Jiangsu Lopal Tech. Group Co., Ltd. — M&A Activity 2025

Jan 22, 2025

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.

Jiangsu Lopal Tech. Co., Ltd.

江蘇龍蜡科技股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2465)

COMPLETION OF SHANDONG MEIDUO ACQUISITION

Reference is made to the prospectus of Jiangsu Lopal Tech. Co., Ltd. (the "Company") dated October 22, 2024 (the "Prospectus") and the announcement of the Company dated January 15, 2025 (the "Update Announcement"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as those defined in the Prospectus.

As disclosed in the Prospectus, the Company entered into Shandong Meiduo Original Agreement and the Shandong Meiduo Supplemental Agreement with and among Lopal International and Shandong Meiduo, pursuant to which, the Company conditionally agreed to acquire 100% equity interest in Shandong Meiduo from Lopal International at an aggregate consideration of RMB100,539,200 ("Shandong Meiduo Acquisition"). As disclosed in the Update Announcement, the Production Condition (as defined in the Update Announcement) has been fulfilled.

The Board announces that completion of Shandong Meiduo Acquisition took place on January 21, 2025, being the date on which the filing and registration with the local authorities in respect of the Shandong Meiduo Acquisition has been completed. Following which, Shandong Meiduo becomes a wholly-owned subsidiary of the Company and its financial results will be consolidated into the financial statements of the Group.

By order of the Board

Jiangsu Lopal Tech. Co., Ltd.

SHI Junfeng

Chairman

Nanjing, PRC

January 22, 2025

As at the date of this announcement, the Board comprises Mr. SHI Junfeng, Mr. LU Zhenya, Mr. QIN Jian, Mr. SHEN Zhiyong and Mr. ZHANG Yi as executive Directors; Ms. ZHU Xianglan as non-executive Director; and Mr. LI Qingwen, Mr. YE Xin, Ms. GENG Chengxuan and Mr. HONG Kam Le as independent non-executive Directors.