GRAND TALENTS (08516) announced that the company's board of directors responded to the Securities and Futures Commission's press release dated September 30, 2025. The SFC has applied to the Court of First Instance for an interim asset freezing order. The assets in question are intended for compensation to affected investors in a suspected organized social media "pump and dump" case involving the company's shares.

The SFC has initiated legal proceedings under Section 213 of the Securities and Futures Ordinance against 16 defendants, including suspected masterminds, for allegedly manipulating the company's shares between June 2021 and June 2022. The application forms part of the aforementioned legal proceedings, whereby the SFC seeks to prevent the 16 defendants from disposing of their assets in Hong Kong.

To the knowledge, information and belief of the directors, the company's current board of directors are not defendants in the aforementioned legal action. As of the date of this announcement, to the knowledge, information and belief of the directors, the aforementioned legal action has not adversely affected the business operations of the company and its subsidiaries.