Jack Vander Aarde

- Token Cat Limited will hold an **Extraordinary General Meeting** on **October 13, 2025**, to approve the **sale of 100% equity interest** in its subsidiaries (Targets) for a **nominal cash consideration of $1**.  **[1743340_0001213900-25-088651_ea0256728-6k_token.htm:0]** **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:0]**  This strategic disposition is intended to allow the Company to focus on its **high-growth cryptocurrency business**.  **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:3]** 
- The meeting will also seek approval for the Company's **2025 Equity Incentive Plan**, which authorizes an aggregate of **1,237,314,318 Class A Ordinary Shares** to be available for awards over a ten-year term.  **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:0]** **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:5]** 
- The Board of Directors **unanimously recommends a vote "FOR" both proposals**.  **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:1]** **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:4]** **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:6]** 
- Shareholders of record as of **September 3, 2025**, are eligible to vote at the meeting.  **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:0]** **[1743340_0001213900-25-088651_ea025672801ex99-1_token.htm:1]**

Token Cat Limited to Hold Extraordinary General Meeting on October 13, 2025

- TokenCat Limited reported a net loss of **RMB0.7 million (US$0.1 million)** for the six months ended June 30, 2025, a significant reduction from **RMB40.7 million** in the same period of 2024.  **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:0]** **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:1]** 
- Net revenues decreased by **38.8%** to **RMB19.8 million (US$2.8 million)** for the six months ended June 30, 2025, compared to **RMB32.3 million** in the prior year period.  **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:1]** **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:2]** 
- Net cash used in operating activities increased substantially to **RMB169.5 million (US$23.7 million)** for the six months ended June 30, 2025, from **RMB11.1 million** in the corresponding period of 2024.  **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:4]** 
- As of June 30, 2025, the company held **RMB1.1 million (US$0.2 million)** in cash and cash equivalents and reported an accumulated deficit of **RMB1,421.8 million (US$198.5 million)**.  **[1743340_0001213900-25-087695_ea025544101ex99-1_token.htm:1]** **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:4]** 
- Management has expressed **substantial doubt about the Group’s ability to continue as a going concern** due to recurring operating losses, weak economic growth in China, and staff resignations.  **[1743340_0001213900-25-087695_ea025544101ex99-3_token.htm:4]** **[1743340_0001213900-25-087695_ea025544101ex99-1_token.htm:8]**

Token Cat (TC)