Synagistics Limited — Capital/Financing Update 2023

Feb 23, 2023

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.

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WEALTHKING INVESTMENTS LIMITED 華 科 資 本 有 限 公 司

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1140)

VOLUNTARY ANNOUNCEMENT EQUITY SUBSCRIPTION OF SHARES IN BA FINTECH

This announcement is made by Wealthking Investments Limited (the ‘‘Company’’) on a voluntary basis to provide the latest business development of the Company to the shareholders and potential investors of the Company.

Reference is made to the announcement of the Company dated 10 June 2022 in relation to a strategic cooperation memorandum of understanding (the ‘‘MOU’’) entered into between Block AI Company Limited (‘‘Block AI’’), a wholly-owned subsidiary of the Company, and BA Fintech Lab Limited (‘‘BA Fintech’’, the parent company of MaiCapital Limited (‘‘MaiCapital’’)) on 26 May 2022. In accordance with the MOU, Block AI agreed to participate in the follow-up financing of BA Fintech on a best effort basis in the capacity of a strategic investor.

The board of directors of the Company (the ‘‘Board’’) is pleased to announce that in order to strengthen partnership, Block AI has completed subscription for 627,324 new ordinary shares issued by BA Fintech (the ‘‘Equity Subscription’’). As a result of the Equity Subscription, Block AI now holds 15.46% equity interest in BA Fintech.

REASONS FOR AND BENEFITS OF EQUITY SUBSCRIPTION

MaiCapital, a subsidiary of BA Fintech, the first licensed asset management company focusing on virtual asset investment, has a professional asset management team and a strict risk management mechanism to ensure asset security and generate income in a turbulent market environment, with its professional capabilities at the forefront of the industry. The Hong Kong SAR government has been optimizing its regulatory policies on the virtual industry since last year. Virtual industry enters a new stage of development in Hong Kong, with enormous potential for development in the long run.

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The Board considers that policy advantages in Hong Kong will create new opportunities for virtual asset investment institutions, which would be beneficial to MaiCapital to achieve allround development in area of management scale, fund efficiency, product lines and risk management. Through the Equity Subscription, the Company may take an active part in the development of MaiCapital by cooperation and resource sharing, providing support for business development of MaiCapital and expecting to receive an ideal investment return.

ABOUT BA FINTECH LAB LIMITED

BA Fintech and its subsidiaries are leading investment institutions in the field of blockchain, dedicated to providing investors with legal and compliant virtual asset products. MaiCapital, a subsidiary of BA Fintech, is one of the first Hong Kong Securities and Futures Commission Type 4 & 9 asset manager in Hong Kong to have a dedicated Blockchain asset operation, such that its fund portfolio can manage investments of up to 100% virtual assets. At present, MaiCapital operates two active blockchain hedge funds, both of which adopt various proprietary trading strategies and make use of a series of investment tools in relation to cryptocurrencies to ensure compliance while increasing investment returns.

INFORMATION ON THE COMPANY

The Company is a limited liability company incorporated in the Cayman Islands and principally engaged in investment in a diversified portfolio comprising listed and unlisted enterprises thereby achieving earnings in the form of medium to long term capital appreciation.

LISTING RULES IMPLICATIONS

None of the applicable percentage ratios under Rule 14.07 of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the ‘‘Listing Rules’’) in respect of the Equity Subscription will trigger any disclosure, circular and shareholders’ approval requirements applicable to an investment company (as defined in Chapter 21 of the Listing Rules). This announcement is made by the Company on a voluntary basis for the information of shareholders and potential investors of the Company.

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

By order of the Board Wealthking Investments Limited Liu Zhiwei Executive Director and Chairman

Hong Kong SAR, 23 February 2023

As at the date of this announcement, the Board comprises one executive Director, namely, Dr. Liu Zhiwei; two non-executive Directors, namely Dr. Fu Weigang and Dr. Wang Shibin; and three independent non-executive Directors, namely, Mr. Chen Yuming, Mr. Yan Xiaotian and Mr. Zhao Kai.

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