Cloopen Group Holding Limited (RAAS)

BEIJING , Sept. 3, 2025 /PRNewswire/ -- Cloopen Group Holding Limited (OTC: RAASY) ("Cloopen" or the "Company") today announced that it filed its annual report on Form 20-F (the "Annual Report") for the fiscal year ended December 31, 2024 with the U.S. Securities and Exchange Commission (the "SEC") on September 3, 2025.

BEIJING , March 24, 2025 /PRNewswire/ -- Cloopen Group Holding Limited (OTC: RAASY) ("Cloopen" or the "Company") today announced that it filed its annual report on Form 20-F (the "Annual Report") for the fiscal year ended December 31, 2023 with the U.S. Securities and Exchange Commission (the "SEC") on March 24, 2025. The annual report on Form 20-F, which contains the Company's audited financial statements, can be accessed on the SEC's website at http://www.sec.gov as well as via the Company's investor relations website at https://ir.yuntongxun.com.

Singapore, Nov. 27, 2024 (GLOBE NEWSWIRE) -- SIMPPLE Ltd. (Nasdaq: SPPL, “SIMPPLE” , “the Company”), a leading technology provider and innovator in the integrated facilities management sector, today announced that its Singapore subsidiary had signed a partnership agreement with Bangkok-based RAAS PAL Co., Ltd. to distribute Internet-of-Things (IoT) sensors, robotics and the flagship SIMPPLE Software platform across Thailand.

BEIJING , Aug. 27, 2024 /PRNewswire/ -- Cloopen Group Holding Limited (OTC: RAASY) ("Cloopen" or the "Company") today announced that it filed its annual report on Form 20-F (the "Annual Report") for the fiscal year ended December 31, 2022 with the U.S. Securities and Exchange Commission (the "SEC") on August 27, 2024. The annual report on Form 20-F, which contains the Company's audited financial statements, can be accessed on the SEC's website at http://www.sec.gov as well as via the Company's investor relations website at https://ir.yuntongxun.com.

Commission declines to impose civil penalties because of company's self-reporting, cooperation and remediation Washington, D.C.--(Newsfile Corp. - February 6, 2024) - The Securities and Exchange Commission today announced settled accounting fraud charges against Cloopen Group Holding Limited, a China-based provider of cloud communications products and services whose American depositary shares formerly traded on the New York Stock Exchange.

Cloopen is unprofitable and in a horrible business. Cloopen was exposed to fraud.

RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Cloopen Group Holding Limited (“Cloopen”) (NYSE: RAAS). The action charges Cloopen with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Cloopen’s materially misleading statements to the public, Cloopen investors have suffered significant losses. TO VIEW OUR VIDEO, PLEASE CLICK HERE CLICK HERE TO SUBMIT YOUR CLOOPEN LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/cloopen-class-action-lawsuit?utm_source=PR&utm_medium=link&utm_campaign=cloopen LEAD PLAINTIFF DEADLINE: February 8, 2022 CLASS PERIOD: February 9, 2021 through May 10, 2021 CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS: James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at info@ktmc.com CLOOPEN’S ALLEGED MISCONDUCT Cloopen provides cloud-based communications solutions which allow application programing interfaces and software development kits to embed messaging, voice call, audio and video, instant messaging, and other communications into enterprises' applications, services, and/or business processes. On February 9, 2021, Cloopen conducted its initial public offering ("IPO"), selling 23 million American Depositary Shares ("ADSs") at $16.00 per ADS. Then, on March 26, 2021, Cloopen published its 2020 fourth quarter financial results for the period ending December 31, 2020. Cloopen reported revenues of only $39.6 million ($2 million short of analysts’ consensus), as well as net losses of $46.8 million (a 466.9% increase year-over-year), and operating expenses of $27.6 million (a 30% increase over the fourth quarter of 2019). In response to its alarming net loss, Cloopen blamed a "change in fair value of warrant liabilities of . . . US$34.4 million." With regard to its 59.2% increase in general and administrative expenses, Cloopen claimed "an increase in the provision for doubtful accounts resulting from increased in accounts receivables.” Following this news, Cloopen's ADS price fell $2.67 per ADS, or 18.52%, to close at $11.75 per ADS on March 26, 2021. Then, on May 10, 2021, Cloopen’s share price fell again when the company filed its 2020 annual report and revealed for the first time that its dollar-based net customer retention rate for recurring solutions had fell from 102.7% in 2019 to 86.8% by year end 2020. Following this news, Cloopen's ADS price fell $0.62 per ADS, or 6.47%, to close at $8.97 per ADS on May 12, 2021. WHAT CAN I DO? Cloopen investors may, no later than February 8, 2022, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Cloopen investors who have suffered significant losses to contact the firm directly to acquire more information. CLICK HERE TO SIGN UP FOR THE CASE WHO CAN BE A LEAD PLAINTIFF? A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. At the end of the day, we have succeeded if the bad guys pay up, and if you recover your assets. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Cloopen Group Holding Limited (“Cloopen” or the “Company”) (NYSE: RAAS) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Cloopen securities pursuant and/or traceable to the February 9, 2021 IPO or between February 9, 2021 and May 10, 2021, both dates included, (the “Class Period”). Investors have until February 8, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. Cloopen claims to be the largest multi-capability cloud-based communications solution provider in China. In its February 2021 United States IPO, Cloopen sold 23 million ADSs (including the full exercise of the underwriter defendants’ over-allotment option) at $16 per ADS, netting approximately $342 million in proceeds from the offering. The Cloopen class action lawsuit alleges that the Registration Statement led Cloopen ADS purchasers to believe that Cloopen’s much-touted growth strategy, which relied upon cross-selling, up-selling, optimizing existing solutions, and developing new features, was effective. Indeed, as portrayed in the Registration Statement, Cloopen appeared to be retaining and even expanding its customer base, as well as maintaining its key sales metrics such as dollar-based net retention rate, which reflected its ability to increase existing customer revenue. Yet, Cloopen’s representations concerning its successful growth strategy were materially false and misleading. In fact, as the Cloopen class action lawsuit alleges, Cloopen’s growth strategy was not working and its existing customers were abandoning the company. The Cloopen class action lawsuit further alleges that Cloopen’s Registration Statement failed to disclose that an increasing number of its customers were refusing to pay, forcing Cloopen to record massive increases in its accounts receivables and allowance for doubtful accounts. The Registration Statement also allegedly failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently-granted warrants. On March 26, 2021, just over six weeks after its IPO, Cloopen reported fourth quarter of 2020 revenues of just $39.6 million – $2 million shy of analysts’ consensus – net losses of $46.8 million, representing a 466.9% increase year-over-year, and operating expenses of $27.6 million, representing a 30% increase over fourth quarter of 2019. Cloopen blamed a "change in fair value of warrant liabilities of . . . $34.4 million" for Cloopen’s remarkable net loss and "an increase in the provision for doubtful accounts resulting from increased in accounts receivables" for the 59.2% increase in general and administrative expenses. On this news, the price of Cloopen’s ADSs fell by more than 18%. Weeks later, as Cloopen belatedly revealed additional facts about its failed growth strategy and withering customer base, including that its dollar-based net retention rate by year end 2020 fell far below historical periods, Cloopen’s share price fell again. At the time the Cloopen class action lawsuit was commenced, Cloopen’s share price has dropped as low as $2.70 per ADS, a decline of more than 80% from the $16 IPO price. If you purchased or otherwise acquired Cloopen shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming February 8, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Cloopen Group Holding Limited (“Cloopen” or the “Company”) (NYSE: RAAS): (a) American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s February 2021 initial public offering (“IPO” or the “Offering”); and/or (b) securities between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”). If you are a shareholder who suffered a loss, click here to participate. In February 2021, Cloopen conducted its IPO, selling 23 million ADSs at $16 per ADS. On March 26, 2021, Cloopen released its 2020 fourth quarter financial results for the period ending December 31, 2020 – more than a month before the IPO. Cloopen reported revenues of $39.6 million, $2 million short of analysts’ consensus, as well as net losses of $46.8 million (a 466.9% year-over-year increase), and operating expenses of $27.6 million (a 30% year-over-year increase). On this news, Cloopen’s shares fell $14.42, or 18.5%, to close at $11.75 per ADS on March 26, 2021. On May 10, 2021, Cloopen filed its 2020 annual report, revealing that its dollar-based net customer retention rate for recurring solutions fell from 102.7% in 2019 to 86.8% in 2020, which meant that Cloopen’s purportedly “loyal” customer base was not “expand[ing]” into additional solutions and the Company’s growth strategy was not effective. On this news, Cloopen’s shares closed at $8.97 per ADS on May 12, 2021. Since the IPO, Cloopen’s ADSs have traded as low as $2.70 per ADS, an 80% decline from the $16 IPO price. The complaint filed in this class action alleges that the Registration Statement made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Cloopen’s “land and expand” strategy was failing and its customer base deteriorating; (2) the Company’s dollar-based net retention rate was not “stable,” but rather had dropped significantly by the end of 2020; (3) at the time of the IPO, an increasing number of customers were not paying Cloopen for the services and/or solutions it provided, forcing Cloopen to recognize massive increases in its accounts receivable and its allowance for doubtful accounts; (4) because Cloopen had valued certain warrants at extremely low levels, the Company would recognize massive additional costs associated with those warrants; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Follow us for updates on Twitter: twitter.com/FRC_LAW. If you purchased or otherwise acquired Cloopen ADSs during the Class Period, you may move the Court no later than February 8, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Cloopen Group Holding Limited (“Cloopen” or “the Company”) (NYSE: RAAS) violations of the federal securities laws. Investors who purchased the Company's American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s initial public offering conducted in February 2021 (the “IPO”), or between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”), are encouraged to contact the firm before February 8, 2022. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Cloopen’s so-called “land and expand” strategy was failing to attract customers. The Company was far from maintaining a “stable” net retention rate. The Company suffered an increasing number of customers who weren’t paying for its services at the time of the IPO, resulting in massive increases in its accounts receivable. Based on these facts, the Company’s public statements and IPO materials were false and materially misleading throughout the class period. When the market learned the truth about Cloopen, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cloopen Group Holding Limited (NYSE: RAAS): (i) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 initial public offering (the “IPO”); and/or (ii) between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”), of the important February 8, 2022 lead plaintiff deadline. SO WHAT: If you purchased Cloopen securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Cloopen class action, go to http://www.rosenlegal.com/cases-register-2223.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 8, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, the Registration Statement was false and misleading and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Cloopen’s growth strategy was not working; (2) Cloopen’s existing customers were abandoning the Company; (3) an increasing number of Cloopen’s customers were refusing to pay; (4) as a result, the Company was forced to record massive increases in its accounts receivables and allowance for doubtful accounts; (5) Cloopen was weighed down by huge liabilities related to the fair value of certain recently-granted warrants; (6) defendants continued to misrepresent the Company's expansion strategy; and (7) Cloopen's dollar-based net retention rate had tumbled in 4Q 2020. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Cloopen class action, go to http://www.rosenlegal.com/cases-register-2223.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome.

