BEISEN HOLDING (09669) has announced details regarding the acquisition of Kuruan (Beijing) Technology Co., Ltd. (the target company) and the concurrent share transaction. The target company was acquired by the Group in January 2025, and its financial performance has been consolidated into the Company's financial statements since that time.

The Board of Directors is pleased to announce that, as of the date of this announcement, all conditions precedent for the concurrent share transaction have been satisfied. Furthermore, all necessary regulatory approvals were obtained after the target company received its "ICP License" in October 2025 and the share swap seller received outbound direct investment approval to subscribe for the consideration shares in January 2026.

Consequently, on February 11, 2026, in accordance with the overseas share purchase agreement, the Company allotted and issued 34.7616 million consideration shares to the share swap seller. This represents approximately 4.8% of the Company's total issued share capital (excluding treasury shares) immediately following the allotment and issuance. The consideration shares will be subject to a six-month lock-up period commencing from the date of this announcement.

The Directors also announce that, to offset the dilutive effect resulting from the allotment and issuance of the consideration shares, the Company has decided to cancel a total of 32 million treasury shares following the allotment and issuance.