QUARTERLY UPDATE:UPDATE IN BUSINESS OPERATIONS, RESUMPTION PLAN AND CONTINUED SUSPENSION OF TRADING

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.Shuang Yun Holdings Limited双运控股有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1706) QUARTERLY UPDATE: UPDATE IN BUSINESS OPERATIONS RESUMPTION PLAN AND CONTINUED SUSPENSION OF TRADING This announcement is made by Shuang Yun Holdings Limited (the “Company” together with its subsidiaries the “Group”) pursuant to Rule 13.09 and 13.24a of the Rules (the “Listing Rules”)Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “StockExchange”) and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).Reference is made to the announcements of the Company dated 13 August 2023 23 August 2023 24 August 2023 28 August 2023 20 September 2023 4 January 2024 9 January 2024 and 1 March 2024 in relation to among other things the Allegations and Other Matters. Unless the context requires otherwise capitalized terms used herein shall have the same meanings as those defined in the Announcement.ADDITIONAL RESUMPTION GUIDANCE Further to the resumption guidance provided by the Stock Exchange on 5 March 2024 pursuant to which the Stock Exchange imposes an additional resumption condition for the resumption of trading in shares of the Company. Together with the resumption conditions previously imposed details of all Resumption Conditions are as follows: (a) Publish all outstanding financial results required under the Rules and address any audit modification; (b) demonstrate the Company’s compliance with Rule 13.24; (c) re-comply with Rules 3.05 3.10 3.10A 3.21 3.25 3.27A and 3.28; and (d) Inform the market of all material information for the Company’s shareholders and investors to appraise the Company’s position.The Stock Exchange stated that the Company must meet all Resumption Guidance remedy the issues causing its trading suspension and fully comply with the Listing Rules to the Stock Exchange’s satisfaction before trading in its securities is allowed to resume. For this purpose the Company has the primary responsibility to devise its action plan for resumption. The Stock Exchange also indicated 1that it may modify or supplement the Resumption Guidance if the Company’s situation changes. For the avoidance of doubt the Company must remedy the issues causing its trading suspension and fully comply with the Rules to the Stock Exchange’s satisfaction before trading in its securities is allowed to resume. For this purpose the Company has the primary responsibility to devise its action plan for resumption. To assist the Company the Stock Exchange set out the resumption guidance which the Stock Exchange may modify or supplement if the Company’s situation changes.Under Rule 6.01A(1) of the Listing Rules the Stock Exchange may cancel the listing of any securities that have been suspended from trading for a continuous period of 18 months. In the case of the Company the 18-month period will expire on 22 February 2025. If the Company fails to remedy the issues causing its trading suspension fulfill the Resumption Guidance and fully comply with the Listing Rules to the Stock Exchange’s satisfaction and resume trading in its shares by 22 February 2025 the Listing Division will recommend the Listing Committee to proceed with the cancellation of the Company’s listing. Under Rule 6.01 and Rule 6.10 of the Listing Rules the Stock Exchange also has the right to impose a shorter specific remedial period where appropriate.The Company is taking appropriate steps to comply with the Resumption Guidance and the relevant Listing Rules although the Group is undergoing liquidation process. The Company will publish further announcement(s) to keep its shareholders and potential investors informed of the latest progress as and when appropriate under Rule 13.24 of the Listing Rules.For the purpose of re-complying the Rule 3.05 and 3.28 the Company had appointed two authorized representatives after the previous corporate secretary had resigned. And since the Group is still undergoing liquidation process the Company is unable to appoint new corporate secretary after the former corporate secretary had resigned due to the insolvency of the Group. However the Company is still making effort to source for an appropriate secretary service provider.UPDATE IN BUSINESS OPERATIONS RESUMPTION PLAN Business operation Reference to the announcements on dated 13 August 2023 23 August 2023 24 August 2023 28 August 2023 and 20 September 2023 the subsidiaries of the Group namely Double-Trans Pte Ltd and Samco Civil Engineering Pte Ltd were ordered to be liquidated by Singapore High Court on 8 September 2023 and 21 September 2023 respectively from then on the Group had fully ceased its business operation the business has not been resumed or planning to be resumed due to the compulsory liquidations.Annual Financial Result for FY 2023 Upon the compulsory liquidations of the subsidiaries of the Group all the operation and financial recording have ceased. The Company is unable to announce Annual Result for the Financial Year of 2023 required by Stock Exchange. However the Company will make announcement(s) when the compulsory liquidations are completed.Resumption plan Reference is made to the Company’s announcement dated 13 August 2023 23 August 2023 24August 2023 28 August 2023 20 September 2023 4 January 2024 9 January 2024 and 1 March 2024 regarding the winding up of its subsidiaries as well as the appointment of Liquidators for its subsidiaries. The appointed Liquidators of both the subsidiaries is Deloitte & Touche LLP. To date the Liquidators are continuing their efforts to deal with the affairs of the subsidiaries’ liquidation process including but not 2limited to asset realizations ascertaining liabilities and investigating the cause(s) of the failure of the Company. As of today the Company has no definitive plan in relation to a resumption of trading in its shares and consequently has not commenced the preparation of financial statements or undertaken any of the other steps that would typically be required as part of a resumption proposal due to the insolvency of the Group. Further announcement(s) will be made in respect of any resumption plan as and when appropriate.CONTINUED SUSPENSION OF TRADING Trading in the shares of the Company on the Stock Exchange which has been suspended with effect from 9:00 a.m. on 23 August 2023 remains suspended and will continue to be so until further notice.Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.By Order of the Board Shuang Yun Holdings Limited Tan Chai Ling (alias Chen Zhilong) Chairman and Executive Director Hong Kong 28 May 2024 As at the date of this announcement the board of directors of the Company comprises three executive directors namely Mr. Tan Chai Ling (alias Mr. Chen Zhilong) Ms. Alynda Tan Hue Hong and Ms. Chong Sook Fern (alias Ms. Zhang Shufen). 2