We are pleased to announce that on 9 January 2023, China Merchants Securities (HK) Co., Limited (“CMS (HK)”, a subsidiary of China Merchants Securities International Company Limited), acting as one of the Joint Bookrunners and Joint Lead Managers of Fenbi Ltd. (“Fenbi” or “the Company”, stock code: 2469.HK), successfully assisted the Company to commence trading of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”). A total of 20 million shares are offered under the Global Offering, at an offer price of HK$9.90 per share, raising a total of HK$198 million (before the exercise of the over-allotment option) or approximately HK$228 million (assuming the over-allotment option is fully exercised).

CMS (HK) is honoured to become a part of the Company’s trusted syndicate team. Capitalizing on our extensive coverage of high-quality investors and excellent underwriting capabilities, CMS (HK) was able to overcome the volatile and challenging environment of the Hong Kong capital market with dedication and professionalism, and selectively introduced top Chinese and international investors to the Company. At the same time, CMS (HK) effectively coordinated expertise from onshore and offshore teams as an integrated platform, and remained fully committed to the overall marketing efforts throughout, demonstrating our conviction to offer the most efficient and comprehensive range of services to our clients. CMS (HK) made great contribution in promoting the Company’s unique investment highlights to a wide range of investors during the roadshow period and accompanied the Company to complete its IPO listing successfully.

About Fenbi Ltd.

Fenbi is a non-formal vocational education and training (“VET”) service provider in China, dedicated to making high-quality non-formal VET services accessible through technology and innovation. The Company is a leading career test preparation service provider in China, which provides a comprehensive suite of recruitment and qualification examination tutoring courses for adult students pursuing careers in government-sponsored institutions and a number of professions and industries. It helps college graduates excel in the competitive selection process administered by governmental institutions, and helps professionals obtain the relevant qualifications.