Qidian International : DELAY IN DESPATCH OF CIRCULAR

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(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1280)

DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement of Qidian International Co., Ltd (the "Company") dated 7 April 2021 (the "Announcement") in relation to the connected transaction under the loan capitalisation through Subscription of new Shares under specific mandate and the proposed Authorised Share Capital Increase. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context requires otherwise.

As disclosed in the Announcement, a circular (the "Circular") containing, among other things, (i) details of the Subscription and Capitalisation Agreement; (ii) the recommendation from the Independent Board Committee in respect of the Subscription and Capitalisation Agreement and the transactions contemplated thereunder; (iii) the letter of advice from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders in respect of the Subscription and Capitalisation Agreement and the transactions contemplated thereunder; (iv) further details of the Authorised Share Capital Increase; and (v) the notice of the EGM, was expected be despatched to the Shareholders as in accordance with the Listing Rules on or before 28 April 2021.

As additional time is required to finalise certain information to be included in the Circular, it is currently expected that the despatch date of the Circular will be postponed to a date on or before 20 May 2021.

By Order of the Board

Qidian International Co., Ltd

Yuan Li

Chairman

Yangzhou, PRC, 28 April 2021

As at the date of this announcement, the Board of Directors of the Company comprises four executive Directors, namely Mr. Yuan Li, Mr. Xu Xinying, Ms. Liu Simei, and Mr. Sun Lejiu, one non-executive Director, namely Ms. Xu Honghong and three independent non-executive Directors, namely Mr. Zhao Jinyong, Mr. Chen Rui and Mr. Fung Tak Choi.