ChaPanda: Establishment of an Independent Special Committee and Continued Suspension of Trading

ChaPanda announced on the Hong Kong Stock Exchange that the Board has resolved to establish an Independent Special Committee, initially composed of all current independent non-executive directors of the Company. The Independent Special Committee is authorized to exercise all necessary powers, authorities and rights to discharge its duties, including but not limited to appointing suitable independent professional advisers, such as independent forensic investigation firms and independent legal counsel, to assist the Independent Special Committee in conducting an independent investigation. The Independent Special Committee is taking steps to identify and select suitable and qualified independent professional advisers to carry out the independent investigation. Such steps include requesting and reviewing fee quotations and proposals, and assessing the professional expertise and competence of candidate firms. The Company will issue further announcement(s) in due course regarding the progress and results of the independent investigation. Pursuant to the SFC's directive, the Stock Exchange has suspended all trading in the shares with effect from 9:00 a.m. on October 13, 2026, and trading will remain suspended until further notice. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.