Future Data Group Limited — Regulatory Filings 2021

Nov 5, 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.

FUTURE DATA GROUP LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8229)

ANNOUNCEMENT PURSUANT TO RULES 17.50(2)(s) AND 17.50B OF THE GEM LISTING RULES

This announcement is made by the board (the “ Board ”) of directors (the “ Directors ”) of Future Data Group Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) pursuant to Rules 17.50(2)(s) and 17.50B of the Rules Governing the Listing of Securities on GEM (the “ GEM Listing Rules ”) of The Stock Exchange of Hong Kong Limited.

The Company announces that it has been brought to the attention that the Hong Kong Institute of Certified Public Accountants (the “ HKICPA ”) has settled regulatory proceedings concerning alleged non-compliance of its professional standards involving Mr. Sum Chun Ho (“ Mr. Sum ”), being an independent non-executive Director.

The HKICPA found that, in conducting an audit engagement, Mr. Sum as the engagement quality control reviewer failed to obtain sufficient audit evidence, and prepare adequate documentation, on a number of material financial statements items pertaining to the subject company’s acquisition of a business. The HKICPA concluded that Mr. Sum failed or neglected to observe, maintain or otherwise apply the Hong Kong Standard on Auditing 220 in relation to the quality control for an audit of financial statements. By a settlement agreement, the Council of the HKICPA has agreed with Mr. Sum that, (i) Mr. Sum acknowledges the facts of the case and areas of non-compliance with professional standards, (ii) Mr. Sum be reprimanded, and (iii) Mr. Sum to pay a financial penalty of HK$60,000 and costs of HK$31,500 (the “ Decision ”). Accordingly, the HKICPA is satisfied that there is no purpose to be served in pursuing disciplinary proceedings. Details of the Decision were disclosed in the press release published by the HKICPA dated 3 November 2021.

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Given that (i) the Decision does not involve the Company or its subsidiaries; (ii) Mr. Sum has no role in the day-to-day operations of the Group; and (iii) no disciplinary proceedings will be pursued by HKICPA, the Board considers that the Decision would not have any material adverse impact on the business operation or financial position of the Company and its subsidiaries, nor impair Mr. Sum’s ability to continue to discharge his duties as an independent non-executive Director, chairman of the audit committee, and a member of the remuneration committee and nomination committee of the Company.

Mr. Sum has confirmed to the Company that, save as disclosed in this announcement, there is no other information relating to him that is required to be disclosed pursuant to the requirements of Rules 17.50(2)(h) to 17.50(2)(v) of the GEM Listing Rules and he is not aware of any other matters that need to be brought to the attention of the shareholders of the Company.

By order of the Board Future Data Group Limited Suh Seung Hyun Chairman

Hong Kong, 5 November 2021

As at the date of this announcement, the executive directors of the Company are Mr. Suh Seung Hyun, Mr. Phung Nhuong Giang, Mr. Lee Seung Han, Mr. Ryoo Seong Ryul and Mr. Tao Guolin, and the independent non-executive directors of the Company are Mr. Wong Sik Kei, Mr. Sum Chun Ho and Mr. Yung Kai Tai.

This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page of the GEM website at www.hkgem.com for at least 7 days from the date of its publication and on the website of the Company at www.futuredatagroup.com.

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