CHINASOUTHCITY ANNOUNCED ON 29 APRIL 2024 THAT IN ORDER TO ADDRESS THE COMPANY'S CURRENT LIQUIDITY CHALLENGES AND TO ENSURE THE CONTINUED OPERATION AND FUTURE DEVELOPMENT OF THE GROUP, IT HAS APPOINTED AMMAI FINANCE CONSULTANTS LIMITED AND NILIDA LAW FIRM AS FINANCIAL ADVISORS AND LEGAL ADVISERS RESPECTIVELY TO EXPLORE FOREIGN DEBTS A comprehensive solution for business. Through these advisors, the Company will engage in a transparent dialogue with overseas creditors and pledge to treat all creditors fairly. South China City reiterates its commitment to a comprehensive solution to protect the interests of all stakeholders, and will continuously monitor developments, assess the impact on business and finances, and issue major updates in due course. THE COMPANY REMINDS INVESTORS TO CONSIDER THE RISKS INVOLVED WHEN TRADING SECURITIES AND ADVISES TO SEEK PROFESSIONAL ADVICE IF THEY HAVE QUESTIONS.

CHINASOUTHCITY ANNOUNCED ON 29 APRIL 2024 THAT IN ORDER TO ADDRESS THE COMPANY'S CURRENT LIQUIDITY CHALLENGES AND TO ENSURE THE CONTINUED OPERATION AND FUTURE DEVELOPMENT OF THE GROUP, IT HAS APPOINTED AMMAI FINANCE CONSULTANTS LIMITED AND NILIDA LAW FIRM AS FINANCIAL ADVISORS AND LEGAL ADVISERS RESPECTIVELY TO EXPLORE FOREIGN DEBTS A comprehensive solution for business. Through these advisors, the Company will engage in a transparent dialogue with overseas creditors and pledge to treat all creditors fairly. South China City reiterates its commitment to a comprehensive solution to protect the interests of all stakeholders, and will continuously monitor developments, assess the impact on business and finances, and issue major updates in due course. THE COMPANY REMINDS INVESTORS TO CONSIDER THE RISKS INVOLVED WHEN TRADING SECURITIES AND ADVISES TO SEEK PROFESSIONAL ADVICE IF THEY HAVE QUESTIONS.