Youzan Technology Limited — Capital/Financing Update 2019

Aug 16, 2019

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.

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(Incorporated in Bermuda with limited liability)

(Stock Code: 8083)

CLARIFICATION ANNOUNCEMENT FOR COMPLETION OF (I) CONNECTED TRANSACTION: PROPOSED SUBSCRIPTION OF SHARES IN A NON-WHOLLY OWNED SUBSIDIARY; AND (II) ISSUE OF SHARES AND WARRANTS TO BAIDU BY A NON-WHOLLY OWNED SUBSIDIARY

References are made to the announcements of the Company dated (i) 7 August 2019 (the “ Announcement ”) and (ii) 14 August 2019 regarding Completion in relation to the Subscription Agreement (the “ Completion Announcement ”). Unless the context requires otherwise, capitalised terms used herein shall have the same meanings as defined in the Announcement.

The Board would like to clarify that as at the date of the Completion Announcement, Baidu SPV held approximately 1.20% of the total issued shares of Qima.

Save as disclosed above, all other information in the Completion Announcement shall remain unchanged.

By Order of the Board

China Youzan Limited Guan Guisen Chairman

Hong Kong, 16 August 2019

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As at the date of this announcement, the Board comprises seven executive Directors, Mr. Guan Guisen, Mr. Cao Chunmeng, Mr. Yan Xiaotian, Mr. Zhu Ning, Mr. Cui Yusong, Mr. Yu Tao and Ms. Ying Hangyan; and four independent non-executive Directors, Dr. Fong Chi Wah, Mr. Gu Jiawang, Mr. Xu Yanqing and Mr. Deng Tao.

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.chinayouzan.com.

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