QMD International Holdings Company Limited (JT9; ISIN: VGG3223A1057) is pleased to provide an update on the acquisitions of He Yan Company Limited.

The condition precedents, pursuant to the agreement to purchase the acquisition of He Yan Company Limited, have been fully satisfied and the purchase agreement has entered into force accordingly.

In accordance with the contract and the previous announcement, New Best Holdings Limited (“the vendor”), a company controlled by Mr. He Yan, will receive two million shares from existing holdings of own shares held by QMD International Ltd., and EUR 14 million of non-interest-bearing, non-demand loan. Thus, New Best Holdings Limited holds 18.18% of the outstanding shares of QMD and is a significant minority shareholder in the company.

Mr. He Yan has been appointed as the new CEO of QMD International. He succeeds Patrick P. L. Chan, who remains Chairman of the Board.

Mr. Patrick P. L. Chan stated: “With the successful completion of the acquisition, the path is now paved for the realignment of the company. I am delighted to place the operational leadership of QMD in the hands of Mr. He Yan. Leveraging his many years of experience in the field of digital assets, he represents the new direction of the company.”

Mr. He Yan added: “I am very pleased about the conclusion of this partnership, which opens up new options for us to finance our growth course. Today, we are observing the increasing adaptation of blockchain-based technologies in the established and regulated financial world. We are convinced that the growth story of decentralized technologies, and the coins associated with them, is only just beginning. In this market, we want to establish ourselves as a reliable
operator that creates added value for service providers in the digital ecosystem through
sustainably operated data centers.”