Shao Baiqing and Ace Lead Profits Limited Won Preliminary Victory Against Hollysys Automation Technologies in the BVI

On March 8, 2021, Justice Gerhard Wallbank of the Commercial Division of the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the “Court”) approved an order (the “Order”)
recording a preliminary victory by Shao Baiqing (“Mr. Shao”) and Ace Lead Profits Limited (“Ace Lead”, together with Mr. Shao, the “Claimants”) in their lawsuit against Hollysys Automation