Wan Leader International Limited announced that after preliminary research, analysis and other preparatory works, the Group intends to commence freight forwarding and courier logistics services in the United Kingdom The Group is primarily engaged in (i) the provision of freight forwarding and related logistics services of airlines, shipping liners and other freight forwarders in Hong Kong and (ii) provision of entrusted management services for operating an online e-commerce platform. Having considered (i) the demand for freight forwarding and courier logistics services between Hong Kong and the United Kingdom will continue to grow; (ii) the trend for such services will likely continue in the foreseeable future; (iii) the existing logistics networks and contact of the Group can help to establish the New Expansion; and (iv) such New Expansion is in compliment to other existing businesses of the Group, the Board believes it is the time for the Group to expand its footprint beyond Hong Kong and to seize the opportunity of any potential business in the United Kingdom. The Board is currently in the final stage of formulating the business plan for the New
Expansion. No definite agreement has been entered into between the Group and any parties as of the date of this announcement. Consequently, the New Expansion may or may not proceed due to various commercial, technical or local regulatory issues. In this regard, the Board is not yet in a position to assess the financial impact of the New Expansion and related business initiatives on the Group in the short or long term.