The Company’s announcements dated 5 November 2024 and 8 November 2024 in relation to the suspension of Goods Vehicle Operator License for XHTT, a wholly-owned subsidiary of the Company refer.

(Unless otherwise stated, the abbreviations and definitions used throughout this announcement shall be the same as those previously defined in the previous announcements)

The Board wishes to announce that following the appeal submitted to APAD on 6 November 2024, XHTT has on 29 November 2024 received a notice from APAD informing that APAD has agreed to end the Suspension earlier on 12 January 2025, instead of 10 February 2025. Upon the end of the Suspension Period, XHTT can continue its operations as usual using the vehicles licensed under its Goods Vehicle Operator License.

Since the start of the Suspension on 13 November 2024, relevant rectification actions had been put in place to ensure continuity of XHTT’s daily operations and minimise losses to the utmost. Vehicles registered under other subsidiaries had been arranged to fulfil the urgent deliveries of XHTT and some of the services were outsourced to competent third party(ies) transporters.

The Board looks forward to carrying on our operations with renewed dedication and focus on our business missions.

This announcement is dated 2 December 2024.