Greenway November 14 | The United States Group (01200.HK) announced that the Competition Commission specifically initiated legal proceedings against the company and some of its subsidiaries and personnel in the Competition Tribunal, accusing them of violating and/or participating in the violation of the first rule of conduct set out in section 6 of the Competition Ordinance, Chapter 619 of the Laws of Hong Kong. The company notes that the Competition Commission has also accused other estate agents of participating in the alleged irregularities, but has exempted such entities from legal proceedings.

The company attaches great importance to the incident and has always paid attention to the full compliance of the Group's operations, and will vigorously defend its position. The company reserves the right to challenge different aspects of the legal process in appropriate circumstances.

The company is seeking legal advice on legal proceedings. The Company will closely monitor and assess the potential impact of the legal process on the Group on the progress of the incident, and will continue to explore all avenues of action that can best protect the value of the company's stakeholders and the livelihoods of its employees. The company will make another announcement in due course.

At present, the Group's business operations and financial situation remain fully normal. In these challenging times, the Group works tirelessly to protect the company's business, industry, and the livelihoods that depend on it. While striving to provide quality services, great sacrifices have been made, including strict measures such as cost control and manpower reduction.

Furthermore, the company has applied to the Stock Exchange to resume stock trading from 9:00 a.m. on November 15, 2023.