Flowing Cloud Technology Ltd — Capital/Financing Update 2022

Nov 7, 2022

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) and Hong Kong Securities Clearing Company Limited (“ HKSCC ”) 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.

Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the prospectus dated September 29, 2022 (the “ Prospectus ”) issued by Flowing Cloud Technology Ltd (the “ Company ”).

This announcement is made pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). This announcement is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or subscribe for securities.

This announcement is not a prospectus. Potential investors should read the Prospectus for detailed information about the Company and the Global Offering described below before deciding whether or not to invest in the Offer Shares.

This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or in any other jurisdiction. The Offer Shares have not been, and will not be, registered under the United States Securities Act of 1933, as amended from time to time (the “ U.S. Securities Act ”) or securities law of any state or other jurisdiction of the United States and may not be offered, sold, pledged or transferred within the United States, except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act. There will be no public offer of the Offer Shares in the United States. The Offer Shares are being offered and sold solely outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.

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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6610)

STABILIZING ACTIONS, END OF STABILIZATION PERIOD AND LAPSE OF THE OVER-ALLOTMENT OPTION

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

Pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), the Company announces that the stabilization period in connection with the Global Offering ended on Sunday, November 6, 2022, being the 30th day after the last day for lodging of applications under the Hong Kong Public Offering. Further information of stabilizing actions undertaken by Shenwan Hongyuan Securities (H.K.) Limited, the Stabilizing Manager or any person acting for it, during the stabilization period is set out in this announcement.

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LAPSE OF THE OVER-ALLOTMENT OPTION

The Company further announces that the Relevant Global Coordinators did not exercise the Over-allotment Option during the stabilization period, and the Over-allotment Option lapsed on Sunday, November 6, 2022.

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

Pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), the Company announces that the stabilization period in connection with the Global Offering ended on Sunday, November 6, 2022, being the 30th day after the last day for lodging of applications under the Hong Kong Public Offering. The stabilizing actions undertaken by Shenwan Hongyuan Securities (H.K.) Limited, as the Stabilizing Manager, its affiliates or any person acting for it, during the stabilization period were:

• (1) over-allocations of an aggregate of 17,748,000 Offer Shares in the International Offering, representing approximately 6.54% of the total number of the Offer Shares initially available under the Global Offering before any exercise of the Over-allotment Option; and

• (2) successive purchases of an aggregate of 17,748,000 Shares in the price range of HK$2.00 to HK$2.21 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and Accounting and Financial Reporting Council transaction levy of 0.00015%) on the market during the stabilization period. The last purchase made by the Stabilizing Manager or any person acting for it on the market during the stabilization period was on November 4, 2022 at the price of HK$2.21 per Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and Accounting and Financial Reporting Council transaction levy of 0.00015%).

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LAPSE OF THE OVER-ALLOTMENT OPTION

The Company further announces that the Relevant Global Coordinators did not exercise the Over-allotment Option during the stabilization period, and the Over-allotment Option lapsed on Sunday, November 6, 2022.

PUBLIC FLOAT

Immediately after the end of the stabilization period, the Company will continue to comply with the public float requirements under Rules 8.08(1)(a) of the Listing Rules.

By order of the Board Flowing Cloud Technology Ltd Wang Lei Chairman

Hong Kong, November 7, 2022

As at the date of this announcement, the Board comprises Mr. Wang Lei, Mr. Li Yanhao, Ms. Xu Bing and Mr. Li Yao as executive Directors and Mr. Jiang Yi, Mr. Tan Deqing and Ms. Wang Beili as independent non-executive Directors.

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