Megain Holding (Cayman) Co., Ltd. (MEGAIN, 06939) and offeror Geehy International Limited issued a joint announcement on 13 March 2026 providing their scheduled monthly update on the possible unconditional mandatory cash offer for all MEGAIN shares not already held by the offeror and its concert parties.

The offer can only proceed if the share purchase agreement (SPA) and the two subscription agreements close simultaneously (collectively, “Completions”). These Completions are, in turn, conditional on multiple precedent conditions being met or waived by the 31 August 2026 long-stop date.

Current status of key conditions • None of the conditions under the SPA or the subscription agreements have been satisfied as of the announcement date. • For outbound direct investment (ODI) approvals, the offeror submitted an initial filing to the Guangdong Provincial Development and Reform Commission on 14 January 2026 and a related application to the Ministry of Commerce on 4 February 2026. Supplemental materials continue to be provided in response to regulator requests.

The parties will publish additional updates in accordance with Hong Kong Listing Rules and the Takeovers Code.

Risk reminder Completion of the transaction and the subsequent cash offer remain uncertain; shareholders and potential investors are advised to exercise caution when dealing in MEGAIN securities.