On June 29, General Administration of Customs of the People's Republic of China issued the Announcement on the Conditional Resumption of Aquatic Product Imports from Certain Regions of Japan ("Announcement"), declaring the resumption of seafood imports from certain Japanese regions effective immediately. The Announcement states that China will resume seafood imports from all Japanese regions except 10 prefectures including Fukushima, Gunma, Tochigi, Ibaraki, Miyagi, Niigata, Nagano, Saitama, Tokyo, and Chiba. This partial lifting of the Japanese seafood ban presents a significant opportunity for the Group to further expand in the Chinese market and boost sales performance.

In FY2025, Ocean One's China business accounted for 11.6% of the Group's revenue, making it the second-largest revenue source after Hong Kong operations. Before China's ban on Japanese seafood, the China business showed strong growth with revenue increasing 67.3% year-on-year in FY2024.

Chan Kin Fung, Chairman and CEO of Ocean One, said: "As an experienced enterprise in seafood imports in Hong Kong and Macau, Ocean One has always prioritized food safety and quality, ensuring that Japanese seafood imports strictly comply with Chinese customs regulations and meet high quality and safety standards. Looking ahead, Ocean One will continue to strictly control imported seafood quality.”

“With over 22 years of rich experience in premium frozen seafood import and wholesale, we expect to meet regional customer demands through a more diverse seafood product portfolio, actively expand market channels, enhance brand image, and deliver high-quality, safe imported seafood to consumers while creating new growth points. Our industry reputation will help maintain business relationships with existing suppliers and customers, as well as explore potential business opportunities with new suppliers and customers."

Additionally, Ocean One formally applied to the Hong Kong Stock Exchange after market close on July 10 for transfer of listing from GEM to the Main Board, which will not involve issuing any new shares.

Chan Kin Fung added: "We believe the transfer of listing will help enhance the Group's overall image, further strengthen recognition from public investors and customers, and increase financing flexibility. With the elevation of our listing status, we hope to capture more business opportunities, such as those from the mainland market and Greater Bay Area customers. We will continue working with business partners to expand operations, strengthen our position as an outstanding market participant in the frozen seafood import and wholesale industry, and provide more diverse, higher-quality, and safer frozen seafood products and services to broader range of markets and customers, while creating long-term value for shareholders."

About Ocean One Holding Ltd.
Ocean One is a well-established Hong Kong frozen seafood importer and wholesaler with over 22 years of experience in frozen seafood import and wholesale. The company supplies a wide variety of frozen seafood products, covering more than 100 species, and serves over 370 customers (primarily frozen seafood resellers and food service providers). Their popular products include Canada spot prawns, Japanese boiled scallops, Clearwater arctic clams, king crab legs, roasted eels, Hokkaido scallops and sashimi prawns, which are highly favored by consumers. The Group's quality control procedures have obtained HACCP and ISO 9001 certifications, which recognizes their commitment to providing high-quality products to customers.