Pan Asia Data Holdings Inc. — M&A Activity 2021

May 31, 2021

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.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

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Pan Asia Data Holdings Inc. 聯洋智能控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1561)

DISCLOSEABLE TRANSACTION ACQUISITION OF CONTROL OF LIAN YANG GUO RONG HOLDINGS LIMITED — SATISFACTION OF CONDITIONS PRECEDENT

Reference is made to the announcements of the Company dated (i) 11 February 2021 in relation to the acquisition of control of Lian Yang Guo Rong Holdings Limited (the ‘‘Announcement’’); and (ii) 31 March 2021, 14 April 2021 and 16 May 2021 in relation to the extension of the Long Stop Date. Capitalised terms used herein have the same meanings as defined in the Announcement unless otherwise specified.

The Company is pleased to announce that save for Condition (e) relating to the grant of awarded Shares to a nominee of the Vendor, all of the Conditions have been satisfied as at 31 May 2021. The parties have agreed to waive Condition (e) and proceed to Completion, and that such awarded Shares will be issued by the Company to the Vendor’s nominee as and when a suitable nominee has been put forward by the Vendor after Completion.

The parties are now finalising the necessary documents for Completion and expect Completion to take place within the next few days. Further announcement(s) will be made by the Company when Completion takes place.

By order of the Board Pan Asia Data Holdings Inc. Li Zhong Yuan Chairman

Hong Kong, 31 May 2021

At the date of this announcement, the Board comprises Dr. Li Zhong Yuan (Chairman) and Ms. Liu Rong Rong as executive Directors; and Mr. Li Gong, Mr. Wang Jianping and Dr. Shi Ping as independent non-executive Directors.