Core Viewpoint - TechStar Acquisition Company has applied for the approval of its shares and warrants to be listed and traded on the Hong Kong Stock Exchange, with the principle approval granted on November 11, 2025 [1] Group 1: Share and Warrant Details - The last trading day for TechStar A shares and TechStar warrants is expected to be December 2, 2025, with trading commencing on December 10, 2025 [2] - The trading unit for TechStar A shares will be 500 shares, while the trading unit for the warrants will be 11,000 units [2] Group 2: Redemption Process - TechStar A shareholders will have the opportunity to redeem their shares at an estimated price of HKD 11.25 per share from November 12, 2025, to December 1, 2025 [3] - The final redemption price will be announced by TechStar, and payments will be completed by December 17, 2025, contingent upon the completion of the merger transaction [3] Group 3: Share Distribution and PIPE Agreements - Upon the effective date, TechStar A shareholders will receive 1.1 new shares of the successor company for each TechStar A share held, while holders of TechStar B shares will receive one new share [4] - TechStar and the target company have entered into PIPE investment agreements with three investors, agreeing to issue PIPE investment shares at HKD 10.00 per share [4] Group 4: Additional Financing - TechStar and the target company may enter into additional agreements with professional investors for share subscriptions at a price of HKD 10.00 per share, with a maximum subscription amount of HKD 1 billion [5]

Group 1 - The company expects to achieve a net profit attributable to shareholders of approximately RMB 140 million to RMB 180 million for the six months ending June 30, 2025, compared to a net loss of approximately RMB 76 million for the six months ending June 30, 2024 [1] - The adjusted net loss attributable to shareholders is expected to be approximately RMB 87 million to RMB 127 million for the six months ending June 30, 2025, compared to an adjusted net loss of approximately RMB 64 million for the six months ending June 30, 2024 [1] - The adjusted net loss is defined as profit or loss excluding certain items such as fair value changes of convertible preferred shares and warrants, share-based payments, professional fees related to special purpose acquisition company transactions, and expenses arising from capital restructuring [1] Group 2 - The turnaround from loss to profit is primarily due to fair value changes in financial liabilities measured at fair value through profit or loss, resulting in a non-cash gain of approximately RMB 769 million, compared to a non-cash loss of approximately RMB 4 million in the same period of 2024 [2] - This gain mainly arises from the conversion of convertible preferred shares into ordinary shares through a special purpose acquisition company transaction, which has been confirmed by the company's auditors [2] - The adjusted net loss has widened mainly due to the cessation of certain financial technology solutions, specifically the "Fat Cat White Bill" and "Fat Cat Easy Purchase" under transaction support settlement services [2]