English Translation:

Golden Finance reports that New Huo Technology, a company listed on the Hong Kong Stock Exchange, has issued an announcement. It states that on September 13, 2024, the company received an order (UK Order) from the High Court of England and Wales concerning a claim (UK Proceedings) brought by the claimant against multiple designated and undesignated defendants. The order requires the company (as the fourth defendant) to deliver to the claimant a maximum amount of 43.0717024 Bitcoin (equivalent to $2,590,108.21 and approximately HK$20,202,844.03), or the equivalent of £1,936,146.68 (equivalent to approximately HK$19,915,204.75), and 1,167.093718 Ethereum (equivalent to $2,705,451.62 and approximately HK$21,102,522.63), or the equivalent of £2,526,126.44 (equivalent to approximately HK$25,983,736.56) to a designated wallet address.

The UK Proceedings were initially brought by the claimant against Huobi Global Limited. The case was subsequently amended, replacing Huobi Global Limited with the company as the fourth defendant. As of the date of this announcement, the company has not received the details of the claim in the UK Proceedings and is therefore unaware of the specific details of the claim.

New Huo Technology has appointed UK legal counsel to assess the situation and consider its options. After considering the information and documents provided by the company, the legal counsel believes that the evidence in the UK Proceedings is insufficient and that New Huo Technology has a high chance of successfully overturning the UK Order. New Huo Technology has clarified to the claimant and the Hong Kong court that it has never participated in the operation of the Huobi platform and is not associated with the platform. The Hong Kong court has issued an order to terminate the Hong Kong proceedings against the company.

Based on the information currently available, the UK Proceedings have no material impact on the group's overall business, operations or financial position. The company will publish further announcements in due course on any significant developments in the UK Proceedings.