CAA Resources : Announcements and Notices - Voluntary Announcement - Memorandum of Understanding in Relation to the Possible Investment in Yuecheng Technology and Zudian Technology

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CAA Resources Limited Ꮄࢫ༟๕Ϟࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 02112)

VOLUNTARY ANNOUNCEMENT

MEMORANDUM OF UNDERSTANDING IN RELATION TO THE POSSIBLE INVESTMENT IN YUECHENG TECHNOLOGY AND

ZUDIAN TECHNOLOGY

This announcement is made by CAA Resources Limited (the "Company") on a voluntary basis.

The board of directors wishes to announce that on 10 January 2019, the Company entered into a non-legally-binding memorandum of understanding (the "MOU") with ଉ έቡ೻ၣഖ߅Ҧٰ΅Ϟࠢʮ̡ (Shenzhen Yuecheng Network Technology Company Limited) ("Yuecheng Technology") and ଉέ̹ॡཥ౽ঐ߅ҦϞࠢʮ̡ (Shenzhen City Zudian Technology Company Limited) ("Zudian Technology") (collectively the "Target Companies") respectively, with respect to the Company's proposed equity investment in the Target Companies (the "Potential Project").

THE TARGET COMPANIES

Yuecheng Technology was founded in August 2018, and provides a Business-to-Customer (B2C) platform for hotel room booking in China and its electronic commerce platform is MiaoGeFang (߆ࡈג). Yuecheng Technology has been in cooperation with a number of domestic travel agencies in relation to hotel room reservation services, and Yuecheng Technology also obtains the source of hotel rooms and users from Zudian Technology.

Zudian Technology was founded in June 2016, and is engaged in the development of sharable mobile phone charging facilities in China, and owns several national technology patents. Zudian Technology focuses on developing the sharable mobile phone charging platform which involves internet and internet of things technologies, and combines industry characteristics and big data application. Its mobile phone charging facilities include mobile phone charging facilities in hotel rooms.

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For identification only

The Potential Project is subject to the satisfactory results of the due diligence conducted by the Company on the Target Companies and the signing of a formal binding investment agreement (the "Binding Agreement"). It is a condition of the MOU that the Target Companies shall not negotiate or finalize any transaction with any third party during the exclusivity period as specified under the MOU which may adversely affect the Potential Project. Save and except for the clauses regarding exclusivity period, due diligence, and confidentiality which are legally binding, all the other provisions of the MOU are non-legally-binding. The Company will make a further announcement with respect to the implementation of the Potential Project as and when necessary.

By Order of the Board CAA Resources Limited CHU Lok Fung Barry

Company Secretary

Hong Kong, 10 January 2019

As at the date of this announcement, the executive Directors are Mr. Li Yang, Ms. Li Xiaolan, Mr. Wang Er, Ms. Xu Mijia, and the independent non-executive Directors are Mr. Leung Yiu Cho, Dr. Li Zhongquan and Dr. Wang Ling.