Cloopen Announces Formation of Special Committee

Rhea-AI Summary

Cloopen Group Holding Limited (OTC: RAASY) announced that its Board has formed a special committee of three independent directors—Adam J. Zhao (chair), Tim Yimin Liu and Ziguang Gao—to evaluate a preliminary non-binding proposal dated December 22, 2025.

The Board cautioned that no decisions have been made, there is no assurance a definitive offer or agreement will be received or executed, and the transaction may not be approved or consummated. The company also stated it does not undertake to provide updates except as required by law.

Positive

• Special committee formed of three independent directors
• Adam J. Zhao named chair of the special committee

Negative

• Proposal is preliminary and non-binding (dated December 22, 2025)
• No assurance that a definitive offer, agreement, or transaction will occur
• No obligation to provide further updates except as required by law

BEIJING, Dec. 29, 2025 /PRNewswire/ -- Cloopen Group Holding Limited (OTC: RAASY) ("Cloopen" or the "Company") today announced that its Board of Directors (the "Board") has formed a special committee consisting of three independent directors, Mr. Adam J. Zhao, Mr. Tim Yimin Liu and Mr. Ziguang Gao, to evaluate and consider the previously announced preliminary non-binding proposal letter dated December 22, 2025 (the "Proposal"). Mr. Adam J. Zhao chairs the special committee.

The Board cautions the Company's shareholders and others considering trading the Company's securities that no decisions have been made with respect to the Proposal. There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the transaction contemplated by the Proposal, or that the transaction contemplated by the Proposal or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to any transaction, except as required under applicable law.

About Cloopen Group Holding Limited

Cloopen Group Holding Limited is a leading multi-capability cloud-based communications solution provider in China offering a full suite of cloud-based communications solutions, covering communications platform as a service (CPaaS), cloud-based contact centers (cloud-based CC), and cloud-based unified communications and collaborations (cloud-based UC&C). Cloopen's mission is to enhance the daily communication experience and operational productivity for enterprises. Cloopen aspires to drive the transformation of enterprise communications industry by offering innovative marketing and operational tactics and SaaS-based tools.

For more information, please visit https://ir.yuntongxun.com.

Forward-Looking Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Cloopen may also make written or oral forward-looking statements in its reports filed with or furnished to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Cloopen's beliefs and expectations as well as its financial outlook, are forward-looking statements. These forward-looking statements are based on Cloopen's current expectations and involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in Cloopen's filings with the SEC. All information provided in this press release is current as of the date of the press release, and Cloopen does not undertake any obligation to update such information, except as required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement, and you are cautioned not to place undue reliance on these forward-looking statements.

For investor and media inquiries, please contact:
Cloopen Group Holding Limited
Investor Relations
Email: ir@yuntongxun.com

View original content:https://www.prnewswire.com/news-releases/cloopen-announces-formation-of-special-committee-302650151.html

SOURCE Cloopen Group Holding Limited

FAQ

What did Cloopen (RAASY) announce on December 29, 2025 about a special committee?

Cloopen announced formation of a three-member special committee chaired by Adam J. Zhao to evaluate a preliminary non-binding proposal dated December 22, 2025.

Who are the members of Cloopen's special committee for the December 22, 2025 proposal?

The special committee members are Adam J. Zhao (chair), Tim Yimin Liu, and Ziguang Gao.

Does Cloopen (RAASY) guarantee the transaction from the December 22, 2025 proposal will happen?

No. The company warned that no decisions have been made and there is no assurance a definitive offer or agreement will be received or approved.

Will Cloopen provide ongoing updates about the proposal evaluated by the special committee?

The company said it does not undertake to provide updates except as required under applicable law.

What is the purpose of Cloopen's special committee formed December 29, 2025?

The committee was formed to evaluate and consider the previously announced preliminary non-binding proposal dated December 22, 2025.