Oriental Watch's (398.HK) Official Launch of TimeCare: Empowering Luxury Timepieces with Blockchain Insurance

Oriental Watch Holdings Limited

(Stock code: 398.HK)

Official Launch of TimeCare: Empowering Luxury Timepieces with Blockchain Insurance

(Hong Kong – 15 September 2023) Oriental Watch Holdings Limited (“Oriental Watch” or the “Company” together with its subsidiaries, the “Group”, stock code: 398.HK) is pleased to announce that its wholly-owned subsidiary, Oriental Watch Company Limited, along with YAS Hong Kong and QBE Hong Kong, officially launched its ground-breaking TimeCare insurance service to Hong Kong market today. TimeCare is set to revolutionize the watch insurance landscape by offering unparalleled benefits that will not only protect valuable timepieces but also create waves in the market awareness and customer experience.

Powered by cutting-edge blockchain technology, TimeCare offers customers seamless insurance services during watch purchases. This exclusive offering at all Hong Kong branches reaffirms our commitment to exceptional customer coverage. The streamlined application and insurance claim processes have made TimeCare the talk of the town in blockchain insurance. As more people discover the convenience and reliability of TimeCare, Oriental Watch's brand awareness is on the rise.

To be eligible for TimeCare, customers must be 18 or above, hold a Hong Kong Identity Card and be a registered member of Oriental Watch. They will be invited to enjoy a one-time TimeCare offer after spending HK$30,000 or more on a watch, providing maximum protection of HK$50,000 for one year. With TimeCare, members receive top-notch protection against theft, burglary, and robbery worldwide. In the event of a successful claim, customers will receive an e-voucher that remains valid for 180 days.

TimeCare is more than insurance; it transforms the entire customer journey. Securely storing policy details, coverage information, watch records, and warranty card details, TimeCare offers comprehensive protection globally through a digital format, guaranteeing a seamless and confidential experience accessible worldwide. Moreover, it allows optional disclosure, storage and sharing of the purchase records. This customization not only enhances the shopping experience but also ensures that each customer receives tailored and comprehensive services.

Dennis Yeung, Chairman and Managing Director of Oriental Watch, stated, " At Oriental Watch, our customers are our top priority. We believe luxury encompasses not only exquisite timepieces but also the experience, journey, and trust in us. This led to the creation of TimeCare, an innovative insurance service exceeding tradition for a unique customer experience.

Looking ahead, TimeCare aims to broaden its influence and extend its reach in the luxury watch market. The successful launch in Hong Kong sets the stage for further expansion into other regions, with the potential to inspire industry-wide adoption and drive innovation in the insurance sector. TimeCare is poised to revolutionize luxury watch insurance while enhancing Oriental Watch's market position. It transcends being a mere insurance service; it symbolizes a transformative force within the realm of timepieces.”

About Oriental Watch Holdings Limited

Oriental Watch Holdings Limited is the first watch retailer listed on the Main Board of the Stock Exchange of Hong Kong Limited. Over the years, the Group has developed an extensive retail shop network in the Greater China area, and has become one of the largest watch retailers renowned of its reputation, credibility, and scale. The Group currently carries around a hundred prestigious brands, in particular, famous Swiss brands such as Rolex, Tudor, Breitling, H. Moser Cie, Longines, Omega, Piaget, Ulysse Nardin etc. Today, the Group has become a well-known and trustworthy brand in the Greater China area. The Group will continue to strive for excellence and lead the industry to a new milestone.

About YAS

Established in June 2019, YAS Digital Limited (IA License No. FA2648) is a Hong Kong-based regional insurtech venture with a vision to become the leading insurtech in Asia, carving a new hyper-personalized marketplace for both B2B and B2C customers. It aims to introduce a disruptive new business model, create a new ecosystem and unlock business possibilities, making the sky the limit for the global insurance industry. The company is registered in accordance with the insurance Company Ordinance (Cap.41 of the Laws of Hong Kong) as an insurance agent for local distribution of insurance products.

About QBE Hong Kong

QBE Hong Kong has been serving Hong Kong for more than a century. Today, QBE Hong Kong operations include QBE Hongkong Shanghai Insurance Limited, QBE General Insurance (Hong Kong) Limited, and QBE Mortgage Insurance (Asia) Limited. As a leading general insurer, QBE Hong Kong provides a comprehensive range of non-life Insurance solutions for both business and personal customers. QBE Hong Kong operates through an extensive network of professional Insurance agents and brokers and has an exclusive distribution partnership with Manulife. To learn more about QBE Hong Kong, please visit www.qbe.com/hk.