Securities code: 688020 Securities abbreviation: Fangbang shares Announcement number: 2024-066

Guangzhou Fangbang Electronics Co., Ltd

Announcement on the progress of the establishment of a wholly-owned subsidiary in Hong Kong through foreign investment

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

1. Basic situation of foreign investment

Guangzhou Fangbang Electronics Co., Ltd. (hereinafter referred to as the "Company") was held on September 18, 2024

The 28th meeting of the third board of directors was held, and the meeting deliberated and passed the "Proposal on the Establishment of a Wholly-owned Subsidiaries". Based on the company's strategy and development layout, in order to better enhance the company's ability to expand overseas markets, the board of directors approved the company to set up a wholly-owned subsidiary in Hong Kong with its own funds of HK$2 million. For details, please refer to the public

On September 19, 2024, the Company disclosed on the website of the Shanghai Stock Exchange (www.sse.com.cn) the "About

Announcement on the Establishment of a Wholly-Owned Subsidiary (Announcement No. 2024-060).

Second, the progress of foreign investment

Recently, the company has completed the registration procedures and obtained the "Certificate of Incorporation" and "Business Registration Certificate" issued by the Companies Registry of the Hong Kong Special Administrative Region, the basic information is as follows:

1. Chinese name: Fangbang Technology Group (Hong Kong) Co., Ltd

2. English name: Fangbang Technology Group (Hong Kong) Limited

3. Registered capital: 2 million Hong Kong dollars

4. Registered office address: Room 02, 9th Floor, Bohui Building, 54-62 Lockhart Road, Wan Chai, Hong Kong

5. Certificate of Registration No.: 77417755

6. Business registration certificate number: 77417755-000-12-24-3

3. Risk Warning

In view of the fact that the laws, policy systems and business environment in Hong Kong are quite different from those in Chinese mainland, there may be risks caused by uncertainties in policy, market, operation and management in the course of operation after the establishment of a wholly-owned subsidiary in Hong Kong. The company will strictly abide by the local laws and government policies in Hong Kong, carry out the business activities of its subsidiaries in accordance with laws and regulations, and actively adopt appropriate strategies and management measures to strengthen risk management and control, and strive to bring investors to the market

to a good return on investment. The company will strictly comply with the requirements of relevant laws, regulations and normative documents, timely fulfill the obligation of information disclosure, please pay attention to the investment risks.

The announcement is hereby made.

Guangzhou Fangbang Electronics Co., Ltd

board of directors

December 13, 2024