AInnovation Technology Group Co., Ltd — M&A Activity 2025

Aug 14, 2025

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.

创新奇智
Alinnovation

AINNOVATION TECHNOLOGY GROUP CO., LTD*

創新奇智科技集團股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 2121)

VOLUNTARY ANNOUNCEMENT

FORMATION OF A JOINT VENTURE

This is a voluntary announcement by AInnovation Technology Group Co., Ltd* (the “Company” or “AInnovation”) to provide the shareholders of the Company (the “Shareholders”) and potential investors with the information on the latest developments of the Company.

The board of directors of the Company (the “Board”) is pleased to announce that on 14 August 2025, a wholly owned subsidiary of the Company jointly formed a joint venture named as HUNLICAR CHAINNOVATION LIMITED (the “Joint Venture”) with a wholly owned subsidiary of Hunlicar Group Limited (“Hunlicar”). Hunlicar and the Company hold 80% and 20% equity interests of the Joint Venture, respectively. The Joint Venture is principally engaged in financial services, artificial intelligence (AI) and blockchain applications and other sectors, including but not limited to:

1. fully leverage Hunlicar’s abundant industrial experience and service network in financial service sector and AInnovation’s AI scheme implementation capabilities, to achieve smart blockchain applications and formulate comprehensive soluations tailored for the financial industry, as well as provide “Technique + Business + Application Development” trinity services, thus assisting transition of traditional financial institutions toward the third generation of Internet (Web 3.0); and

2. promote the implementation of the real world assets based on blockchain technology and the Web 3.0 applications such as stablecoin system for enterprise payment, as well as supporting solution services, and help financial enterprises and numerous physical economy enterprises realise tokenization of financial and physical assets on blockchain to achieve regulatory compliance, enhanced liquidity and global capital introduction.

3. 1 -

---

Reasons for and Benefits of Formation of the Joint Venture

The Board believes that there is a high consensus about the direction and approach of technology-driven industrial transformation between the Company and Hunlicar. Each of them possesses profound expertise across multiple domains, including technological products, solutions, consulting services and market channels, in the field of enterprise digitalisation and intelligence. In accordance with the principle of “equality and mutual benefit, complementary advantages, win-win cooperation and common development”, the cooperation between the Company and Hunlicar will not only inject strong momentum into AInnovation’s pursuit of new growth drivers, but also significantly enhance its competitiveness in “AI + Financial Services”.

Information on Hunlicar

Hunlicar (a company listed on The Stock Exchange of Hong Kong Limited, stock code: 3638) and its subsidiaries are principally engaged in financial services, trading of computer and electronic products, and food trading businesses. Through its wholly-owned subsidiary, Harbour Family Office, Hunlicar provides comprehensive and one-stop professional family office services, specialising in serving high-net-worth families. These services encompass global asset allocation, family succession planning, trust structure establishment, family governance, tax consultation, and exclusive lifestyle management, offering clients with professional, reliable, and forward-looking advice and services.

Formation of the Joint Venture does not constitute a notifiable transaction of the Company under Chapter 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), nor does it constitute a connected transaction under Chapter 14A of the Listing Rules. The Company will make further announcements in accordance with the Listing Rules as necessary or appropriate. Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

AINNOVATION TECHNOLOGY GROUP CO., LTD
創新奇智科技集團股份有限公司
Xu Hui
Executive Director and Chief Executive Officer

Hong Kong, 14 August 2025

As at the date of this announcement, the Board of the Company comprises Mr. Xu Hui as executive director, Dr. Kai-Fu Lee, Mr. Wang Hua and Mr. Wang Jinqiao as non-executive directors, Mr. Xie Deren, Ms. Ko Wing Yan Samantha and Ms. Jin Keyu as independent non-executive directors.

• For identification purpose only