Yeahka Limited — Capital/Financing Update 2021

Apr 26, 2021

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YEAHKA LIMITED 移卡有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9923)

VOLUNTARY ANNOUNCEMENT

(1) COMPLETION OF DISCLOSEABLE AND CONNECTED TRANSACTION ACQUISITION OF THE TARGET COMPANY INVOLVING ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE AND (2) BUSINESS UPDATE

COMPLETION OF DISCLOSEABLE AND CONNECTED TRANSACTION

References are made to the announcements of YEAHKA LIMITED (the “ Company ”) dated December 24, 2020 and December 28, 2020 and the circular of the Company dated January 29, 2021 (the “ Circular ”) in relation to the acquisition of the Target Company involving issue of the Consideration Shares under the Specific Mandate which constituted a discloseable and connected transaction of the Company. Capitalized terms used in this announcement have the same meanings as defined in the Circular unless otherwise defined.

The Board is pleased to announce that all the conditions precedent for the Acquisition had been fulfilled and the Completion took place on April 23, 2021 in accordance with the terms and conditions as set out in the Share Purchase Agreement. Upon the Completion, (1) the Target Company and Chuangxinzhong HK have become a direct wholly-owned subsidiary of the Company and an indirect wholly-owned subsidiary of the Company, respectively, and their financial results shall be consolidated into the Group’s financial statements; (2) Beijing Chuangxinzhong is owned by Yeahka Technology as to 42.50%, Chuangxinzhong HK as to 42.50%, Mr. Qin Lingjin as to 9.61%, Mr. Zhang Guoxian as to 3.30%, Mr. Pei Xiao as to 1.30% and Mr. Zhan Yang as to 0.79%; and (3) the Company allotted and issued an aggregate of 4,902,718 Shares under the Specific Mandate to the Vendors at the issue price of HK$37.50 per Consideration Share as part of the Consideration for the Sale Shares.

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BUSINESS UPDATE

The Company is committed to establishing an independent and sustainable commercial digitalized ecosystem by leveraging its app-based payment services. In terms of the Company’s payment services, the peak daily count of QR code payment transactions exceeded 36 million as of the date of this announcement. The Company’s gross payment volume increased by 49.8% during the first quarter of 2021 compared with that in 2020. As of March 31, 2021, the number of consumers served by the Company’s payment services and active payment service merchants (merchants who use the Company’s services for an aggregated transaction amount of over RMB1,000 for the past 12 months) increased by 80.9% and 16.3% compared with that as of March 31, 2020, respectively. With the rapid traffic growth in the first quarter of 2021, the Company is able to realize rapid monetization via its precision marketing services. The total exposures of the Company’s marketing services in the first quarter of 2021 were more than ten times that in 2020. Furthermore, in terms of the Company’s merchant SaaS products, the number of merchants served by Juhuisaosao (聚惠 掃掃), which was launched in 2020, reached 118,093 as of March 31, 2021, which was nearly 30 times that as of March 31, 2020. The Company’s solution to operate the private domain traffic of merchants, Yuehuiquan (約惠圈), is a coupon aggregation and distribution platform built upon blockchain’s underlying technology. Since its launch in 2020, it has served nearly 100,000 merchants as of March 31, 2021, which increased by 76.8% compared with that as of December 31, 2020.

Looking ahead, the Company will continue to expand its ecosystem offerings with its cuttingedge research and development and product innovation capability to develop more ways to create values for both merchants and consumers.

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 YEAHKA LIMITED Liu Yingqi Executive Director

Hong Kong, April 26, 2021

As at the date of this announcement, the Board comprises Mr. Liu Yingqi, Mr. Yao Zhijian and Mr. Luo Xiaohui as executive Directors, Mr. Mathias Nicolaus Schilling and Mr. Akio Tanaka as non-executive Directors and Mr. Tam Bing Chung Benson, Mr. Yao Wei and Mr. Yang Tao as independent non-executive Directors.

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