Qiniu Limited — Capital/Financing Update 2012

Dec 17, 2012

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.

SIBERIAN MINING GROUP COMPANY LIMITED 西伯利亞礦業集團有限公司 [*]

(incorporated in the Cayman Islands with limited liability)

(Stock code: 1142)

COMPLETION OF SUBSCRIPTION FOR NEW SHARES UNDER GENERAL MANDATE

The Board is pleased to announce that all conditions precedent of the Subscription as set out in the Subscription Agreement have been satisfied, and the Subscription has been completed on 17 December 2012 in accordance with the terms and conditions of the Subscription Agreement.

An aggregate of 70,000,000 new Shares, representing approximately 16.57% of the total issued share capital of the Company as enlarged by the issue and allotment of the Subscription Shares as at the date of this announcement, have been allotted and issued by the Company to the Subscriber, at the Subscription Price of HK$0.250 per Subscription Share under the General Mandate.

Reference is made to the announcement of Siberian Mining Group Company Limited (the “ Company ”) dated 5 December 2012 (the “ Announcement ”) in relation to, among others, the Subscription. Capitalized terms used in this announcement shall have the same meanings as defined in the Announcement unless otherwise stated.

COMPLETION OF THE SUBSCRIPTION

The Board is pleased to announce that all conditions precedent of the Subscription as set out in the Subscription Agreement have been satisfied, and the Subscription has been completed on 17 December 2012 in accordance with the terms and conditions of the Subscription Agreement.

An aggregate of 70,000,000 new Shares, representing approximately 16.57% of the total issued share capital of the Company as enlarged by the issue and allotment of the Subscription Shares as at the date of this announcement, have been allotted and issued by the Company to the Subscriber, at the Subscription Price of HK$0.250 per Subscription Share under the General Mandate.

The net proceeds (net of any related expenses borne by the Company) from the Subscription amounted to approximately HK$17,150,000.

* for identification purpose only

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CHANGES IN SHAREHOLDING STRUCTURE

The table below sets out the shareholding structure of the Company immediately before and immediately after the Completion:

Name of Shareholder Goldwyn Management Limited_(Note 1)_ Pang Ngoi Wah Edward, a non-executive Director Sub-total Subscriber Income Plus Investment Limited Master Impact Inc. Skyline Merit Limited Other public Shareholders Sub-total Total	Shareholding immediately before Completion No. of Shares % (approx.) 11,400,000 3.24% 175,000 0.05% 11,575,000 3.29% — 0.00% 20,678,685 5.87% 62,036,055 17.60% 41,357,370 11.73% 216,795,653 61.51% 340,867,763 96.71% 352,442,763 100.00%	Shareholding immediately after the Completion No. of Shares % (approx.) 11,400,000 2.70% 175,000 0.04% 11,575,000 2.74% 70,000,000 16.57% 20,678,685 4.90% 62,036,055 14.68% 41,357,370 9.79% 216,795,653 51.32% 410,867,763 97.26% 422,442,763 100.00%	Shareholding immediately after the Completion No. of Shares % (approx.) 11,400,000 2.70% 175,000 0.04% 11,575,000 2.74% 70,000,000 16.57% 20,678,685 4.90% 62,036,055 14.68% 41,357,370 9.79% 216,795,653 51.32% 410,867,763 97.26% 422,442,763 100.00%
			2.74%
			16.57% 4.90% 14.68% 9.79% 51.32%
			97.26%
			100.00%

Note:

1. Goldwyn Management Limited is wholly and beneficially owned by Mr. Lim Ho Sok, an executive Director and the Chairman of the Company.

By Order of the Board Siberian Mining Group Company Limited Lim Ho Sok Chairman

Hong Kong, 17 December 2012

As at the date of this announcement, the Board consists of Mr. Lim Ho Sok and Mr. Choi Jun Ho as executive directors, Mr. Pang Ngoi Wah Edward as non-executive director, and Mr. Cho Min Je, Mr. Liew Swee Yean, Mr. Tam Tak Wah and Mr. Young Yue Wing Alvin as independent non-executive directors.

This announcement will remain on the website of The Stock Exchange of Hong Kong Limited at www.hkexnews.hk on the “Latest Listed Company Information” page for at least 7 days from the date of its posting and on the Company’s website at http://siberian.todayir.com.

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