CHIHO ENV (00976): Termination of Legal Proceedings

CHIHO ENV (00976) announces that the board of directors wishes to inform the company's shareholders and potential investors that following the sale of the Scholz Group by the receiver on July 31, 2026, the company has engaged in discussions with the receiver to resolve the related disputes. On August 19, 2026, the company (as the plaintiff) submitted a notice of discontinuance of the proceedings to the High Court of the Hong Kong Special Administrative Region and has served the relevant notice to all defendants who had appeared in those proceedings. The board of directors believes that terminating these proceedings is in the overall interest of the company and its shareholders. The company will continue to consult its advisors regarding the actions to be taken in relation to the transaction and will further inquire with the receiver about details of the transaction. The company will make further announcements in a timely manner in accordance with the Listing Rules.