Gelonghui July 26th 丨NOMAD TECH (08645.HK) announcement,On July 26, 2021, Goodway Max Limited, a wholly-owned subsidiary of the Company, acquired all of the shares of China Rice Bug Technology Holdings Co., Ltd. (“China Rice Bug”) from Gao Yusen at a cost of HK$8,000. The costs will be covered by the Group's internal resources.

China Rice Bug is a limited company incorporated in Hong Kong in June 2021. All of its issued share capital is owned by Gao. China Rice Bug holds all of the share capital of Rice Bug Technology Information (Shenzhen) Co., Ltd. (“Mimushi (Shenzhen)”, a limited company incorporated in China in June 2021). China Rice Bug and Rice Bug (Shenzhen) are registered as companies authorized to provide IT services, cloud security, cloud as a service, network security and internet security management services.

As of the date of the acquisition and the date of the announcement, China Rice Bug and Rice Bug (Shenzhen) both remained inactive, did not hold any assets, and did not incur any liabilities.

Through the acquisition, the company has established business development and operation bases in Hong Kong and China. As a result, the company will be able to expand its existing business of providing network support services and network connectivity services in the Hong Kong and China markets. The Board believes that in the long run, the acquisition will broaden its revenue streams and enhance the Group's financial performance and shareholder returns.