Fire Rock : VOLUNTARY ANNOUNCEMENT UPDATES ON OVERSEAS BUSINESS

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(Stock Code: 1909)

VOLUNTARY ANNOUNCEMENT

UPDATES ON OVERSEAS BUSINESS

This announcement is made by Fire Rock Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') on a voluntary basis to provide updates on the Group's latest business development to the Company's shareholders and potential investors.

To develop and expand the Group's global business, the Group has established a wholly- owned subsidiary in Singapore known as Firerock Capital Pte. Ltd. (''Firerock Capital'') and is expected to allocate approximately RMB100 million from its internal resources to fund future development in Southeast Asia. Through Firerock Capital, which is principally engaged in investment holding, the Group will be engaged in strategic cooperation and the distribution of games in regions such as Singapore, Indonesia and Malaysia in the future, and will also acquire or invest in game or blockchain businesses or other Internet projects that are complementary with the Group's business.

Based on the Group's thorough research and understanding of the overseas markets, in the future, the Group will focus on the market of Singapore, Indonesia and Malaysia as the second overseas regional market targeted for intensive development, following Thailand. The board (the ''Board'') of directors (the ''Directors'') of the Company is of the view that the Group will be able to replicate its success in the Thailand market in the past year in other regions in Southeast Asia, such that the Group's overseas revenue will increase substantially from 13% as a percentage of overall revenue for last year.

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The Board will also leverage the Company's network of and experience in game distribution in America, Southeast Asia and Japan to consider the distribution or operation of new games in different regions. At present, in addition to Thailand, the Group is also preparing for the distribution or operation of new games in Indonesia in Southeast Asia and Brazil and Chile in South America. This is expected to generate revenue in the second half of the year and enhance the Company's reputation in the overseas market.

As at the date of this announcement, Firerock Capital has yet to commence business and record any revenue. The Board expects that the China market will continue to account for more than half of the Group's revenue for the financial year ending 31 December 2021.

The Company will make announcements in relation to the development of the aforesaid business as and when appropriate in accordance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Company's shareholders and prospective investors should exercise caution when dealing in the shares of the Company.

By order of the Board of

Fire Rock Holdings Limited

Su Yi

Executive Director and CEO

Hong Kong, 11 May 2021

As at the date of this announcement, the executive Directors are Mr. Su Yi, Mr. Zhou Kun and Mr. Chen Di; the non-executive Directors are Mr. Zhang Yan, Mr. Huang Yong and Ms. Yang Kan; and the independent non-executive Directors are Mr. Chan King Fai, Mr. Yang Zhen and Ms. Zhuang Renyan.

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