Yunbaiyao Hong Kong Co., Limited made an offer to acquire 30.5% stake in Ban Loong Holdings Limited (SEHK:30) for approximately HKD 560 million on October 27, 2021. Under the terms of acquisition, Yunbaiyao Hong Kong will acquire 1.9 billion shares at price of HKD 0.3 per share. Yunbaiyao Hong Kong intends to finance the cash amounts required for the Offer through the Loan Facility made available by CMB Wing Lung Bank, which will be secured by, among others, the Share Charges. The ninth meeting of the company's ninth board of directors in 2021 passed the transaction on November 3, 2021. No need to submit to the general meeting of shareholders for deliberation. The tender offer opens on December 15, 2021 and closes on January 5, 2021 As on January 4, 2022, the Offeror has received valid acceptances in respect of an aggregate of 1,319,881,798 Offer Shares under the Offer, representing approximately 20.47% of the entire issued share capital of Ban Loong Holdings Limited. Taking into account the Acceptance Shares and the Shares already owned by the Offeror and parties acting in concert with it, the Offeror and parties acting in concert with it held an aggregate of 3,283,907,158 Shares, representing approximately 50.93% of the entire issued share capital of Ban Loong Holdings Limited. Accordingly, the Condition set out has been satisfied and the Offer has become unconditional in all respects. The Offer will remain open for acceptance until January 18, 2022. Red Sun Capital Limited acted as financial advisor to Ban Loong Holdings Limited and China International Capital Corporation Hong Kong Securities Limited acted as financial advisor to Yunbaiyao Hong Kong in the deal. Kirkland & Ellis acted as legal advisor to Yunbaiyao Hong Kong Co.

Yunbaiyao Hong Kong Co., Limited completed the acquisition of 48.1% stake in Ban Loong Holdings Limited (SEHK:30) for approximately HKD 900 million on January 18, 2022. The Offeror had received valid acceptances in respect of 3,101,911,000 Offer Shares, representing approximately 48.11% Ban Loong Holdings Limited. Taking into account the Acceptance Shares and Shares already owned by the Offeror and parties acting in concert with it, the Offeror and the parties acting in concert with it are interested in an aggregate of 5,065,936,360 Shares, representing approximately 78.56 of Ban Loong Holdings Limited.