Fire Rock : INSIDE INFORMATION STRATEGIC COOPERATION WITH SU ZE LAN TE (SHANGHAI) CYBER TECHNOLOGY COMPANY LIMITED

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.

(Stock Code: 1909)

INSIDE INFORMATION STRATEGIC COOPERATION WITH

SU ZE LAN TE (SHANGHAI) CYBER TECHNOLOGY COMPANY LIMITED* (蘇澤蘭特（上海）網路科技有限公司)

This announcement is made by Fire Rock Holdings Limited (the ''Company'', and together with its subsidiaries, the ''Group'') pursuant to Rule 13.09 (2) (a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') 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).

ESTABLISHMENT OF BLOCKCHAIN GAME APPLICATION TEAM

The board of directors (''Directors'') of the Company (the ''Board'') is pleased to announce that the Group has established a blockchain applications team (the ''R&D Team'') dedicated to the research and development of blockchain (''blockchain'') technologies for application in games, and has recruited certain personnel specialised in blockchain technologies to be involved in the promotion and expansion of research in blockchain game applications for the Group's games.

The new team is headed by Mr. Huang Yong, co-founder and chief technology officer of the Group. The team is primarily engaged in the use of blockchain technology to provide blockchain application technologies/services for existing and potential game operators. Blockchain has an extensive scope of application in games. It can develop smart contracts and record the transfer of any digital assets, enabling the sale of more products based on intellectual property rights by the development team. It can also develop and support thefunction of digital asset transfer across different games, such that the digital assets owned by games players can be applied in different games to enhance the appeal of the games. Game players can also sell their game assets or properties in the secondary market to earn a profit by using the function of digital asset transfer afforded by blockchain technology.

ESTABLISHMENT OF BLOCKCHAIN GAME SUBSIDIARY

At the same time, the Company has also invited Hu Xuanfeng (胡烜峰) (''Mr. Hu''), the inventor of ''Treasure Land'' 《( 暗黑鏈遊神》), a popular online blockchain game, and Mr. Ye Bin (''Mr. Ye''), a member of Mr. Hu's game development team, to form Su Ze Lan Te (Shanghai) Cyber Technology Company Limited* (蘇澤蘭特（ 上海）網路科技有限公司) (''Su Ze Lan Te (Shanghai)'') with the Company.

The registered capital of Su Ze Lan Te (Shanghai) is RMB10,000,000. Su Ze Lan Te (Shanghai) is owned as to 51.00%, 41.65% and 7.35% by the Company, Mr. Hu and Mr. Ye, respectively. The Board will provide funding by allocating the Company's internal resources as contribution to the registered capital. Su Ze Lan Te (Shanghai) is a non wholly-owned subsidiary of the Company, and its financial results will be consolidated into the financial results of the Group.

REASONS FOR AND BENEFITS OF ESTABLISHING SU ZE LAN TE (SHANGHAI)

The establishment of Su Ze Lan Te (Shanghai) will enable the Company to leverage the resources and expertise of Mr. Hu and Mr. Ye in blockchain game development and distribution to enrich the Company's game variety and user coverage, thereby enhancing its reputation in the overseas markets and facilitating the promotion of the Company's games to further strengthen its market coverage.

BACKGROUND INFORMATION ON SHAREHOLDERS OF SU ZE LAN TE (SHANGHAI)

The Company is a major game developer and operator based in Shenzhen, China specialised in the development of browser games and mobile games for global players.

Mr. Hu, aged 42, has over 15 years' experience in China's game development industry. He is the co-founder of GameFarmer, a blockchain game platform, and has been involved in the development of ''Treasure Land'', a famous large-scale multi-player online role-play game based on blockchain technology which has won numerous industry awards. He has also invented the NFT (Non-Fungible Token) digital collectible created through blockchain technology as part of the game equipment package, which allows the buyer and the seller to complete a transaction through a smart contract by employing the decentralised trading technology. Game players also sell their game assets or properties in the secondary market to grow their wealth using blockchain technology.

Mr. Ye, aged 39, has about 16 years' experience in China's game development industry. Mr. Ye has participated in the development of the platform for the casting of the NFT (Non-Fungible Token) digital collectible using blockchain technology, which enables any users to create their own NFT assets and allows them to place such digital assets into their e-wallets for free trading. Mr. Ye is very familiar with smart contracts and is principally responsible for the connection between the decentralised asset platform and the digital wallets in the development of a common interface and standardised tools for digital assets in blockchain games, thereby facilitating the free trading of digital assets in the secondary market.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, Mr. Hu and Mr. Ye are third parties independent from the Company and its connected persons.

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

By Order of the Board

Fire Rock Holdings Limited

Su Yi

Executive Director and CEO

Hong Kong, 9 March 2021

As at the date of this announcement, the executive Directors are Mr. Su Yi and Mr. Zhou Kun; 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. Chen Di and Mr. Yang Zhen.

*

For identification purpose only