Gelonghui September 7?SEHK's response to 01683.HKDisciplinary actions of two former directors

Punish

The Stock Exchange of Hong Kong Limited (SEHK)

Issue a statement of the inappropriateness of directors to:

(1) Shen Jie, former Chairman and Executive Director of Kuangyi International Holdings Limited (the company)

And

Issue a statement impairing the rights and interests of investors to:

(2) Ren Huiyong, former chairman and executive director of the company.

(the directors mentioned in (1) to (2) above are collectively referred to as the relevant directors.)

In addition to the above statement to the relevant directors, the SEHK also publicly condemns each of them.

The statement of inappropriateness of directors means that in the opinion of the Stock Exchange, Shen Jie is not suitable to hold a director or senior management position in the company or any of its subsidiaries.

The statement of damage to investors means that the SEHK is of the view that if Yam Huiyong remains a director of the board of directors of the company, it will harm the rights and interests of investors.