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