DE-LISTING OF XINGQUAN INTERNATIONAL SPORTS HOLDINGS LIMITED

Bursa Malaysia Securities Berhad (Bursa Securities) has decided to de-list Xingquan International Sports Holdings Limited (XINQUAN or the Company) pursuant to paragraphs 9.28(6) and 16.11(1)(b) of the Bursa Securities Main Market Listing Requirements (Main LR) as XINQUAN has failed to announce/issue the Company’s quarterly reports for financial period ended 31 March 2017 until 30 September 2018 and annual report that included the annual audited financial statements together with the auditors’ and directors’ reports for the financial year ended 30 June 2017, exceeding 6 months from the stipulated timeframe under paragraphs 9.22(1) and 9.23(1) of the Main LR and until to-date.

In the circumstances, the securities of XINQUAN will be removed from the Official List of Bursa Securities on 16 August 2019 unless the Company submits an appeal to Bursa Securities within 5 market days from today i.e. by 13 August 2019 (Appeal Timeframe).

In the event the Company submits an appeal to Bursa Securities within the Appeal Timeframe, the removal of the securities of the Company from the Official List of Bursa Securities on 16 August 2019 shall be deferred pending the decision on the Company’s appeal.

Effect of De-listing from the Official List of Bursa Securities

With respect to the securities of the Company which are currently deposited with Bursa Malaysia Depository Sdn Bhd (“Bursa Depository”), the securities may remain deposited with Bursa Depository notwithstanding the de-listing of the securities from the Official List of Bursa Securities. It is not mandatory for the securities of a company which has been de-listed to be withdrawn from Bursa Depository.

Alternatively, shareholders of the Company who intend to hold their securities in the form of physical certificates, can withdraw these securities from their Central Depository System (CDS) accounts maintained with Bursa Depository at any time after the securities of the Company have been de-listed from the Official List of Bursa Securities. This can be effected by the shareholders submitting an application form for withdrawal in accordance with the procedures prescribed by Bursa Depository. These shareholders can contact any Participating Organisation of Bursa Securities and/or Bursa Securities’ General Line at 03-2034 7000 for further information on the withdrawal procedures.

Upon the de-listing of the Company, the Company will continue to exist but as an unlisted entity. The Company is still able to continue its operations and business and/or proceed with its corporate restructuring and its shareholders can still be rewarded by the Company’s performance. However, the shareholders will be holding shares which are no longer quoted and traded on Bursa Securities.