WELLCELL HOLD (02477): Acquires TCSP licensed company and launches new FOPAY feature

WELLCELL HOLD (02477) announces that as of September 30, 2025, the group has completed the acquisition of 80% of the issued share capital of Hwabao Trust Limited (the target company) from multiple individuals (independent third parties not related to the company). The target company is a company registered under Hong Kong laws and currently holds a trust and corporate service provider license issued by the Hong Kong Companies Registry. Through the acquisition, the group will be able to provide smoother and more seamless services for Fopay users with the necessary TCSP license. In light of the above, the board believes that the acquisition is in the overall interest of the company and its shareholders. In addition to expanding its service scope by acquiring a target company holding a TCSP license, Fopay will officially launch two new functions: cross-border transfers and QR code payments, initially covering selected markets through licenses obtained from its established partners. These new functions will enable Fopay to provide more efficient and cost-effective payment experiences for local users in these selected markets, leveraging stablecoin instant settlements, low costs, and high transparency. The group will continue to explore new investment and business opportunities to achieve sustainable growth and provide shareholders with greater returns in the long term, including expanding its service scope through Fopay and reaching local users in other jurisdictions. Compliance with applicable laws and regulations in all target jurisdictions is essential, and the group will continuously assess and ensure that any new investments, business developments, and service expansions through Fopay comply with all relevant laws and regulations, whether through collaboration with qualified and suitable service providers or business partners, and/or obtaining the necessary qualifications and/or licenses through applications or acquisitions when necessary.