Mobvista Inc. — M&A Activity 2025

Jun 16, 2025

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Mobvista

Mobvista Inc.

匯量科技有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1860)

VOLUNTARY ANNOUNCEMENT

UPDATES ON POTENTIAL DISPOSAL

This announcement is made by Mobvista Inc. (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

LATEST STATUS ON THE POTENTIAL DISPOSAL

References are made to the Company's announcements (i) dated 27 February 2025 in relation to, among other matters, a potential disposal (the "Potential Disposal") of its Mintegral and marketing technology businesses (the "Announcement"); and (ii) dated 10 and 20 March 2025, in relation to, among other matters, a proposed meeting of the board (the "Board") of directors (the "Directors") of the Company to discuss, among other matters, the Potential Disposal and the declaration of a special dividend in connection therewith (the "Proposed Special Dividend"). Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

The Board reiterates its commitment to the interest of all shareholders and to maximize the Company's corporate value. The Board, therefore, wishes to inform its shareholders and potential investors that, after thorough and ongoing discussions, the Potential Disposal has not yet progressed to a stage that would require disclosure under the Listing Rules. The Board has not yet reached a consensus regarding the Potential Disposal, and the Company has not yet agreed to mutually acceptable transaction terms regarding the Potential Disposal with any potential purchaser. Accordingly, there is currently no set timetable for the Potential Disposal. The Company will continue to closely observe developments and will provide updates in accordance with the requirements of the Listing Rules should there be any significant changes.

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As the declaration of the Proposed Special Dividend is contingent upon the Board’s approval of the Potential Disposal, and given that the Board has not yet reached a consensus on the Potential Disposal, the Board meeting to consider and approve the Proposed Special Dividend has also been deferred. The Board requires additional time to further assess the situation and consider potential courses of action. Should there be greater clarity regarding the Potential Disposal, the Company will determine a new date for the Board meeting and will provide further updates as appropriate in accordance with applicable regulatory requirements.

POTENTIAL IMPACTS OF THE NEW U.S. REGULATIONS ON THE COMPANY'S BUSINESS

As disclosed in the Announcement, in April 2024, the US Congress passed the “Protecting Americans’ Data from Foreign Adversaries” Act (“PADFAA”). Generally, PADFAA prohibits data brokers from transferring personally identifiable sensitive data to certain named foreign adversary countries or entities controlled by such countries. In December of the same year, the US Department of Justice issued regulatory rules governing large-scale sensitive U.S. data, which have come into effect on 8 April 2025. Additionally, on 21 February 2025, the White House further clarified its “America First Investment Policy”, stating that it may impose stricter regulatory reviews on sectors involving technology, infrastructure, and critical industries — including companies and transactions that handle personal data. Collectively, these regulations reflect a tendency to restrict the transfer and process of personally identifiable sensitive data of a U.S. individual, and as a result, may subject the Company’s Mintegral and marketing technology businesses to more rigorous compliance requirements.

The Company’s Mintegral business operates a world-leading programmatic advertising technology platform that is principally engaged in (i) providing app developers with user acquisition services to conduct cost-efficient mobile advertising campaigns across a variety of media and charging them based on advertising performance; and (ii) providing app developers with monetization services to deliver ads suitable and of interest to their users to fill the ad inventories in their apps. Its marketing technology business offers data analytics services to app developers to help them track their apps performance and understand behaviours of their users, thereby optimizing their marketing strategies and achieve higher revenue goals. Both business lines may involve accessing and processing relevant user data from all around the world, including the U.S. region. For the time being, the Company’s access to the relevant data remains uninterrupted and its operations under the existing regulatory framework have not been materially impacted. However, the legislative intent behind these regulations clearly points to geopolitical risks, which the Company is closely monitoring. If geopolitical tensions further escalate, accompanied by the introduction and strict enforcement of additional related regulations, this could potentially have a material adverse impact on the Company’s data traffic allocation, business partnerships, and revenue.

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In light of the above, after prudent consideration, while assessing the Potential Disposal, the Board also believes it is necessary to adopt measures to address potential regulatory risks including but not limited to, rigorous monitoring of geopolitical developments, allocating additional resources to internal compliance and external legal consultation, and establishing a know-your-client system that complies with relevant regulations.

The Company will continue to monitor the situation closely and will make further announcements if and as appropriate in accordance with the requirements of the Listing Rules.

Shareholders and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board
Mobvista Inc.
DUAN Wei
Chairman

Singapore, 16 June 2025

As at the date of this announcement, the Board comprises Mr. DUAN Wei (Chairman), Mr. CAO Xiaohuan (chief executive officer), Mr. FANG Zikai and Mr. SONG Xiaofei as executive Directors; Mr. WONG Tak-Wai as a non-executive Director; and Mr. SUN Hongbin, Ms. CHEUNG Ho Ling Honnus and Mr. WONG Ka Fai Jimmy as independent non-executive Directors.

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