FLAME HOLDINGS LIMITED (“FLAME HOLDINGS”) ISSUED A POSITIVE PROFIT WARNING ON 19 MARCH 2024, EXPECTING UNAUDITED REVENUE FOR FY 2023 TO GROW BY MORE THAN 17% COMPARED TO THE PREVIOUS FISCAL YEAR AND UNAUDITED PROFIT GROWTH OF MORE THAN 1,500%. This significant increase was primarily due to the contribution of other one-time income from the acquisition of Tak Shing International Holdings Limited, including the right to redeem notes and waive outstanding principal and related interest, totaling RMB529,086,825. THE COMPANY REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS THAT ACTUAL RESULTS MAY DIFFER FROM THOSE ANTICIPATED AND ADVISES TO FOCUS ON THE ANNOUNCEMENT OF ITS FISCAL 2023 RESULTS, WHICH WILL BE ANNOUNCED IN LATE MARCH 2024. The members of the Board of Directors of Hoe Yan Holdings include Executive Directors, Mr. Zhou Zhiwei, Mr. Gao Bo and Ms. Wang Xin, as well as Independent Non-Executive Directors Ms. Zhou Yuan-shan, Mr. Tan Shui-yi and Mr. Luo Zibang.

FLAME HOLDINGS LIMITED (“FLAME HOLDINGS”) ISSUED A POSITIVE PROFIT WARNING ON 19 MARCH 2024, EXPECTING UNAUDITED REVENUE FOR FY 2023 TO GROW BY MORE THAN 17% COMPARED TO THE PREVIOUS FISCAL YEAR AND UNAUDITED PROFIT GROWTH OF MORE THAN 1,500%. This significant increase was primarily due to the contribution of other one-time income from the acquisition of Tak Shing International Holdings Limited, including the right to redeem notes and waive outstanding principal and related interest, totaling RMB529,086,825. THE COMPANY REMINDS SHAREHOLDERS AND POTENTIAL INVESTORS THAT ACTUAL RESULTS MAY DIFFER FROM THOSE ANTICIPATED AND ADVISES TO FOCUS ON THE ANNOUNCEMENT OF ITS FISCAL 2023 RESULTS, WHICH WILL BE ANNOUNCED IN LATE MARCH 2024. The members of the Board of Directors of Hoe Yan Holdings include Executive Directors, Mr. Zhou Zhiwei, Mr. Gao Bo and Ms. Wang Xin, as well as Independent Non-Executive Directors Ms. Zhou Yuan-shan, Mr. Tan Shui-yi and Mr. Luo Zibang.