The Board is pleased to announce that the Company has submitted a formal application to The Stock Exchange of Hong Kong Limited (the "Stock Exchange") today for the proposed Transfer of Listing pursuant to the relevant provisions of the GEM Listing Rules and the Listing Rules . The proposed Transfer of Listing will not involve the issue of any new Shares by the Company.

Shareholders and potential investors of the Company should note that the proposed Transfer of Listing is subject to, among other things, the approval from the Stock Exchange, and may or may not proceed. Accordingly, the Shareholders and potential investors of the Company are reminded to exercise caution when dealing in the Shares.