Introduces Chartwell Capital as strategic investor

HONG KONG, CHINA - Media OutReach - 5 October 2020 - Jia Group Holdings Limited ("Jia Group" or the "Group", HK stock code:8519) announced that the Group completed the placing of 172 million new sharesat HK$0.08 per share, and the net proceeds of the placing are approximatelyHK$13.2 million. The placing received positive responses and wasoversubscribed, reflecting capital market's optimistic view on the Group'soperations and prospects. In addition, the Group is delighted to introduceChartwell Capital as strategic investor. Upon completion of the transaction,Chartwell Capital will hold approximately 5.2% of the enlarged share capital ofJia Group.

The net proceedsfrom the placement of new shares will be used to develop the cloud kitchenbusiness of the Group; upgrade the sales channels of the Group including "JIAEverywhere", the online/offline delivery platform of the Group; invest inpotential PRC or overseas food and beverage related investment opportunities;develop new catering outlets of the Group and brand management; and repay loanto further strengthen financial capability.

Ms. Wong Pui Yain,Chairperson of Jia Group, said, "Our group is a leading F&B operator withstrong brand value and growth potential in the Greater Bay Area. Our newcatering tech business will disrupt the food scene that help our Group capturegrowth opportunity.  In addition, we arevery pleased to have Chartwell Capital as one of our strategic investors of theGroup. Chartwell's many years of experience will help our group broaden capitalbase and capture growth opportunities to achieve optimal shareholder value."

Mr. Ronald Chan,Founder and Chief Investment Officer of Chartwell Capital Limited, said, "Weare delighted to become a strategic investor in Jia Group and support its cloudkitchen development to broaden its sales channels and brand positioning. We seethe management team proactively repositioning the company for a post-pandemicbusiness environment. As patient investors, we see the shareholder value theyare creating by improving their profitability and operating efficiency over thelong-term."

About Jia Group

Jia Group is awell-established restaurant group in Hong Kong. From Michelin starred diningrooms to cool and calm spaces where no reservations are needed, restaurants andbars under the Group have their own characteristics, spanning both Eastern andWestern fare, with commonality being their authenticity.

Today, the Grouphas more than 10 restaurants and bars in Hong Kong, including Duddell's HongKong, Louise, Andō, MONO, 22 Ships, 208 Duecento Otto, Potato Head Hong Kong,Chachawan, Duddell's Hong Kong Airport, serving a variety of cuisines includingChinese, Thai and French dishes under different brands and themes, offering aninternational portfolio of authentic dining experience. To learn more about theGroup, please visit Jia Group's website at https://www.jiagroup.co

About Chartwell Capital

Founded in 2007,Chartwell Capital seeks overlooked and undervalued investment opportunities inthe Asia-Pacific region. As a long-term and friendly investor, we aim to unlockand create sustainable value for our invested companies. From implementingstronger ESG and corporate governance, setting the right corporate performancemetrics, giving recommendations on succession planning to cultivating newbusiness relationships, our goal is to leverage on our business intelligenceand regional networks to deliver superior returns to our stakeholders and thewider community. To learn more about the company, please visit ChartwellCapital's website at https://www.chartwell-capital.hk