Youzan Technology Limited — Capital/Financing Update 2012

Mar 29, 2012

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.

China Innovationpay Group Limited 中國創新支付集團有限公司

(Incorporated in Bermuda with limited liability) (Stock Code: 8083)

ANNOUNCEMENT

Reference is made to the circular dated 24 January 2011 (the “ Circular ”) issued by China Innovationpay Group Limited (the “ Company ”) in relation to, among others, the Acquisition. Terms used herein shall have the same meanings as those defined in the Circular unless the context otherwise requires.

The Board is pleased to announce that the target under Adjusted Consideration Scenario 3 has been satisfied and accordingly, the Company issued the Convertible Bonds in an aggregate principal amount of HK$346,400,000 to the Vendor pursuant to the New Sale and Purchase Agreement and the CB Subscription Agreement on 29 March 2012.

By Order of the Board China Innovationpay Group Limited Guan Guisen Chairman

Hong Kong, 29 March 2012

As at the date of this announcement, the Board comprises two executive Directors, namely Mr. Guan Guisen and Dr. Lei Chunxiong; one non-executive Director, namely Mr. Li Yuezhong and three independent non-executive Directors, namely Dr. Fong Chi Wah, Mr. Wang Zhongmin and Mr. Gu Jiawang.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Company Announcements” page of the GEM website for at least 7 days from the date of its posting and on the Company’s website at www.innovationpay.com.hk.