Highlights of 2019/20 Half-YearResults

• Group salesUS$1,565 million -- down 7% compared to first half of the prior financialyear.  Excluding the impact of foreignexchange rate changes, sales decreased by 4%
• Grossprofit US$357 million or 22.8% of sales (compared to US$398 million or 23.8% ofsales in prior half year)
• Net profit attributableto shareholders increased by 16% to US$162 million or 18.44 US cents per shareon a fully diluted basis
• Underlyingnet profit, excluding the net impact of significant non-cash and divesteditems, decreased by 16% to US$106 million
• Free cashinflow from operations US$83 million (compared to an outflow of US$3 million inprior half year)
• Total debtto capital ratio of 16% and cash reserves of US$232 million as of 30 September2019
• Interimdividend 17 HK cents per share (2.18 US cents per share) with a scrip dividendalternative

HONG KONG, CHINA - MediaOutReach - 6 November2019 - Johnson Electric HoldingsLimited ("Johnson Electric"), a global leader in electric motors and motionsubsystems, today announced its results for the six months ended 30 September2019.

TotalGroup sales for the first half of FY19/20 totalled US$1,565 million, a decreaseof 7% over the first half of the prior financial year. Excluding the impact offoreign exchange rate changes, underlying sales decreased by 4%. Net profitattributable to shareholders increased by 16% to US$162 million or 18.44 UScents per share on a fully diluted basis. Underlying net profit, afteradjusting for the effects of a number of significant non-cash and divesteditems, decreased by 16% to US$106 million.

Globalmanufacturing is experiencing its sharpest and most geographically widespreaddownturn since 2012. In this challenging operating environment, JohnsonElectric is continuing to make positive progress across a range of keystrategic initiatives aimed at further strengthening its competitive position andits ability to adapt to what have become increasingly unstable andunpredictable conditions for global trade.

Overview of Financial Results

TheAutomotive Products Group ("APG"), which accounted for 79% of total Groupsales, reported a 1% decrease in sales on a constant currency basis compared tothe first half of the prior year. The strongest business unit performances camefrom Engine and Transmission Management, Actuation Systems and StackpoleInternational, which each benefited from a number of new programme launches andsustained demand for advanced technology solutions that help to reduceemissions and enable electrification.

APG's modest decline in salesrevenue should be set against a sharp contraction in automotive industryproduction volumes during the period under review. Global light vehicleproduction declined by 6%, with all major geographic regions experiencing fallsin output. Most significant was the 13% decline in the China market, which hasbeen the industry's largest source of demand growth for the past two decades.The current slowdown in the overall Chinese economy includes the effect ofescalating trade tensions with the United States which has increaseduncertainty and weakened consumer confidence. Subdued macroeconomic activityhas had a similar effect on the car industry in Europe where productiondecreased by 4%. Even in North America, which has been a comparative brightspot in terms of jobs growth and consumer spending for much of 2019, lightvehicle production declined by 2%.

TheIndustry Products Group ("IPG"), which contributed 21% of total Group sales,recorded a 14% decline in sales in constant currency terms in the first half. Acombination of factors contributed to this disappointing performance. Theseincluded depressed demand across a number of end markets due to the US-Chinatrade dispute and some customer-specific programme delays or cancellations. Thedivision has continued to deliver growth in several product applications, suchas ventilation, vital signs monitoring and semiconductor equipment; and theevolution of its product mix towards higher value-adding technology hasmaintained gross margins. Nonetheless, it is proving difficult to make progressagainst the downturn in global manufacturing activity for IPG in the near term.

Grossprofit decreased by 10% to US$357 million -- which as a percentage of salesrepresented a decline from 23.8% to 22.8%. The year-on-year decrease in marginsreflected the combination of lower sales volumes, increased depreciation andpricing pressure. However, comparing the second half of FY18/19 to the firsthalf of FY19/20, gross profit margins improved by 0.8%. The beginnings of thisturnaround in the trajectory of the Group's gross margin is primarily due toreduced material costs and lower direct labour expenses.

Groupoperating profits amounted to US$192 million compared to US$171 million in thefirst half of the prior financial year. The improvement in reported operatingincome and in net profit attributable to shareholders was primarily due to asubstantial increase in the net contribution from Other Income and Expenses,which itself comprised of a number of positive and negative non-cash items.This included a US$41 million fair value gain, after deducting transactioncosts and other adjustments, related to an investment property in Hong Kongthat was divested in October 2019.

