Reference is made to the announcements dated 7 July 2017, 6 September 2017, 12 September 2017, 7 November 2017, 9 November 2017, 26 January 2018, 6 March 2018, 13 April 2018, 30 May 2018 and 13 June 2018. Unless stated otherwise, the terms used herein shall carry the same meaning as those defined in the aforesaid announcements.

On 13 June 2018, Sunzen Biotech Berhad (“Sunzen” or “the Company”) had completed the acquisition of 5,250,000 ordinary shares in Ecolite Biotech Manufacturing Sdn Bhd ("Ecolite"), representing 70% equity interest in Ecolite from Chum Mun Cuan and Lim Poh Chuw for a total purchase consideration of RM12,050,360 which was satisfied by the issuance and allotment of 40,848,678 new shares in Sunzen at an issue price of RM0.295 per Sunzen share ("Acquisition").

The Board of Directors of Sunzen wishes to inform that the following entity is a subsidiary of Ecolite Group.

*GYFT is held through Ecolite China Co., Limited (“Ecolite China”), which in turn is a wholly owned subsidiary of Ecolite.

Based on the due diligence conducted then on Ecolite Group for the Acquisition, there were no documents that showed probable reasoning that GYFT is a subsidiary of Ecolite China. GYFT has no significant contribution to the financial results of Ecolite Group. During the course of audit for the financial year ended 31 December 2019, the Company was then made aware of GYFT and was reported as a subsidiary of Ecolite Group.

Sunzen had consolidated the financial results of GYFT in its audited financial statements for the financial year ended 31 December 2019 and recognised GYFT as a subsidiary of Ecolite Group.

This announcement is dated 18 September 2020.