On 30 March 2023, Great Wall Belt & Road (a direct wholly-owned subsidiary of the Company) entered into the Lease Agreement with the Landlord in relation to the leasing of the Premises for a term of four years commencing from 1 April 2023 to 31 March 2027 (both days inclusive). The Premises will be used as office of the Group in Hong Kong. Pursuant to HKFRS 16, as a result of the entering into the Lease Agreement, the Group will recognise right-of-use asset in its consolidated financial statements in connection with the Lease.

As such, the Lease will be regarded as acquisition of assets by the Group under the definition of transaction set out in Rule 14.04(1)(a) of the Listing Rules. As one or more of the applicable percentage ratios (as defined in the Listing Rules) calculated based on the value of the right-of-use asset to be recognised by the Company in connection with the Lease Agreement according to HKFRS 16 are more than 5% but all are less than 25%, the transaction contemplated under the Lease Agreement constitutes a discloseable transaction of the Company and is subject to the notification and announcement requirements, but is exempt from shareholders' approval requirement under Chapter 14 of the Listing Rules. On 30 March 2023, GreatWall Belt & Road (a direct subsidiary of the Company) entered in the Lease Agreement with theLandlord in relation to the leasing the Premises for a termof four years commencing from 1April 2023 to 31 March 20 27 (both days inclusive).

Thepremises will be used as office the Group in Hong Kong. The principal terms of the Lease Agreement are set out below: Date: 30 March 2023., Parties: (i) Great Wall Belt & Road (as tenant); and, (ii) Silver Nicety Company Limited (as the Landlord)., The Premises: Room 1903, 19th Floor, Lee Garden Three, 1 Sunning Road, Causeway Bay, Hong Kong with a total floor area of approximately 3,027 square feet., Term: Four years commencing from 1 April2023 to 31 March 2027. Upon signing of the Lease Agreement, Great Wall Belt & Road shall pay to the Landlord a refundable rental deposit in the amount of HKD 682,170.