Joy Spreader Interactive Technology : PROPOSED CHANGE OF COMPANY NAME AND PROPOSED SECOND AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION

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Joy Spreader Interactive Technology. Ltd ᆀԮʝਗϞࠢʮ̡

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 6988)

PROPOSED CHANGE OF COMPANY NAME

AND

PROPOSED SECOND AMENDED AND RESTATED MEMORANDUM

AND ARTICLES OF ASSOCIATION

The Board proposes to change the English name of the Company from "Joy Spreader Interactive Technology. Ltd" to "Joy Spreader Group Inc." and the dual foreign name of the Company from "ᆀԮʝਗϞࠢʮ̡" to "ᆀԮණྠϞࠢʮ̡".

The Proposed Change of Company Name is subject to (i) the passing of a special resolution by the Shareholders at the Company's forthcoming AGM approving the Proposed Change of Company Name; and (ii) the Registrar of Companies in the Cayman Islands approving the Proposed Change of Company Name by issuing a certificate of incorporation on change of name.

In view of the Proposed Change of Company Name, the Board also proposes to adopt the Second Amended and Restated Memorandum and Articles of Association, and the Proposed Change of Company Name by replacing all references to "Joy Spreader Interactive Technology. Ltd ᆀԮʝਗϞࠢʮ̡" in the Amended and Restated Memorandum and Articles of Association with "Joy Spreader Group Inc. ᆀԮණྠϞࠢʮ̡" to reflect the Proposed Change of Company Name. The Amendments is taking effect upon the passing of a special resolution and the Proposed Change of Company Name at the forthcoming AGM of the Company and the approval of the Proposed Change of Company Name by the Registrar of Companies of the Cayman Islands through the issuance of Certificate of Change of Name Registration.

A circular containing, among other matters, information in relation to the Proposed Change of Company Name and the Proposed Second Amended and Restated Memorandum and Articles of Association, together with a notice convening the AGM will be despatched to the Shareholders as soon as practicable.

PROPOSED CHANGE OF COMPANY NAME

The board of directors (the "Board") of Joy Spreader Interactive Technology. Ltd (the "Company", together with its subsidiaries, the "Group") proposes to change the English name of the Company from "Joy Spreader Interactive Technology. Ltd" to "Joy Spreader Group Inc." and the dual foreign name of the Company from "ᆀԮʝਗϞࠢʮ̡" to "ᆀԮණ ྠϞࠢʮ̡" (the "Proposed Change of Company Name").

Conditions of the Proposed Change of Company Name

The Proposed Change of Company Name is subject to satisfaction of the following conditions:

(i) the passing of a special resolution by the shareholders of the Company (the

"Shareholders") at the forthcoming annual general meeting of the Company (the "AGM") approving the Proposed Change of Company Name; and

(ii) the Registrar of Companies in the Cayman Islands approving the Proposed Change of Company Name by issuing a certificate of incorporation on change of name.

The relevant filings with the Registrar of Companies in the Cayman Islands will be made after the passing of the special resolution at the AGM. Subject to the satisfaction of the conditions set out above, the Proposed Change of Company Name will take effect upon the date of the issue of a certificate of incorporation on change of name by the Registrar of Companies in the Cayman Islands. Thereafter, the Company will carry out all the necessary registration and filing procedures for the change of company name of non-Hong Kong companies with the Companies Registry in Hong Kong.

Reasons for the Proposed Change of Company Name

The Company name of "Joy Spreader Interactive" dates back to 2008 when the Company was first established. At that time, the Company was mainly engaged in the marketing of interactive entertainment products (such as games) as such the Company name was in line with our key business features. With the continuous expansion of business, the Company's current principal businesses have been expanded to beyond the interactive entertainment products (such as e-commerce products), and keep on expanding. Therefore, a more applicable name is needed to fully represent the Company's current principal business features and reserve flexibility for further business expansion in the future. Subject to the relevant laws and regulations in all applicable jurisdictions where we operate our business, the Group's different businesses can be operated by different operating subsidiaries or consolidated affiliated entities in the future.

Effects of the Proposed Change of Company Name

The proposed change of the Company's name will not affect any rights of the holders of securities of the Company or the daily business operations and/or financial position of the Company.

All existing certificates of securities in issue bearing the present name of the Company will, upon the Proposed Change of Company Name becoming effective, continue to be evidence of title to such securities and the existing share certificates will continue to be valid for trading, settlement, registration and delivery purposes.

There will not be any arrangement for free exchange of the existing share certificates of securities in issue bearing the present name for new share certificates under the new name of the Company. Upon the Proposed Change of Company Name becoming effective, subject to the confirmation of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the Shares will be traded with the new English and Chinese stock short names. The share certificates to be issued thereafter will be in the new name of the Company.

PROPOSED SECOND AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION

In view of the Proposed Change of Company Name, the Board also proposes to adopt the second amended and restated memorandum and articles of association (the "Amendments"), and the Proposed Change of Company Name becoming effective by replacing all references to "Joy Spreader Interactive Technology. Ltd ᆀԮʝਗϞࠢʮ̡" in the Amended and Restated Memorandum and Articles of Association with "Joy Spreader Group Inc. ᆀԮණྠϞࠢʮ̡" to reflect the Proposed Change of Company Name. The Amendments is taking effect upon the passing of a special resolution and the Proposed Change of Company Name at the forthcoming AGM of the Company and the approval of the Proposed Change of Company Name by the Registrar of Companies of the Cayman Islands through the issuance of Certificate of Change of Name Registration.

GENERAL

A special resolution will be proposed at the AGM for the Shareholders to consider and, if thought fit, approve the Proposed Change of Company Name. A circular containing, among other matters, information in relation to the Proposed Change of Company Name and proposed Second Amended and Restated Memorandum and Articles of Association, and a notice convening the AGM will be despatched to the Shareholders as soon as practicable.

Further announcement(s) will be made as and when appropriate in relation to, among other things, the results of the AGM, the effective date of the Proposed Change of Company Name and the new English and Chinese stock short names for trading in the securities of the Company on the Stock Exchange.

By order of the Board

Joy Spreader Interactive Technology. Ltd

Zhu Zinan

Chairman

Beijing, the PRC

March 19, 2021

As at the date of this announcement, the Board comprises Mr. Zhu Zinan, Mr. Zhang Zhidi and Mr. Cheng Lin as executive Directors; Mr. Guo Sijia, Mr. Hu Qingping and Ms. Chen Yuanyuan as non-executive Directors; and Mr. Xu Chong, Mr. Tang Wei, Mr. Fang Hongwei and Mr. Yap Jin Meng Bryan as independent non-executive Directors.