Beijing Yunji Technology Co., Ltd. — M&A Activity 2002

Apr 29, 2002

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Harmony Link Corporation

(Incorporated in the British Virgin Islands with limited liability)

Cheong Ming Investments Limited

(Incorporated in Bermuda with limited liability)

Unconditional Mandatory Cash Offers by Somerley Limited on behalf of Harmony Link Corporation

to acquire all the issued shares and to cancel all outstanding options of Cheong Ming Investments Limited

(other than those already owned by Harmony Link Corporation

and parties acting in concert with it)

• Valid acceptances in respect of 169,000 Shares under the Share Offer have been received by the Offeror before the Offers closed at 4:00 p.m. on 29th April, 2002. No acceptance in respect of Option Offer has been received.

• Taking into account the valid acceptances in respect of 169,000 Shares under the Share Offer and subject to completion of the transfer of the Shares to the Offeror, the Offeror and parties acting in concert with it will be interested in 231,056,500 Shares, representing approximately 55.29 per cent. of the issued share capital of the Company as at the date of this announcement.

Reference is made to the composite document dated 8th April, 2002 regarding the Offers (the “Composite Document”). Unless otherwise defined, terms used in this announcement shall have the same meanings as defined in the Composite Document.

CLOSING OF THE OFFERS AND ACCEPTANCE LEVELS

The Offeror and the Directors jointly announce that at 4:00 p.m. on 29th April, 2002, being the time at which the Offers closed, valid acceptances in respect of 169,000 Shares under the Share Offer have been received by the Offeror. No acceptance in respect of the Option Offer has been received.

During the period while the Offers remained open, none of the Offeror nor any of its concert parties had any dealings in the securities of the Company. Taking into account the valid acceptances in respect of 169,000 Shares under the Share Offer and subject to completion of the transfer of Shares to the Offeror, the Offeror and parties acting in concert with it will be interested in 231,056,500 Shares, representing approximately 55.29 per cent. of the issued share capital of the Company as at the date of this announcement.

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Upon the closing of the Offers, there was approximately 44.71 per cent. of the issued share capital of the Company held in public hands. Accordingly, the Company fulfils the requirement on public float of the Shares under the Listing Rules.

By Order of the Board of By Order of the Board of Harmony Link Corporation Cheong Ming Investments Limited Lui Shing Cheong Lui Shing Ming Brian Director Director

Hong Kong, 29th April, 2002

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than those relating to the Offeror) and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement (other than those relating to the Offeror), the omission of which would make any statement in this announcement misleading.

The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than those relating to the Company) and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement (other than those relating to the Company), the omission of which would make any statement in this announcement misleading.

Please also refer to the published version of this announcement in the Hong Kong iMail.

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