Expansion ofElderly Residential Care Homes Network to ProvideQuality Service for the Elderly

Substantial Increaseof 107% in Profit for the Period

ThirdQuarter Unaudited Financial Highlights (For the 9 Months ended 30 September)

*Before deducting listing expenses.

HONG KONG, CHINA - Media OutReach - 7November 2018 - Hang Chi Holdings Limited ("Hang Chi", or the "Company", togetherwith its subsidiaries, the "Group", stock code: 8405.HK), a well-establishedhome-grown operator of elderly residential care homes in Hong Kong, announcedits third quarter results for the 9 months ended 30 September 2018. Benefittingfrom the acquisition of Shui Jun Nursing Centre (Yau Tong) Company Limited ("ShuiJun (Yau Tong)") in November 2017, the Group's revenue surged by 45.39% to approximatelyHK$100.72 million during the reporting period; and the profit for theperiod increased substantially by 106.69% to HK$16.50 million.

During the reporting period, the revenue generatedfrom the rendering of elderly residential care services reached approximatelyHK$77.77 million, which accounted to an increase of 38.49% and approximately 77.21%of the Group's total revenue. The revenue generated by the Hong Kong SocialWelfare Department, which leased a fixed number of places at Hang Chi's elderlyresidential care homes under the Enhanced Bought Place Scheme("EBPS") increased significantly by 23.53% to HK$22.40 million,mainly benefitting from the acquisition of Shui Jun (Yau Tong) in November 2017.In addition, the revenue derived from the rendering of elderly home careservices for individual customers, together with the unsubsidised portions paidby individual customers under the EBPS, increased by approximately 45.48% toHK$55.10 million; the revenue derived from the non-governmental organisationswhich leased residential care places from the Group's elderly residential carehomes increased substantially by 87.86% to HK$263.00 thousand. During thereporting period, the average occupancy rates of the Group's elderlyresidential care homes under EBPS and non-EBPS elderly residential care homeswere 97.39% and 93.96%, respectively.

The Group'sother major revenue was derived from the sales of elderly related goods and provisionof healthcare services. During the reporting period, the related revenue surgedby approximately 74.92% to HK$22.95 million, accounting for approximately 22.79%of the Group's revenue.

Lookingahead, Mr. Yik Tak Chi, Chairman andExecutive Director of Hang Chi said, "We are delighted to see both the Group's revenueand profit recording satisfactory increase during the reporting period. In viewof the enormous market demand for elderly residentialcare homes, the Group will continue to expand its service network in strategiclocations in Hong Kong. The board of directors has resolved to adjust theallocation of proceeds from the Listing for acquisition of operatingresidential care home(s), therefore accelerating the expansion to provide highquality care services for more elderly people."

About Hang Chi Holdings Limited

Hang Chi (HKSE stock code: 8405) is awell-established home-grown operator of elderly residential care homes in HongKong.  Deeply rooted with a history ofover a decade in Hong Kong, the Group operates six self-owned and self-operatedelderly care homes under three brands, which included four "Shui On瑞安",one "Shui Hing 瑞興"and one "Shui Jun 瑞臻",offering a total of 814 residential home places that provide 24-hourcomprehensive home and elderly care services round-the-clock.  Committed to the offering of truly caringservices under a well-managed operational regime, the Group has consistentlymaintained occupancy rate of its elderly residential care homes at around 95%.It has established itself as a synonym for quality elderly care services. 

Formore information on Hang Chi, please visit www.shuionnc.com.