Yidu Tech Inc. — Capital/Financing Update 2025

Oct 23, 2025

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.

Yidu Tech Inc.

醫渡科技有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2158)

VOLUNTARY ANNOUNCEMENT

TOTAL RETURN SWAP

This announcement is made by the Board on a voluntary basis.

TOTAL RETURN SWAP

On 23 October 2025, a subsidiary of the Company entered into the TRS Transaction with the TRS Counterparty. The Maximum Equity Notional Amount of the TRS Transaction is approximately HK$54,404,700 (converted from USD based on the prevailing FX rate on the date of this announcement).

For the avoidance of doubt, the sum of (i) the Maximum Equity Notional Amount of the TRS Transaction, and (ii) the actual equity notional amount as of the end of the initial execution period (the "Actual Equity Notional Amount") of the previous total return swap transaction entered into by the Group as announced under the announcements of the Company dated 21 October 2024, 28 October 2024 and 25 April 2025 (the "Previous TRS Transaction"), is approximately HK$60,957,392.64.

TERMS OF THE TRS TRANSACTION

Under the terms of the TRS Transaction, the TRS Transaction will be for a term of approximately three years. Subject to certain conditions, either party has the option to terminate the TRS Transaction early. No physical delivery of Shares will be made to the Group under the TRS Transaction. Further, the TRS Counterparty has no obligation to purchase any Shares and the Group has no right to direct the TRS Counterparty to purchase any Shares or enter into any hedge positions.

The Initial Price will be determined by the TRS Counterparty based on a guaranteed discount to the arithmetic average of the daily volume weighted average prices during the relevant period (being a period determined by a broker dealer subject to the same securities law and rules and regulations as the TRS Counterparty or its affiliates, but subject to a pre-agreed minimum and maximum duration) and subject to a pre-agreed maximum price per Share. The number of Shares referenced by the TRS Transaction will be the Maximum

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Equity Notional Amount divided by the Initial Price (subject to adjustment for days on which the daily volume weighted average price exceeds the aforementioned maximum price per Share).

The Final Price under the terms of the TRS Transaction will be determined by the TRS Counterparty based on a pre-agreed price determination mechanism referencing the unwinding and/or disposal of hedge positions in respect of the TRS Transaction by a broker dealer subject to the same securities law and rules and regulations as the TRS Counterparty or its affiliate, subject to a pre-agreed minimum price per Share. The parties may further agree to applicable trading parameters that such broker dealer would be subject to when unwinding or disposing of its hedge positions.

In connection with the termination of the TRS Transaction, any Shares acquired by the TRS Counterparty may be sold to a trust set up in relation to or in connection with any employee incentive scheme of the Company (such as the trust(s) set up in relation to or in connection with the Post-IPO Share Award Scheme).

The TRS Counterparty will have sole and absolute discretion to determine its hedge position establishment strategy and any hedging activities in respect of the TRS Transaction will be made independent from the Company.

REASONS FOR AND BENEFITS OF THE TRS TRANSACTION

The Company entered into the TRS Transaction in accordance with its terms in order to hedge the Company's exposure to future Share price appreciation. The costs to be incurred and cash flow to be expended by the Company to fund the purchase of Shares from time to time may increase the Company's exposure to Share price appreciation. The Board believes that entering into the TRS Transaction in accordance with the relevant terms may assist to hedge the risk of increasing price faced by the Company in the acquisition of the Shares under the Post-IPO Share Award Scheme in the future.

Based on the abovementioned reasons and taking into account all relevant factors and considerations, the Board believes that the terms of the TRS Transaction are fair and reasonable, and the entering into of the TRS Transaction on such terms is in the interests of the Company, the Group and the Shareholders as a whole.

IMPLICATIONS UNDER THE LISTING RULES

None of the applicable percentage ratios under Rule 14.07 of the Listing Rules in relation to the TRS Transaction (on a standalone basis) is 5% or more. Also, none of the applicable percentage ratios under Rule 14.07 of the Listing Rules in relation to the TRS Transaction and the Previous TRS Transaction (on an aggregated basis) is 5% or more. As such, the TRS Transaction is not subject to any of the reporting, announcement or shareholders' approval requirements under Chapter 14 of the Listing Rules.

To the best knowledge, information and belief of the Directors having made all reasonable enquiries, the TRS Counterparty is a third party independent of the Company and is not a connected person of the Company. As such, the TRS Transaction is not regarded as a connected transaction under Chapter 14A of the Listing Rules.

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INFORMATION RELATION TO THE GROUP

As a driving force in China's AI-powered healthcare transformation, the Group adheres to the mission of making precision healthcare accessible to everyone. The Group is dedicated to delivering professional, efficient, precise, and inclusive AI medical products and solutions. Powered by the Group's proprietary core algorithm engine, YiduCore, the Group has built a "data-algorithm-scenario" flywheel ecosystem that enables efficient innovation and cost-effective, scalable applications of AI technologies across the entire healthcare value chain — spanning healthcare services, pharmaceuticals, insurance, and patients with the aim of promoting intelligent decision-making and empowerment.

The core value of AI medical lies in enhancing the quality and efficiency of medical evidence generation. By optimizing the full lifecycle of research, diagnosis, and treatment, the Group helps make healthcare services safer, better, and more accessible. The Group continuously drives improvements in healthcare services efficiency and accessibility: empowering healthcare providers with precise and effective decision-making tools; accelerating the path from molecule to patient for pharmaceutical companies; delivering affordable, precise diagnosis and treatment to patients; and supporting public health systems with scientific insights. At the heart of all this is a profound respect for each individual life and a steadfast commitment to safeguarding the health and well-being of all.

Shareholders and potential investors are advised to exercise caution in dealing in the Shares.

DEFINITIONS

In this announcement, unless the context otherwise requires, the following expressions shall have the following meanings when used herein:

"Board" the board of Directors

"Company" Yidu Tech Inc. (醫渡科技有限公司), a company incorporated under the laws of the Cayman Islands with limited liability, and the shares of which are listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 2158)

"Director(s)" the director(s) of the Company

"Final Price" the final price of the TRS Transaction

"Group" the Company and its subsidiaries

"HK$" Hong Kong dollars

"Initial Price" the initial price of the TRS Transaction

"Listing Rules" the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited

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“Maximum Equity Notional Amount” an amount in Hong Kong dollars equal to the Initial Price multiplied by the number of Shares underlying the TRS Transaction, subject to a maximum of HK$54,404,700 (converted from USD based on the prevailing FX rate on the date of this announcement)

“Post-IPO Share Award Scheme” the post-IPO share award scheme approved and adopted by the Company on 28 December 2020 with effect from the listing of the Company on the Main Board of The Stock Exchange of Hong Kong Limited, and amended on 28 September 2023

“Share(s)” ordinary share(s) in the share capital of the Company

“TRS” a total return swap

“TRS Counterparty” Goldman Sachs International

“TRS Transaction” the total return swap transaction entered into by a subsidiary of the Company with the TRS Counterparty on 23 October 2025

By order of the Board
Yidu Tech Inc.
Gong Yingying
Executive Director and Chairlady

Hong Kong, 23 October, 2025

As at the date of this announcement, the executive Directors are Ms. Gong Yingying, Mr. Xu Jiming, Ms. Feng Xiaoying and Dr. Xie Li; the non-executive Director is Mr. Zeng Ming; and the independent non-executive Directors are Dr. Ma Wei-Ying, Ms. Pan Rongrong and Prof. Zhang Linqi.