Youzan Technology Limited — Capital/Financing Update 2020

Oct 4, 2020

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)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO CONNECTED TRANSACTION OF SUBSCRIPTION OF SHARES IN A NON-WHOLLY OWNED SUBSIDIARY

Reference is made to the announcements of the Company dated 16 September 2020 and 22 September 2020 (collectively, the “ Previous Announcements ”). Capitalized terms used herein shall have the same meanings as those capitalized terms used in the Previous Announcements unless the context requires otherwise.

The Board wishes to provide the Shareholders and potential investors of the Company with additional information in relation to certain shareholders of Qima Holdings Ltd. as previously disclosed in the Previous Announcements as follows:

Certain shareholders of Qima Holdings Ltd.

Further information

Hillhouse KDWD Holdings Hillhouse Capital Management, Ltd. was the sole management company Limited of Hillhouse Fund II, L.P., which owned Hillhouse KDWD Holdings Limited. Hillhouse Fund II, L.P. was a discretionarily managed fund. The general partner for Hillhouse Fund II, L.P. was Hillhouse Fund II GP, Ltd. Hillhouse Capital Management, Ltd., Hillhouse Fund II, L.P., Hillhouse Fund II GP, Ltd. and Hillhouse KDWD Holdings Limited were independent third parties.

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Certain shareholders of Qima Holdings Ltd.

Further information

Franchise Fund Limited Franchise Fund Limited was a discretionarily managed fund managed by Franchise Capital Limited, which was set up by Mr. Shihong Wang. Mr. Shihong Wang was the only partner of Franchise Capital and an independent third party.

Tembusu HZ II Limited

• Tembusu HZ II Limited, an investment holding company established in the British Virgin Islands with limited liabilities, was wholly owned by Jingwei Chuangda (Hangzhou) Investment L.P. (“ Jing Wei ”). The general partner for Jing Wei was Hangzhou Jingwei Tengchuang Investment Management L.P. (“ Hangzhou Jing Wei ”). The general partner for Hangzhou Jing Wei was Shanghai Jingwei Equity Investment Management Co., Ltd. (“ Shanghai Jing Wei ”). Tembusu HZ II Limited, Jing Wei, Hangzhou Jing Wei and Shanghai Jing Wei were independent third parties.

• Matrix Partners China III, L.P.

  • Matrix Partners China III, L.P. was an exempted limited partnership company organized and continued under the laws of the Cayman Islands. The general partner of Matrix Partners China III, L.P. was Matrix China Management III, L.P., whose general partner was Matrix China III GP GP, Ltd. Matrix China III GP GP, Ltd., Matrix China Management III, L.P., and Matrix Partners China III, L.P. were independent third parties.

• Matrix Partners China III-A, L.P.

  • Matrix Partners China III-A, L.P. was an exempted limited partnership company organized and continued under the laws of the Cayman Islands. The general partner of Matrix Partners China III-A, L.P. was Matrix China Management III, L.P., whose general partner was Matrix China III GP GP, Ltd. Matrix China III GP GP, Ltd., Matrix China Management III, L.P., and Matrix Partners China III-A, L.P. were independent third parties.

• GCYZ HOLDINGS GCYZ Holdings Limited, a discretionarily managed fund, was wholly LIMITED owned by Gaocheng Fund I L.P. Gaocheng Holdings GP, Ltd acted as the sole general partner for Gaocheng Fund I L.P., and Gaocheng Capital Management Limited acted as the sole management company for Gaocheng Fund I L.P. GCYZ Holdings Limited, Gaocheng Fund I L.P., Gaocheng Holdings GP, Ltd and Gaocheng Capital Management Limited were independent third parties.

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Certain shareholders of Qima Holdings Ltd.

Further information

GCQM HOLDINGS LIMITED

GCQM Holdings Limited, a discretionarily managed fund, was wholly owned by GCQM L.P. Gaocheng Holdings GP, Ltd acted as the sole general partner for GCQM L.P., and Gaocheng Capital Management Limited acted as the sole management company for GCQM L.P. GCQM Holdings Limited, GCQM L.P., Gaocheng Holdings GP, Ltd and Gaocheng Capital Management Limited were independent third parties.

By Order of the Board China Youzan Limited Guan Guisen Chairman

Hong Kong, 30 September 2020

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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