TB Alternative Assets Ltd. → Cloopen Group Holding Limited RAASY

Item 4 of the Schedule 13D is hereby supplemented by adding the following: On May 22, 2026, for the purpose of streamlining the holding structure in connection with the Transactions, Tencent caused THL H Limited to transfer 1,249,998 Class A Ordinary Shares to Image Frame as an internal reorganization for no consideration (the "Internal Transfer"). The Internal Transfer was effected as a private, off-market transaction between affiliates, following which Image Frame directly holds an aggregate of 13,049,682 Class A Ordinary Shares, all of which are subject to the Support Agreement. On July 30, 2026, AutumnX Holdings Limited ("HoldCo") entered into separate joinder agreements with each of Mirae Asset LP and Mirae Asset Growth 1, respectively (each, a "Joinder Agreement" and collectively, the "Joinder Agreements"), pursuant to which each of Mirae Asset LP and Mirae Asset Growth 1 acknowledged, agreed and confirmed that it would be deemed to be a party to, and a Rollover Shareholder and a Supporting Shareholder under, the Support Agreement as of the date thereof, and would have all rights and obligations of a Rollover Shareholder and a Supporting Shareholder as if it had executed the Support Agreement. For the purposes of the Statement, and where the context so provides, all references to the "Rollover Shareholders" shall be deemed to include Mirae Asset LP and Mirae Asset Growth 1. On July 30, 2026, SpringX Holdings Limited ("Parent") and China Merchants Bank Co., Ltd. Shanghai Branch (the "New Lender") entered into a debt commitment letter (the "New Debt Commitment Letter"). Under the terms and subject to the conditions of the New Debt Commitment Letter, the New Lender has committed to underwrite, provide and fund a term loan facility up to RMB 300,000,000 to fund the Transactions. In connection with the execution of the New Debt Commitment Letter, on July 31, 2026, Parent delivered a notice to China Minsheng Banking Corp., Ltd. Shanghai Pilot Free Trade Zone Branch (the "Prior Lender") terminating the debt commitment letter, dated as of May 12, 2026 (the "Prior Debt Commitment Letter"), by and between Parent and the Prior Lender pursuant to the terms thereof. As a result of the execution of the New Debt Commitment Letter and the termination of the Prior Debt Commitment Letter, the Transactions will be funded through a combination of (a) cash contributions contemplated by the Equity Commitment Letters, (b) proceeds from a committed term loan facility contemplated by the New Debt Commitment Letter, and (c) the contribution of Ordinary Shares by the Rollover Shareholders to HoldCo pursuant to the Support Agreement (the "Rollover Shares"), which Rollover Shares will be cancelled and cease to exist without payment of any consideration or distribution therefor. The information disclosed in this Item 4 does not purport to be complete and is qualified in its entirety by reference to the New Debt Commitment Letter, a copy of which is attached hereto as Exhibit 99.20, and which is incorporated herein by reference in its entirety.