturing, and fintech. In recent years, the pandemic has driven life and work online, and digital technology is accelerating the penetration of social and economic life. The Company's board of directors has formulated an investment roadmap around the digital economy during the Year to seize the opportunities of the digital development of the industry. In the past year, the Company has made investments in a variety in respect of the digital economy industry, upstream industries such as semiconductors, optoelectronic production, and software technologies; midstream industries such as digital asset management, and quantum computing; and downstream industries such as digital asset funds.

Issue and Allotment of New Shares for Subscription

As a listed cross-border and cross-sector investment platform, Wealthking, taking advantage of overseas capital markets, combines offshore financial force with domestic industrial development opportunities and is not limited by industry and cycle to grape diversified investment opportunities. In the context of the growing onshore and offshore markets in China, the Company is supported by more investors benefitting from its feature of sustainable development and flexible allocation. The Company strategically completed two rounds of issue and allotment of new shares during the Year, raising a total of approximate HK$741 million, after which the Company continued to drive the investment business and invest in high-quality reserve projects, striving for building a value-leading investment portfolio.

Prospect

Dr. Liu Zhiwei, Chairman and Executive Director of Wealthking commented," In the past year, despite the severe and complex external macro environment, Wealthking has shown development resilience, and the scale of assets under management has achieved steady growth. During the year, the company strategically completed two fundraisings, continuously optimized and enriched the shareholder structure, and capital strength has been further enhanced. In the future, we will continue to make good use of the listed company platform, and cross-border and cross-sector capabilities to strengthen cross-border collaboration and integration, actively expand capital sources and project resources to seize market opportunities, to create diversified returns for shareholders."

About Wealthking-Innovation Capital Limited (1140.HK)

Wealthking-Innovation Capital Limited (1140.HK), listed on the main board of the Stock Exchange of Hong Kong Limited, is a cross-border and cross-sector investment company with strong capabilities of investment, financing, and industry consolidation holding its portfolio covering listed and unlisted companies in multiple sectors. Wealthking Investment builds its cross-cycle portfolio flexibly based on different holding periods and strategies, including core-holding-centered private equity, portfolio management and trading, and others, striving to create diversified and steady returns for shareholders.

Full details of the 2021/2022 annual results have been posted on the designated website of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and the corporate website at www.wealthking.com.hk

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