Glory Sun Land Group Limited on 30 June 2026 released its mandated quarterly progress report on the steps being taken to satisfy Hong Kong Stock Exchange resumption requirements after trading in its shares was suspended on 1 April 2025.

Key points are as follows:

1. Resumption roadmap • The company remains in discussions with banks, bondholders and other creditors to address issues that triggered a 2024 audit disclaimer and the ongoing suspension. No binding agreements have yet been struck. • Glory Sun Land continues to negotiate alternative settlement terms for all defaulted bank and other borrowings. As of the announcement date, no lender has executed collateral enforcement actions, although a Shenzhen court order dated 20 August 2025 to seize assets of subsidiary Shenzhen Jitong and related guarantors remains in force. • For the Hunan Meilian other borrowing, a partial settlement of RMB234 million has been arranged through the hand-over of one inventory property unit; repayment of the remaining RMB56 million is still under negotiation. • Regarding the March 2022 bonds, hand-over of pledged Shantou property units is “partially completed.” The group is seeking buyers for its remaining 6.67% stake in Shantou Taisheng to raise funds for the balance of principal and interest payments.

2. Liquidity and operating measures • Pre-sales of mainland China property projects generated approximately RMB166 million during the five months ended 31 May 2026. • No property projects or major assets have been disposed of since release of the 2024 annual report; no disposal timetable has been set. • Management has tightened cost controls to curb non-essential cash outflows. • Commodity-trading operations have been inactive since January 2025 amid market conditions and internal resource constraints.

3. Audit and reporting timetable • Management is compiling financial data to commence the 2025 final audit. The timetable for publishing the 2025 annual results announcement and despatching the 2025 annual report will be disclosed once agreed with the auditor.

4. Trading status • Share trading remains suspended under Listing Rule 13.50A. The company will continue to update shareholders and investors on material developments through further announcements.

Glory Sun Land’s board reiterates that shareholders and potential investors should exercise caution when dealing in the company’s securities.