WELLCELL HOLD (02477) announced that on September 30, 2025, it had completed the acquisition of 80% of the issued share capital of Hwabao Trust Limited (the target company) from several individuals, who are independent third parties not connected to the company. The target company is a legally registered entity in Hong Kong that currently holds and maintains a Trust and Company Service Provider (TCSP) license issued by the Hong Kong Companies Registry. By acquiring a TCSP-licensed entity, the acquisition allows the group to provide more seamless services for Fopay users. In light of this, the board believes that the acquisition is in the overall interest of the company and its shareholders.

Besides expanding service offerings after acquiring a TCSP-licensed target company, Fopay will officially launch two new features: cross-border transfers and QR code payments, initially covering selected markets through licenses obtained from its partners. These new features will leverage stable coins for instant settlement, low costs, and high transparency, providing local users in selected markets with a more efficient and cost-effective payment experience. The group will continue to explore new investment and business opportunities to achieve sustainable growth and ultimately deliver greater returns to shareholders, including expanding the service scope of Fopay and reaching local users in other jurisdictions. Given the importance of complying with applicable laws and regulations in each targeted jurisdiction, the group will continually assess and ensure that any new investments, business developments, and service expansions through Fopay comply with all such relevant laws and regulations, either through collaboration with qualified and suitable service providers or partners, and/or by obtaining the necessary qualifications or licenses through application or acquisition when required.