China Frontier Technology Group — Capital/Financing Update 2020

Apr 20, 2020

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)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO DISCLOSEABLE TRANSACTION SUBSCRIPTION OF INVESTMENT FUND

Reference is made to the announcement (the “ Announcement ”) of Wisdom Sports Group (the “ Company ”) dated 2 April 2020 in relation to the Subscription of Investment Fund managed by Qianhai Century Fund Management Co., Ltd. Unless otherwise stated, capitalized terms and expressions used herein shall have the same meanings as those defined in the Announcement.

This announcement is made to provide shareholders of the Company the latest update in relation to the Subscription.

As disclosed in the Announcement, the Company subscribed for a certain portion of an investment fund with RMB32 million (the “ Investment Fund ”) on 2 April 2020 and the maturity date of the investment will be on 18 May 2020.

The board of directors of the Company (the “ Board ”) has approved the withdrawal of the Investment Fund before the maturity date on 20 April 2020 (the “ Withdrawal ”). The Board confirms that the Company will not suffer any loss of interests income calculated in accordance with the benchmark interest rate during the Subscription holding period from 3 April 2020 to date of the Withdrawal. The total amount of the Withdrawal, including the interests income amounted to RMB32,095,386.30. The reasons for the Withdrawal are set out below.

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REASONS FOR THE WITHDRAWAL

The Board is of the view that the Withdrawal is in line with the corporate structural adjustments based on the current global situation. The Withdrawal is made purely based on commercial considerations and further business integration and development of the Group. The Board also believes that the Withdrawal is in the best interest of the Company and its shareholders as a whole and it will not cause any negative impact to the Group.

By Order of the Board Wisdom Sports Group Ren Wen

Chairlady and Executive Director

Hong Kong, 20 April 2020

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 Guoqiang.

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