GoFintech Quantum Innovation Limited — M&A Activity 2002

Jul 10, 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.

Voluntary Conditional Cash Offer by

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TINGKONG – REXCAPITAL SECURITIES INTERNATIONAL LIMITED

on behalf of Kandy Profits Limited to acquire all the shares in the issued share capital of Pacific Challenge Holdings Limited

Financial Adviser to Kandy Profits Limited

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EXTENSION FOR CLOSE OF OFFERS

The latest date for the fulfillment of all conditions of the Offers will be extended to 1 August 2002.

Reference is made to the announcement (the “ Announcement ”) dated 18 June 2002 issued by Kandy Profits Limited in respect of a voluntary cash offer to acquire all the shares in the issued share capital of Pacific Challenge Holdings Limited. Unless otherwise stated, terms used in this announcement shall have the same meanings as they are defined in the offer document dated 23 May 2002 issued by the Offeror.

As stated in the Announcement, all conditions of the Offers must be fulfilled or the Offers must lapse within 21 days of the first closing date, that is, 11 July 2002, unless the Executive consents to an extension.

Given that the Offeror has not received the regulatory approval by the SFC of the Offeror becoming a substantial shareholder of the Company, the Share Offer has not become unconditional in all respects as at the date of this announcement. The Offeror has applied to, and has obtained consent from, the Executive for the latest date for the fulfillment of all conditions to be extended to 1 August 2002.

By order of the Board Kandy Profits Limited Cheong Tin Yau Director

Hong Kong, 10 July 2002

The sole director of the Offeror accepts full responsibility for the accuracy of the information contained in this announcement and confirms, having made all reasonable enquiries, that to the best of his knowledge, opinion expressed in this announcement has been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statements in this announcement misleading.

"Please also refer to the published version of this announcement in the China Daily"

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