Brightstar Technology Group Co., Ltd — Capital/Financing Update 2022

Jul 22, 2022

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.

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IN TECHNICAL PRODUCTIONS HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8446)

VOLUNTARY ANNOUNCEMENT FULLY EXEMPT CONNECTED TRANSACTION — LOAN FROM SHAREHOLDER

This is a voluntary announcement made by In Technical Productions Holdings Limited (the ‘‘Company’’, and together with its subsidiaries, the ‘‘Group’’).

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of the Company is pleased to announce that ST Ma Ltd (‘‘ST Ma’’), the controlling shareholder of the Company, has entered into a loan agreement (the ‘‘Loan Agreement’’) with the Company on 22 July 2022 (after trading hours) for a shareholder’s loan of HK$40,000,000 (the ‘‘Shareholder’s Loan’’) to the Company.

Pursuant to the Loan Agreement, the Shareholder’s Loan are unsecured, interest free and repayable on demand. The use of proceeds of the Shareholder’s Loan is for (i) repayment part of bank loans; (ii) business development; and (iii) general working capital of the Group.

The Directors believe that this non-interesting bearing Shareholder’s Loan will further provide the Company with more financial flexibility and additional capital without finance cost to capture the business opportunities and is therefore beneficial to the Group. As such, The Directors are of the view that the Shareholder’s Loan is on normal commercial terms or better, and the terms are fair and reasonable and in the interests of the Company and its shareholders as a whole.

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As at the date of this announcement, ST Ma is directly interested in approximately 55% of the issued share capital of the Company. Therefore, ST Ma is a connected person of the Company. Pursuant to Rule 20.88 of the Rules Governing the Listing of Securities on GEM (the ‘‘GEM Listing Rules’’), since the Shareholder’s Loan is considered as financial assistance received by the Group from a connected person which (a) is conducted on normal commercial terms or better; and (b) is not secured by the assets of the Group, the transaction contemplated under the Shareholder’s Loan is fully exempted from all reporting and disclosure requirements under Chapter 20 of the GEM Listing Rules.

By order of the Board In Technical Productions Holdings Limited MA Lie

Chairman and Executive Director

Hong Kong, 22 July 2022

As at the date of this announcement, the executive directors of the Company are Mr. Ma Lie, Mr. Yeung Ho Ting Dennis and Mr. Tam Chun Yu; and the independent non-executive directors are Mr. Chen Yue, Mr. Cui Hai Bin, Mr. Ji Gui Bao and Ms. Jiang Yu E.

This announcement, for which the Directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited for the purpose of giving information with regard to the Company. The Directors of the Company, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the website of Stock Exchange (www.hkexnews.hk) on the ‘‘Latest Listed Company Information’’ page for at least 7 days from the date of its posting and will be published on the Company’s website at www.intechproductions.com.

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