Silk Road Logistics Holdings Limited announced that it has entered into the Subscription Agreement with the subscriber to issue 146,820,480 common shares at a price of HKD 0.341 per subscription share for the gross proceeds of HKD 50,065,783.68 on October 9, 2023. The transaction has been approved by the shareholders of the company. The Subscriber is directly beneficially wholly-owned by Ms. Choi as at the date of this announcement.

As at the date of this announcement, each of the Subscriber and Ms. Choi directly holds 51,869,770 and 76,380 Existing Shares respectively, representing approximately 8.08% and 0.012% of the issued share capital of the company respectively.