CARRY WEALTH (00643): The subsidiary company's pledge agreement has been terminated and rescinded due to lack of approval.

CARRY WEALTH (00643) announces that on January 14, 2025, the board received notification from the Group's clothing manufacturing and trading division's financial director that on November 27, 2024, the borrower company's wholly-owned subsidiary, Heshan Hengfu garment Co., Ltd., entered into a pledge agreement with the lender, Li Haifeng. According to this, the borrower agrees to pledge the pledged assets as collateral for the loan financing agreement. The pledged assets are the borrower's land use rights and buildings pledged under the pledge agreement. Considering that the pledge agreement was entered into without the knowledge and approval of the board, on January 14, 2025, the board requested the lender and borrower to terminate the pledge agreement and immediately release the pledge. In accordance with Chinese procedural rules, the pledge agreement was terminated and the pledge was released on January 21, 2025.