The board of directors of TOPSPORTS (06110) has noted unusual fluctuations in the company's share price and trading volume recently.

Furthermore, the board is aware of online speculation suggesting that Nike (NKE) intends to terminate all its primary online distribution authorizations in mainland China effective January 1, 2027.

The board wishes to inform shareholders and potential investors that, as of the date of this announcement, the company has not received any formal notification from Nike regarding the termination of the online distribution arrangement between Nike and the group in mainland China.

Nike and the group have been in ongoing discussions covering various aspects of their business collaboration, including the status of their online sales arrangements.

For the fiscal year ending February 28, 2026, revenue from online sales of Nike products contributed approximately 22% of the group's total revenue.

Should a legally binding agreement be signed or should there be any material developments on the matter, the board will issue further announcements as necessary in compliance with listing rules and applicable laws.

Trading in the company's shares was suspended on the Stock Exchange of Hong Kong at 9:00 a.m. on June 25, 2026, at the company's request, pending the release of this announcement.

The company has applied to the Stock Exchange for the resumption of trading in its shares from 9:00 a.m. on June 26, 2026.