To Lead the Development of New “Internet+ Education and Innovative Technology Finance” Business

HONG KONG — Cybernaut International Holdings Company Limited (“Cybernaut International” or “the Company”) (stock code: 1020.HK), (formerly Sinoref Holdings Limited), which officially changed to its current new name at the end of May, held a celebration cocktail reception cum Forum themed “Explore Internet+ Education and Innovative Technology Finance” today to highlight its future development strategy.

Cybernaut International’s new management team made its first-ever public appearance. Mr. Zhu Min, Chairman and Executive Director, Mr. Gao Xiang, Co-chief Executive Officer and Executive Director, and Mr. Wang Yang, Co-chief Executive Officer, were present and spoke to the audience. And, together with Professor Edwin Cheng, Dean of Faculty of Business, The Hong Kong Polytechnic University, and Dr. James Lei, Acting Director of Intelligent Software and Systems, Hong Kong Applied Science and Technology Research Institute Company Limited, they officiated the event, marking the important milestones of the name change and start of new businesses that open a new chapter for the Company. Ms. Agnes Wu, famous financial expert in Hong Kong, was the facilitator encouraging interaction and in-depth communication among the 200 investors and Hong Kong and Mainland China media present. During the event, three management team members shared their own entrepreneurial experiences, analyzed the opportunities and challenges in the Internet+ education and innovative technology finance industry and elaborated on the future business strategy of Cybernaut International.

Mr. Zhu Min, Chairman and Executive Director of Cybernaut International, is a well-known entrepreneur in China and the founder and Chairman of Cybernaut Investment Group (Cybernaut Investment), a leading private equity and venture capital fund in China. He became the Company’s major shareholder and was appointed Chairman and Executive Director of the Company in February 2017. He is hailed as the first Chinese overseas student to start a business in Silicon Valley. He co-founded NASDAQ-listed WebEx which was later acquired by Cisco Systems Inc. for US$3.2 billion.

Mr. Zhu, the Chairman, said, “Having taken on the new name Cybernaut International, the Company is building a new international corporate image. Capitalizing on the management team’s extensive experience and network in investment management and Internet business, as well as the Company’s advantages in technology, capital and internationalization, we plan to develop such new businesses as ‘Internet+ Education’ and ‘Innovative Technology Finance’ to broaden our business scope.”

Regarding the “Internet+ Education” business, Cybernaut International will strive to bring innovations such as Big Data and education cloud technologies together with the international capital market to create a complete education industrial chain. Mr. Gao has served as Chief Executive Officer of O2O platforms including Yaolan.com and Gome.com.cn and is currently the Joint Chief Executive Officer and Executive Director of Cybernaut International. After graduation, he joined Microsoft Corp at its headquarters and pursued advanced research and development work. Later, he set up the e-commerce portal for Chinese goods, which was subsequently acquired by a NASDAQ-listed company. After he came back to China, he joined several famous websites.

At the forum, Mr. Gao, the Joint Chief Executive Officer and Executive Director, said, “Cybernaut International will start with education, building platforms for education institutions to improve their operational capabilities and to achieve internationalization and networking, thereby constructing an ecosystem for incubation of the ‘Internet+ education’ business. In the future, Cybernaut International will target mainly first-tier cities such as Beijing, Tianjin, Hangzhou and Chengdu, looking to acquire quality projects and inject into them Cybernaut International’s cutting-edge technology and capital, and ultimately bring long-term revenues to the Company.”

As for the business of “Innovative Technology Finance,” Mr. Wang Yang, Joint Chief Executive Officer of Cybernaut International, said, “The Company will take reference to proven models such as that of Silicon Valley Bank in the US, and push to integrate technological innovations and finance centering around the big cloud infrastructure and Internet+. At the same time, on the back of Mr. Zhu Min’s hundred-billion-dollar parent fund held under Cybernaut Investment in Mainland China and the high liquidity capital market in Hong Kong, we will build a new industry ecological alliance to drive our innovative technology finance.”

Mr. Wang was former Global Vice President of IBM, responsible for R&D of cloud computing, Big Data and AI. He is also the Vice Chairman of the Big Data Expert Committee of China and the National Cloud Computing Expert Committee in China.

Mr. Zhu Min concluded, “Looking ahead, Cybernaut International will work in sync with Cybernaut Investment in mainland China, lean on the latter’s extensive management funds and successful investment experience, as well as the reach of the international listing platform in Hong Kong to effectively consolidate resources and develop the new businesses of ‘Internet+ education’ and ‘innovative technology finance,’ so that the Company will have diverse income sources for boosting financial performance and maximizing returns for shareholders.”