Wise Wealth APP News, Water Industry (01129) announced that the Independent Non-Executive Directors (Mr. Huang Zhaoqiang, Mr. Lin Changsheng, and Mr. Mai Jiarong) have formed an Independent Directors Committee to provide advice to independent shareholders on the fairness and reasonableness of the terms of the share offer and whether they are in the overall interest of the company and shareholders, and to advise on how to vote at the special general meeting of shareholders.

Yanfeng Enterprise Financing Limited (a licensed corporation engaging in regulated activities under Type 6 of the Securities and Futures Ordinance to provide advice on institutional financing) has been appointed as an independent financial advisor to provide advice to the Independent Directors Committee and independent shareholders on the share offer (particularly on whether the terms of the share offer are fair and reasonable). The appointment of the independent financial advisor has been approved by the Independent Directors Committee.