Web3 Meta Limited — Earnings Release 2023

Nov 10, 2022

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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MILLION STARS HOLDINGS LIMITED 萬星控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8093)

PROFIT WARNING

This announcement is made by Million Stars Holdings Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) pursuant to Rule 17.10 of the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the ‘‘GEM Listing Rules’’) and the Inside Information Provisions (as defined under the GEM Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of the Company wishes to inform the shareholders of the Company (the ‘‘Shareholders’’) and potential investors that based on the preliminary review of the unaudited financial results of the Group for the three months period ended 30 September 2022 (the ‘‘First Quarterly Results’’), the Group is expected to record a loss of approximately HK$6.9 million (the ‘‘Expected Loss’’), compared with a profit of approximately HK$5 million recorded for the three months period 30 September 2021. Based on the information available, the Expected Loss was mainly attributable to:

1. Affected by the recurrent COVID-19 pandemic in mainland China and changes in digital asset policies, the Group’s revenue from overseas internet advertising decreased significantly and no revenue was recorded from the digital assets business.

2. The Group’s online and offline advertising channels in mainland China and the project of multi-functional advertising equipment are still under construction and in the stage of investment, and have not generated income.

The Company is still in the process of finalising the First Quarterly Results. The information contained in this announcement is only based on the Board’s preliminary assessment of the unaudited consolidated management accounts of the Group and the information currently available which has not been audited by the auditors of the Company or reviewed by the audit committee of the Board. Shareholders and potential investors are advised to read carefully the First Quarterly Results announcement which is expected to be published on 11 November 2022.

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Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board Million Stars Holdings Limited Zhu Yongjun Chairman

Hong Kong, 10 November 2022

As at the date hereof, the Board comprises Mr. Zhu Yongjun, Mr. Gan Xiaohua and Ms. Tian Yuan as executive Directors; and Mr. Chen Ce, Ms. Jiang Ying and Ms. Zhu Minli as independent non-executive Directors.

This announcement, for which the Directors 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 Stock Exchange website at http://www.hkex.com.hk on the ‘‘Latest Listed Company Announcements’’ page for at least 7 days from the day of its publication and on the website of the Company at http://www.millionstars.hk.

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