BEISEN HOLDING (09669): Cooltem (Beijing) Technology has successfully obtained the value-added telecommunications business operating license.

BEISEN HOLDING (09669) announces the acquisition of KuXuan (Beijing) Technology Co., Ltd. (the target company) and the simultaneous share transaction. On October 18, 2025, the target company successfully obtained the Value-Added Telecommunications Business Operation License issued by the Ministry of Industry and Information Technology of China, also known as the ICP License, with a business category of "information services (limited to Internet information services)". With the acquisition of the ICP License, the target company has obtained all regulatory authorizations necessary to carry out its main business, namely establishing an information platform in mainland China to provide online training courses. The company hereby reports the progress of the acquisition of the target company and the simultaneous share transaction to shareholders and potential investors. As previously disclosed, the target company was acquired by the group in January 2025, and its financial performance has since been fully consolidated into the company's financial statements. In April 2025, the preconditions for the second payment of the domestic equity transfer agreement were satisfied, and the group has fully paid the cash consideration. Accordingly, the acquisition and the domestic equity transfer agreement have been completed. Meanwhile, the stock swap sellers obtained approval for overseas direct investment to subscribe to shares of a BVI company in June and August 2025 respectively. According to the latest communication between the company and the stock swap sellers, the stock swap sellers are currently applying for overseas direct investment approval for the subscription of price shares. Therefore, the parties are still discussing the new final deadline for the simultaneous share transaction. As of the date of this announcement, the simultaneous share transaction has not been completed. The company will publish further announcements on the latest timetable for the simultaneous share transaction in due course.