Lung Chung China Holdings Limited (“Lung Chung China”) and its wholly-owned subsidiary Fengchong Real Estate Group Limited (“Lung Chung Real Estate”) and its Executive Director Mr. Wang Mengde were subject to disciplinary action by the Shanghai Stock Exchange and the Shenzhen Stock Exchange for failing to disclose the assets within the prescribed period. Interim Report 2022. The exchange publicly condemned Fusion Real Estate and Mr. Wang, while the exchange reported criticism and recorded the matter in its integrity file. The Board of Directors of Fusion China (with the exception of Mr. Wang) has reviewed the relevant letter and considers that the breach was caused by objective reasons and considers that Mr. Wang is still fit to serve as an Executive...Show More

Lung Chung China Holdings Limited (“Lung Chung China”) and its wholly-owned subsidiary Fengchong Real Estate Group Limited (“Lung Chung Real Estate”) and its Executive Director Mr. Wang Mengde were subject to disciplinary action by the Shanghai Stock Exchange and the Shenzhen Stock Exchange for failing to disclose the assets within the prescribed period. Interim Report 2022. The exchange publicly condemned Fusion Real Estate and Mr. Wang, while the exchange reported criticism and recorded the matter in its integrity file. The Board of Directors of Fusion China (with the exception of Mr. Wang) has reviewed the relevant letter and considers that the breach was caused by objective reasons and considers that Mr. Wang is still fit to serve as an Executive Director. The Board of Directors states that this disciplinary action will not have a material adverse effect on the Group's business or operations. Currently, China Fusion and Fusion Real Estate have complied with the disclosure requirements of the latest financial reports. The announcement was made by the Chairman of China Fusion China, Sun Hongbin, on 30 April 2024.