Breathing new life into traditional pawnshop business Launching New App for Digital Loan Applications

HONG KONG SAR - Media OutReach - 4 October 2023 - Oi Wah Pawnshop Credit Holdings Limited (HKEx stock code: 1319.HK, the "Group" or "Oi Wah") is delighted to announce the grand opening of its premier service center located at the MTR East Tsim Sha Tsui Station today, which makes it the Group's first location in MTR station. The Board of Directors of the Group, along with our brand ambassador, Ms. Toby Chan, attended the ribbon-cutting ceremony. The newly unveiled service center, characterized by its fresh design, marries modern aesthetics with the essence of traditional pawnshops. Complemented by the Group's new mobile APP, we are poised to provide customers with a streamlined one-stop loan solution, signifying a groundbreaking shift in the conventional pawnbroking landscape.

The service center has adopted a contemporary interior design to breathe new life into the traditional business. The typical screen at the main entrance commonly known as the "Ze Cau Baan (遮羞板)", has been replaced with a long corridor that guides customers to the back of the shop for pawn services. The thoughtful touch has abolished the old design while still ensuring the privacy of customers and avoiding gazes from onlookers. Instead of high counters, the pawn area now features elegant seating areas and offers a private one-on-one consultation room, enhancing the overall customer experience. In terms of security, the shop retains the "double-lock doors" design from traditional pawnshops -the first door it must be fully closed before the second door can be opened, preventing outsiders from viewing the interior and ensuring security.

Having a strong foothold in the pawnbroking industry for nearly half a century, Oi Wah Pawnshop is proud to be the first local pawnshop to be publicly listed. The Group has consistently been at the forefront of innovation in order to maintain its leadership position in the industry. A testament to this commitment is the Group's upcoming mobile APP. Within the APP, customers can obtain preliminary collateral evaluation, loan valuation and application of loan, etc. By digitizing the entire pawn loan application process, we offer an efficient and streamlined one-stop loan solution, catering to the evolving needs of our clients.

Mr. Edward Chan, Chairman, CEO and Executive Director of Oi Wah, said, "I am optimistic about the long-term growth of loan demand in Hong Kong. I believe that establishing a modernly designed premium service center in bustling MTR stations will help expand our customer base and revenue streams. In addition, the digitization of loan applications and approvals not only accelerates the entire loan process for customers but also enhances their experience. This aligns with the expectations of the new generation for innovative fintech services, ushering in a transformative era for the industry."

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About Oi Wah Pawnshop Credit Holdings Limited

Oi Wah is a financing service provider in Hong Kong, mainly providing short-term secured financing, including pawn loans and mortgage loans. The Group established its first pawnshop in 1975 and currently owns 10 Pawnshops, a property mortgage center, and a MTR premium service centre in various locations in Hong Kong. Oi Wah diversified into mortgage loan business in 2009. The Group is the first local pawn shop which successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 12 March 2013.