WellCell Holdings Co., Limited (the Group) completed the acquisition on 30 September 2025 of 80% of the issued share capital of Hwabao Trust Limited (the Target Company). The Target Company holds a Trust and Company Service Providers license (TCSP License) from the Companies Registry of Hong Kong. According to the announcement, the acquisition enhances the Group’s ability to provide more seamless services on its “Fopay” mobile application, particularly for stable coin crypto payment requirements.

The acquisition is not subject to further announcement or shareholder approval under Chapter 14 of the local listing rules, given that the applicable percentage ratios are below 5%. As part of its broader payment and financial technology business, the Group will further develop Fopay, which was launched on 21 July 2025 as a one-stop payment technology platform.

The Group also announced the official launch of two new Fopay features—cross-border transfers and QR code payments—initially available in selected markets through suitably licensed partners. The new functions aim to leverage the speed and cost efficiency of stable coins for more effective local transfers and settlements.

Management outlined a commitment to ongoing investment and business opportunities, alongside regulatory compliance in each targeted market. Additional announcements will be made as needed, subject to relevant rules and regulations. Shareholders and investors are advised to note that future developments may be influenced by factors such as market conditions and regulatory frameworks.