Wanka Online : SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO THE ANNUAL REPORT OF THE COMPANY FOR THE YEAR ENDED 31 DECEMBER 2019

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WANKA ONLINE INC. 萬 咖 壹 聯 有 限 公 司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1762)

SUPPLEMENTAL ANNOUNCEMENT

IN RELATION TO THE ANNUAL REPORT OF THE COMPANY

FOR THE YEAR ENDED 31 DECEMBER 2019

Reference is made to the annual report for the year ended 31 December 2019 published by Wanka Online Inc. (the "Company") on 23 April 2020 (the "Annual Report"). Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the Annual Report.

As disclosed in the Annual Report, the Shares of the Company were listed on the Main Board of the Stock Exchange on 21 December 2018 by way of global offering, raising total net proceeds of approximately HK$194.7 million (equivalent to approximately RMB171.2 million) after deducting professional fees, underwriting commissions and other related listing expens es. As at 31 December 2019, the Group had: (i) used approximately RMB20.5 million for strengthening our research and development capabilities; (ii) used approximately RMB25.7 million for promoting the development standard of Quick Apps; (iii) used approximately RMB10.3 million for expanding our service offerings and strengthening our ecosystem; (iv) used approximately RMB7.7 million for expanding our monetization channels and strengthening our sales and marketing capabilities; and (v) used approximately RMB13.7 million for working capital and general corporate uses. The remaining balance of the net proceeds was placed with banks. There has been no change in the intended use of net proceeds as previously disclosed in the Prospectus and the Group will apply the remaining net proceeds in the manner set out in the Prospectus.

The board of directors of the Company (the "Board") would like to provide additional information pursuant to paragraph 11A of Appendix 16 of the Rules Governing the Listing of Securities on the Stock Exchange in relation to the use of net proceeds raised from the initial public offering (the "IPO") as follows:

					Utilization			Expected
			Utilization up to	during the			timeline
	Net proceeds	31 December	Reporting	Unutilized	for the
	from the IPO	2019		Period	proceeds	use of
	HK$' RMB$'	HK$' RMB$'	HK$' RMB$'	HK$' RMB$' unutilized
	million	million million million million million	million	million	Proceeds
Strengthening	58.4	51.4	23.3	20.5	23.3	20.5	35.1	30.9	2021
research and

development capabilities

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										Utilization						Expected
						Utilization up to	during the						timeline
		Net proceeds	31 December	Reporting		Unutilized	for the
		from the IPO	2019		Period		proceeds	use of
		HK$'	RMB$'	HK$'	RMB$'	HK$'	RMB$'		HK$'	RMB$' unutilized
		million	million	million	million	million	million		million	million	Proceeds
Promoting the	58.4	51.4	29.2	25.7		29.2	25.7	29.2	25.7	2021-
development																	2023
standard of
Quick Apps
Expanding	29.2	25.7	11.7	10.3		11.7	10.3	17.5	15.4	2021
service
offerings and
strengthening
ecosystem
Expanding	29.2	25.7	8.8	7.7		8.8	7.7	20.4	18.0	2021
monetization
channels and
strengthening
sales and
marketing
capabilities
Working	19.5	17.0	15.6	13.7		15.6	13.7	3.9	3.3	2020
capital and
general
corporate
uses
Total	194.7		171.2	88.6	77.9		88.6	77.9	106.1	93.3

The above supplemental information does not affect other information contained in the Annual Report and save as disclosed above, all other information in the Annual Report remains unchanged.

By order of the Board

Wanka Online Inc.

GAO Dinan

Chairman

Hong Kong, 17 August 2020

As at the date of this announcement, the board of directors of the Company comprises Mr. GAO Dinan, Mr. ZHENG Wei and Ms. ZHOU Yan as executive Directors; Mr. SONG Chunyu and Mr. CHEN Tao as non-executive Directors; and Mr. CHEN Baoguo, Mr. LIANG Zhanping and Ms. ZHAO Xuemei as independent non-executive Directors.

* For identification purposes only

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