Tanwan Inc. — Capital/Financing Update 2023

Oct 23, 2023

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) and Hong Kong Securities Clearing Company Limited (“ HKSCC ”) 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.

Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the prospectus dated September 18, 2023 (the “ Prospectus ”) issued by ZX Inc. (the “ Company ”).

This announcement is made pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong). This announcement is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire, purchase or subscribe for securities. Potential investors should read the Prospectus for detailed information about the Global Offering described below before deciding whether or not to invest in the Offer Shares.

This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not, and is not intended to, constitute or form a part of any offer to sell or solicitation to purchase or subscribe for any securities in the United States. The Offer Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “ U.S. Securities Act ”) or securities law of any state or other jurisdiction of the United States and may not be offered, sold, pledged or transferred within the United States, except pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. There will be no public offer of the Offer Shares in the United States. The Offer Shares are being offered and sold solely outside the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.

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ZX Inc. 中旭未來

(A company incorporated in the Cayman Islands with limited liability) (Stock Code: 9890)

STABILIZING ACTIONS, END OF STABILIZATION PERIOD AND LAPSE OF THE OVER-ALLOTMENT OPTION

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

The Company announces that the stabilization period in connection with the Global Offering ended on Saturday, October 21, 2023, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering. Further information in relation to the stabilizing actions undertaken by the Stabilizing Manager, or any person acting for it, during the stabilization period, is set out below.

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LAPSE OF THE OVER-ALLOTMENT OPTION

The Company further announces that the Over-allotment Option had not been exercised by the Overall Coordinators (on behalf of the International Underwriters) during the stabilization period and lapsed on Saturday, October 21, 2023. Accordingly, no Shares were or will be issued by the Company under the Over-allotment Option.

STABILIZING ACTIONS AND END OF STABILIZATION PERIOD

Pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong), the Company announces that the stabilization period in connection with the Global Offering ended on Saturday, October 21, 2023, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering.

The stabilizing actions undertaken by the Stabilizing Manager, or any person acting for it, during the stabilization period are set out below:

• (i) over-allocation of an aggregate of 2,846,400 Shares under the International Offering, representing approximately 15% of the total number of the Offer Shares initially available under the Global Offering before any exercise of the Over-allotment Option; and

• (ii) successive purchases of an aggregate of 2,846,400 Shares in the price range of HK$12.96 to HK$14.00 per Share (excluding brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%) on the market during the stabilization period. The last purchase made by the Stabilizing Manager or any person acting for it on the market during the stabilization period was on October 17, 2023 at the price of HK$13.90 per Share (excluding brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Stock Exchange trading fee of 0.00565%).

LAPSE OF THE OVER-ALLOTMENT OPTION

The Company further announces that the Over-allotment Option had not been exercised by the Overall Coordinators (on behalf of the International Underwriters) during the stabilization period and lapsed on Saturday, October 21, 2023. Accordingly, no Shares were or will be issued by the Company under the Over-allotment Option.

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PUBLIC FLOAT

Immediately after the end of the stabilization period, the Company complies and will continue to comply with the public float requirements under Rule 8.08(1)(a) of the Listing Rules.

By order of the Board ZX Inc.

Mr. WU Xubo Chairman of the Board and Executive Director

Hong Kong, October 21, 2023

As at the date of this announcement, the Board comprises Mr. WU Xubo and Ms. WU Xuan as executive Directors; and Ms. SONG Siyun, Mr. QIN Yongde and Ms. ZHENG Yi as independent non-executive Directors.

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