Futong Technology Development Holdings Limited — Capital/Financing Update 2012

Dec 28, 2012

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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Futong Technology Development Holdings Limited 富通科技發展控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock code: 465)

ANNOUNCEMENT

TERMINATION OF SUBSCRIPTION AGREEMENTS

References are made to the announcements of Futong Technology Development Holdings Limited (the “ Company ”) dated 9 December 2011, 12 December 2011, 13 April 2012 and 31 July 2012 (the “ Announcements ”) in relation to the deemed disposal of interest in the Joint Venture Company and the entering into of the Deed of Cross Indemnity. Unless otherwise defined, capitalized terms used in this announcement shall have the same meanings as those defined in the Announcements.

Pursuant to the Subscription Agreements as amended by the supplemental agreements dated 13 April 2012 and 31 July 2012, Closing is subject to the satisfaction (or waiver, where applicable) of the conditions precedent set forth therein on or before the Tentative Closing Date (i.e. 31 December 2012). The Company has been informed by GW that it now becomes clear that they will not be able to fulfill the condition precedents under the GW Subscription Agreement on or before 31 December 2012, in particular, the obtaining of approval from the State Administration of Foreign Exchange for the transaction.

After careful consideration, the parties to the Subscription Agreements entered into a termination agreement on 28 December 2012, pursuant to which (i) the Subscription Agreements and the supplemental agreements thereto are terminated; (ii) GW shall pay the sum of RMB4,732,129.96 (equivalent to approximately HK$5,826,526.42) to the PRC Subsidiary in settlement of the expenses incurred by the PRC Subsidiary in the refurbishment and early stage operation and development; and (iii) the PRC Subsidiary shall change its company name and cease to use “Greatwall” in its company name.

For and on behalf of the Board

Futong Technology Development Holdings Limited Chen Jian Chairman

Hong Kong, 28 December 2012

As at the date of this announcement, the executive Directors are Mr. Chen Jian, Ms. Zhang Yun and Mr. Guan Tao; and the independent non-executive Directors are Mr. Lee Kwan Hung, Mr. Yuan Bo and Mr. Ho Pak Tai Patrick.