SUNSHINE OIL (02012): Mr. Su Wenjun and Mr. Zhuang Rijie have been appointed as temporary administrators by Lu Bingxian Yongdao.

SUNSHINE OIL (02012) announced that Mr. So Man Chun and Mr. Chong Yip Kit have been appointed as provisional liquidators in accordance with the order of the High Court of the Hong Kong Special Administrative Region on April 29, 2025. They are authorized to exercise the rights of Mr. Sun Guoping (Mr. Sun) as the registered shareholder of the company, including attending meetings and voting rights, and instructing Mr. Sun's nominees to exercise any rights on his behalf. As of the date of this announcement, Mr. Sun holds 171 million shares of the company, accounting for approximately 24.03% of the total issued share capital. Based on the directors' knowledge and information, and after reasonable inquiries to Mr. Sun, the order only applies to certain companies in which Mr. Sun has an interest, and these companies are not members of the group. According to legal advice received by the company, under Canadian law, a foreign receivership order (such as the order appointing provisional liquidators by the Hong Kong court in this case) does not automatically apply in the province of Alberta, Canada (where the company is incorporated). The provisional liquidators must seek recognition from the Alberta Court of Queen's Bench in accordance with the terms of the order. As of the date of this announcement, the company is not aware of any action taken by the provisional liquidators to seek recognition from the Alberta court. Furthermore, Mr. Sun has informed the company that he is seeking legal advice and taking action to protect his personal interests in relation to the order. In view of the scope of the order, and subject to compliance with applicable legal procedures and requirements when exercising the above-mentioned powers, the provisional liquidators may attend the company's future shareholder meetings and vote on all or some of the shares held by Mr. Sun. If there is any dispute regarding Mr. Sun's shares at the relevant shareholder meeting, the company will seek legal advice as necessary to determine whether his voting rights should be counted. The board of directors believes that since the group's members are not parties to the order or related litigation procedures, the order currently has no significant impact on the group's business operations and financial condition.