Bright Future Technology Holdings Limited — Capital/Financing Update 2021

Oct 29, 2021

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Bright Future Technology Holdings Limited 輝煌明天科技控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1351)

VOLUNTARY ANNOUNCEMENT UNAUDITED FINANCIAL DATA FOR THE FIRST THREE QUARTERS OF 2021 AND BUSINESS UPDATE

This announcement is made by Bright Future Technology Holdings Limited (the “ Company ”, together with its subsidiaries, collectively 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).

The board of directors of the Company (the “ Board ”) wishes to provide the shareholders and potential investors of the Company with the update and progress of the Group’s business and certain unaudited financial data for the nine months ended 30 September 2021 (the “ First Three Quarters ”).

Unaudited Financial Data:

The COVID pandemic has continued to plague the global economy during the First Three Quarters, with its impact being felt across all countries and sectors. The Chinese economic outlook in 2021’s third quarter has also been curbed by sweeping regulatory crackdowns on industries ranging from technology to education, which are likely to extend to other key industries. With the market conditions and domestic business environment becoming increasingly volatile, uncertain and complex due to the myriad of unpredictable factors, competition in the intelligent marketing solutions scene also intensified. Yet amidst such challenges, the Group still managed to achieve stable growth and secure long-term relationships with its major customers by leveraging its robust risk control system and the high quality services it has to offer.

According to the unaudited consolidated management accounts of the Group, during the First Three Quarters, the Group recorded approximately 1,074 million virtual tokens consumed in various media publishers, representing an increase of approximately 17.1% as compared to the same period in 2020. The gross profit for intelligent marketing solutions recorded was approximately RMB90 million, representing an increase of approximately 5.6% as compared to the same period in 2020.

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The Group believes that the continued restructuring and upgrading of the industry will weed out numerous less competitive players in the market, thus it is hopeful that such would propel an uplifting of the industry and create scaling up opportunities. Our Group is thus keen to seize the opportunity to fully unleash its edge in intelligent marketing solutions technology, accelerate the rolling out of its SaaS subscription solutions and the construction of its short-video incubation matching platform, so as to solidify its market position.

Business Update - SaaS Subscription Solutions:

The research and development of the Group’s SaaS subscription solutions have progressed smoothly during the First Three Quarters, and have already entered into the test phase, with the official version expected to be launched within this year. The pilot version has been well received by the Group’s potential customers, mainly comprising of small to mid-size internet advertisers, some of which have already reached initial cooperation intention with the Group. The Group expects the launching of the SaaS subscription solutions will broaden its service scope and hence provide the Group with a new revenue stream.

By Order of the Board Bright Future Technology Holdings Limited DONG Hui

Chairman, Chief Executive Officer and Executive Director

Shenzhen, People’s Republic of China, 29 October 2021

As at the date of this announcement, the executive Directors of the Company are Mr. DONG Hui, Mr. YANG Dengfeng, Mr. CEN Senhui and Ms. GAO Yuqing; and the independent non-executive Directors of the Company are Mr. LIU Kin Wai, Mr. WEI Hai Yan and Mr. ZHANG Fanchen.

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