Recent Updates — RAASY

Cloopen Group Holding Limited completed its merger with SummerX Holdings Limited, a wholly-owned subsidiary of AutumnX Holdings Limited, pursuant to the agreement dated May 12, 2026. As a result, Cloopen has become a wholly-owned subsidiary and will cease public trading on the OTC Market. Each American Depositary Share is cancelled in exchange for US$2.9641 per ADS, while each ordinary share receives US$0.4940 in cash. The company intends to file Form 15 with the SEC to deregister its securities and suspend reporting obligations under the Securities Exchange Act of 1934. Cloopen Group Holding Limited is a leading multi-capability cloud-based communications solution provider in China.

Cloopen Group Holding Limited announced that shareholders approved the previously announced Agreement and Plan of Merger with SpringX Holdings Limited at an extraordinary general meeting on September 24, 2026. The vote passed with approximately 99.98% support. Upon completion, Cloopen will become a wholly-owned subsidiary of HoldCo, cease to be publicly traded, and terminate its ADS program. This transaction represents a significant corporate restructuring event that fundamentally alters the company's ownership structure and listing status. Cloopen Group Holding Limited operates in the cloud communications technology industry, providing CPaaS, contact center, and unified communications solutions.