China Frontier Technology Group — Audit Report / Information 2021

Nov 30, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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WISDOM SPORTS GROUP

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1661)

CHANGE OF AUDITORS

This announcement is made by Wisdom Sports Group (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to Rule 13.51(4) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

RESIGNATION OF AUDITOR

The board (the “ Board ”) of directors (the “ Directors ”) of the Company hereby announces that RSM Hong Kong has resigned as the auditor of the Company with effect from 30 November 2021 as the Company and RSM Hong Kong could not reach a consensus on the audit fee for the year ending 31 December 2021.

RSM Hong Kong has confirmed in its letter of resignation dated 30 November 2021 that there are no matters in relation to its resignation that need to be brought to the attention of the shareholders (the “ Shareholders ”) of the Company. The Board and the audit committee of the Company (the “ Audit Committee ”) confirmed that, save for RSM Hong Kong and the Company not being able to reach a consensus on the audit fee for the year ending 31 December 2021, there are no other disagreements or unresolved matters between the Company and RSM Hong Kong in respect of the change of the auditor which should be brought to the attention of the Shareholders. The Board would like to take this opportunity to express its sincere gratitude to RSM Hong Kong for its professional services provided to the Group in the past years.

The Board believes that the change of auditor will not have any impact on the annual audit of the Company for the financial year ending 31 December 2021.

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APPOINTMENT OF AUDITOR

The Board, with the recommendation from the Audit Committee, has resolved to appoint Elite Partners CPA Limited as the auditor of the Company with effect from 30 November 2021, to fill the vacancy following the resignation of RSM Hong Kong and to hold office until the conclusion of the next annual general meeting of the Company.

The Board has confirmed that it is not aware of any matters in relation to the change of auditor that need to be brought to the attention of the Shareholders.

By Order of the Board Wisdom Sports Group Ren Wen

Chairlady and Executive Director

Hong Kong, 30 November 2021

As at the date of this announcement, the executive Directors of the Company are Ms. Ren Wen, Mr. Sheng Jie, Mr. Song Hongfei and Ms. Hao Bin; and the independent non-executive Directors of the Company are Mr. Chen Zhijian, Mr. Ip Kwok On Sammy and Mr. Jin Guoqing.

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