Brightstar Technology Group Co., Ltd — Capital/Financing Update 2024

Feb 1, 2024

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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BRIGHTSTAR TECHNOLOGY GROUP CO., LTD 耀 星 科 技 集 團 股 份 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 8446)

TERMINATION OF SUBSCRIPTION AGREEMENTS

Reference is made to the announcement of Brightstar Technology Group Co., Ltd (the ‘‘Company’’) dated 18 December 2023 (the ‘‘Announcement’’) in relation to, among others, the Subscription Agreements and the transactions contemplated thereunder. Unless the context otherwise requires, capitalised terms used herein shall have the same meanings as defined in the Announcement.

The Board announces that, after further negotiation and discussion, the Subscribers were unable to carry out their respective obligations under the Subscription Agreements, taking into account (among other matters) the current market condition, the Company and each of the Subscribers have decided not to proceed with the Subscriptions.

Taking into consideration of the above, on 1 February 2024, the Company entered into a deed of termination with each of the Subscribers, pursuant to which the Company and each of the Subscribers agreed that the relevant Subscription Agreement shall be terminated and shall cease to be of any further force or effect immediately and each of the Company and the relevant Subscriber released and discharged each other from its present and future obligations, liabilities, losses, damages, demands, claims, suits or actions of whatsoever nature arising from or in any way relating to each of the relevant Subscription Agreement.

The Directors consider that the termination of the Subscription Agreements will not have any material adverse impact on the business operation and financial position of the Group.

By order of the Board

Brightstar Technology Group Co., Ltd Cui Hai Bin Chairman and Executive Director

Hong Kong, 1 February 2024

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As at the date of this announcement, the Board comprises three executive Directors, namely, Mr. Cui Hai Bin, Mr. Yeung Ho Ting Dennis and Ms. Zhang Yan Ling; and four independent non-executive Directors, namely, Mr. Ji Gui Bao, Mr. Jiang Peiyan, Ms. Jiang Yu E and Mr. Li Xiao Hua.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, 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 websites of the Stock Exchange at www.hkexnews.hk and of the Company at www.intechproductions.com.

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