Yidu Tech Inc. — Capital/Financing Update 2025

Apr 25, 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.

響渡科技有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2158)

FURTHER SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO VOLUNTARY ANNOUNCEMENT TOTAL RETURN SWAP

References are made to the announcements of Yidu Tech Inc. (the "Company") dated 21 October 2024 and 28 October 2024 (the "Announcements") in relation to the TRS Transaction (as defined in the Announcements). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

On 25 April 2025, the Company and the TRS counterparty executed an amendment and restatement agreement to increase the maximum Equity Notional Amount of the TRS Transaction from HK$80 million to HK$186 million (the "Amended Maximum Equity Notional Amount"). Save for this amendment, there is no other material change to the terms and conditions of the TRS Transaction.

The maximum Equity Notional Amount was increased in order to further hedge the Company's exposure to future Share price appreciation. The Board believes that upsizing the TRS Transaction in accordance with the relevant terms may assist to hedge the potential risk of increasing prices faced by the Company in the acquisition of the Shares under the Post-IPO Share Award Scheme in the future.

Based on the Amended Maximum Equity Notional Amount, none of the applicable percentages under Rule 14.07 of the Listing Rules in relation to the TRS Transaction is 5% or more, and the TRS Transaction continues to be exempt from any of the reporting, announcement or shareholders' approval requirements under Chapter 14 of the Listing Rules.

Save as disclosed in this announcement, all other information set out in the Announcements remains unchanged. This announcement is supplemental to and should be read in conjunction with the Announcements.

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

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

Hong Kong, April 25, 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.