World Digital Economy Asset Group Limited (“World Digital Economy Asset Group”) announced an update on its independent non-executive director (INED) Mr. Lam Cheung Shing Richard, following a winding-up order against China Water Industry Group Limited (“China Water”), where Mr. Lam also serves as an INED.

On 15 June 2026, the High Court of Hong Kong ordered China Water (Stock Code: 1129) to be wound up under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32). The ruling stemmed from a petition filed on 17 November 2025 concerning an outstanding loan of RMB 216.60 million, plus accrued interest, extended to an indirect non wholly-owned subsidiary of China Water and guaranteed by China Water. The Official Receiver was appointed provisional liquidator on the same day.

China Water, incorporated in the Cayman Islands and listed on the Main Board of the Stock Exchange of Hong Kong, engages in sewage treatment, renewable energy, property investment and development, and waste management. Mr. Lam has served as an INED of China Water since 5 August 2019 and confirmed that no claims have been or are expected to be made against him personally in relation to the proceedings.

World Digital Economy Asset Group emphasised that:

• The winding-up order involves China Water only and does not relate to the Group’s businesses or operations. • The Board believes the development has no impact on the Group’s current operations or financial position. • Mr. Lam remains suitable to fulfil his duties as an INED of World Digital Economy Asset Group.

The disclosure was made in accordance with Listing Rules 13.51(2)(l) and 13.51B(2). No further information regarding the winding-up order is available beyond the details provided by Mr. Lam. World Digital Economy Asset Group confirmed that, aside from the matters outlined, Mr. Lam has no additional information requiring disclosure under Listing Rules 13.51(2)(h) to 13.51(2)(v).