CHUANG'S CHINA (00298) has issued an announcement stating that the company has noted the persistent publication of multiple articles of a defamatory nature on various Chinese social media platforms. These articles contain disparaging remarks regarding the company, Mr. Chuang Shao Sui, Mr. Chuang Ka Pan, and/or the Group. The content of these defamatory articles primarily rehashes various civil lawsuits filed by Ms. Zhou against the company in Chinese courts over many past years. All of these lawsuits have been dismissed by the courts and were found to be without merit.

The Board of Directors strongly condemns the publication of these defamatory articles. Their release is a malicious attempt to cause distress and harassment to Mr. Chuang Shao Sui, Mr. Chuang Ka Pan, and the Group. The Board reiterates that, aside from the Changsha Group, neither the Group nor any of the company's directors have engaged in any investments with the concerned shareholders.

For many years, the Group has consistently complied with all regulatory, financial, and tax laws related to the Changsha Group. Over the past years, all civil lawsuits initiated by Ms. Zhou against the Group and its former directors in Chinese courts have been entirely baseless, lacking any substantive content, and were subsequently either dismissed by the courts or withdrawn by Ms. Zhou herself. In pursuit of her unsubstantiated accusations against the Group, Ms. Zhou even resorted to using documents whose authenticity was later not recognized by the court or which contained facts inconsistent with effective judgments from other court cases.