Interim Dividend

TheBoard has today declared an interim dividend of 17 HK cents per share,equivalent to 2.18 US cents per share (2018 interim: 17 HK cents per share).The interim dividend will be payable in cash with a scrip alternative where a4% discount on the subscription price will be offered to shareholders who electto subscribe for shares. Full details of the scrip dividend alternative will beset out in a circular to shareholders.

Theinterim dividend will be payable on 3 January 2020 to shareholders registeredon 27 November 2019.

Adapting to the Changing Operating Environment

Althoughthere have been recent indications that the United States and China may reachsome form of interim settlement of their trade dispute, the prospects for thismuch needed de-escalation remain far from certain. It has also becomeincreasingly apparent that the strategic rivalry between the two superpowers isnow deeply entrenched in geopolitics and is likely to continue to shape globaltrade and economic affairs for the foreseeable future.

Thedirect impact of US tariffs on Johnson Electric's business to date has beenrelatively limited. Based on current sales volumes and the status of specifictariffs in force, US tariffs are being paid on less than 2% of the Group'stotal sales. As the trade dispute has intensified, however, the indirecteffects are becoming more apparent. End-market demand in a number of industrieshas weakened due to lower consumer confidence and many economists have linkedthe scaling back or cancellation of new capital investments to the unstablestate of global trade relations. It is also evident that some purchasingmanagers, who may initially have anticipated the trade dispute to be temporary,are now looking to diversify their supply base and reduce their reliance onChina.

JohnsonElectric is better positioned than many global component manufacturers to copewith these conditions. Our sources of end demand are broadly divided betweenAsia, Europe and the Americas; and our manufacturing footprint already extendsto over 30 plants in 18 countries. Nonetheless, these challenges are requiringmanagement to give careful consideration to how we will configure ourproduction assets to operate in a world that is less favourable to theinterwoven global supply chains that have emerged over the past severaldecades.

Atthe same time as ensuring that we have a robust and adaptable manufacturingmodel, the Group is focused on executing a set of strategies that willstrengthen and sustain the business through this difficult period in theeconomic cycle. Firstly, we are continuing to invest in product innovations thatsolve our customers' most critical motion and electromechanical-relatedproblems -- with a particular emphasis on solutions that help to reduceemissions, improve energy efficiency and increase controllability. Secondly, weare progressively increasing advanced automation in our production processesand adopting the latest digital technology to reduce defects and improvecustomer responsiveness. Thirdly, we are continuing to explore opportunities tomake selective acquisitions where we see potential to strengthen the Group'scapabilities and improve its longer-term growth prospects.

Chairman's Comments on the Half-Year Results and Outlook

Commenting on the results, Dr. Patrick Wang, Chairman andChief Executive, said, "JohnsonElectric performed satisfactorily in the six month period ended 30 September2019 in the face of difficult macroeconomic and industry conditions".

Dr. Wang further commented, "Thenear term outlook for the global economy, especially in the manufacturingsector, remains subdued with most observers perceiving more downside risk. InJohnson Electric's case, overall sales volumes have shown a modestly improvedrun-rate in the past three months especially in our automotive componentsdivision. If this trend continues, we are cautiously optimistic that sales inthe second half of the financial year will exceed that of the first half -- withthe result that full year total group sales will be only slightly below that ofthe prior year".

About Johnson Electric Group

The Johnson Electric Group isa global leader in electric motors, actuators, motion subsystems and relatedelectro-mechanical components. It serves a broad range of industries includingAutomotive, Smart Metering, Medical Devices, Business Equipment, Home Automation,Ventilation, White Goods, Power Tools, and Lawn & Garden Equipment. TheGroup is headquartered in Hong Kong and employs over 37,000 individuals in morethan 23 countries worldwide.  JohnsonElectric Holdings Limited is listed on The Stock Exchange of Hong Kong Limited(Stock Code: 179). For further information, please visit: www.johnsonelectric.com.

Forward Looking Statements

This news release contains certain forward looking statements withrespect to the financial condition, results of operations and business ofJohnson Electric and certain plans and objectives of the management of JohnsonElectric.

Words such as "outlook", "expects", "anticipates", "intends", "plans","believe", "estimates", "projects", variations of such words and similarexpressions are intended to identify such forward-looking statements.  Such forward looking statements involve knownand unknown risk, uncertainties and other factors which may cause the actualresults or performance of Johnson Electric to be materially different from anyfuture results or performance expressed or implied by such forward lookingstatements.  Such forward lookingstatements are based on numerous assumptions regarding Johnson Electric'spresent and future business strategies and the political and economicenvironment in which Johnson Electric will operate in the future.