GENESIS SCALE (00439): Shanghai Everbright Wealth Shenzun Jing Hui may continue to proceed with unilateral forced sale, and has the right to sell the remaining pledged shares for additional credit enhancement.

GENESIS SCALE (00439) has announced that its major shareholder New Horizon Wireless Technology Limited (New Horizon) is facing a unilateral forced sale of its shares. The Board of Directors (the Board) of the company recently learned from New Horizon that legal action may be taken regarding the forced sale, based on a recent ruling by the relevant court. Shanghai Ever Upward Wealth Management Co., Ltd. may continue with the unilateral forced sale and has the right to sell the remaining pledged additional credit shares. The current remaining amount of pledged additional credit shares is 60,786,200 shares, representing approximately 9.87% of the company's issued shares (excluding treasury shares). If Shanghai Ever Upward Wealth Management Co., Ltd. continues with the unilateral forced sale, the aforementioned pledged additional credit shares are also the maximum quantity that Shanghai Ever Upward Wealth Management Co., Ltd. can sell.