VCREDIT Holdings Limited announced Partial Repurchase and Cancellation of USD 85,000,000 11.0% Senior Notes Due 2022. On 29 August 2022, the company agreed to repurchase an aggregate principal amount of USD 4,585,000 of the Notes (the "Repurchased Notes") by way of private treaty from independent third parties for a total consideration of US$4,539,150 plus accrued interest, as applicable. Completion of the repurchase of the Repurchased Notes is expected to take place on 1 September 2022.

The Repurchased Notes represent 5.39% of the original principal amount of the Notes and 9.34% of the outstanding principal amount of the Notes immediately prior to the repurchase of the Repurchased Notes. The Repurchased Notes shall be cancelled following repurchase. After cancellation of the Repurchased Notes, the aggregate principal amount of the Notes remaining outstanding shall be US$44,530,000, representing 52.39% of the original principal amount of the Notes.

The Company may undertake further repurchases of the Notes outstanding from time to time as permitted by the terms and conditions of the Notes and, if and as appropriate, after taking into account factors such as market conditions and the price of the Notes. Further announcement(s) will be made in compliance with the Listing Rules as appropriate.