Ying Hai Group Holdings Company Limited Announces Its Subscription Results

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Recorded approximately 53.9 times of over-subscription for its Hong Kong public offering

HONG KONG, CHINA – Media OutReach – 25 September 2019 – Ying Hai Group Holdings Company Limited (“Ying Hai Group”, together with its subsidiaries, the “Group”; stock code: 8668), a wholesale licensed travel agent and a car rental services provider based in Macau, announced the subscription results for its shares (the “Shares”) under the Hong Kong public offering (the “Public Offer”) and international placing (the “Placing”, collectively, the “Share Offer”). The Shares under the Public Offer have been very significantly over-subscribed by approximately 53.9 times. The offer price per Share has been set at HK$0.24 per Share. Dealings in the Shares on the GEM of The Stock Exchange of Hong Kong Limited (“SEHK”) is expected to commence on 26 September 2019 (Thursday).

Based on the final offer price of HK$0.24 per Share, the net proceeds from the Share Offer to be received by the Company (after deducting underwriting fees and estimated expenses in connection with the Share Offer) is estimated to be approximately HK$41.0 million.

Ying Hai Group intends to use these net proceeds for the following purposes: 1) approximately 52.9% will be used for expansion of its car fleet; 2) approximately 16.2% will be used for expansion of its business by cooperating with more hotel operators; 3) approximately 17.4% will be used for increasing its marketing and expansion of its sales channel; 4) 4.1% will be used for renovation of a new office; 5) approximately 6.6% will be used for expansion of its workforce; 6) approximately 2.8% will be used as its general working capital.

Lego Corporate Finance Limited is the Sole Sponsor. Lego Securities Limited is the sole bookrunner. Lego Securities Limited and Great Roc Capital Securities Limited are the joint lead managers.

Mr. Choi Wai Chan, Chairman, Chief Executive Officer and Executive Director of Ying Hai Group Holdings Company Limited, said, “We believe that the result of the Share Offer has affirmed market’s confidence in our future prospects. The travel agent industry is expected to continue its growth, driven by the Macau government’s initiatives and upgraded infrastructure, including the opening of the Hong Kong — Zhuhai — Macao Bridge. Listing on the GEM of SEHK enables the Group to further enhance its corporate profile and competitiveness, to generate greater returns for our shareholders.”

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