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Cloopen Group Holding Limited (“Cloopen” or “the Company”) (NYSE: RAAS) violations of the federal securities laws. Investors who purchased the Company's American Depositary Shares (“ADSs”) pursuant and/or traceable to the Company’s initial public offering conducted in February 2021 (the “IPO”), or between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”), are encouraged to contact the firm before February 8, 2022. If you are a shareholder who suffered a loss, click here to participate. We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com. The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member. According to the Complaint, the Company made false and misleading statements to the market. Cloopen’s so-called “land and expand” strategy was failing to attract customers. The Company was far from maintaining a “stable” net retention rate. The Company suffered an increasing number of customers who weren’t paying for its services at the time of the IPO, resulting in massive increases in its accounts receivable. Based on these facts, the Company’s public statements and IPO materials were false and materially misleading throughout the class period. When the market learned the truth about Cloopen, investors suffered damages. Join the case to recover your losses. The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

BEIJING, Jan. 12, 2022 /PRNewswire/ -- Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company"), a leading multi-capability cloud-based communications solution provider in China, today announced that the Company will host its virtual investor conference on Tuesday, January 18, 2022 at 9:00am Beijing time/ Monday, 8:00pm on January 17, 2022 EST. The call will include presentations and FAQs led by Steven Li, Cloopen's Chief Financial Officer to discuss the Company's latest business developments, market opportunity and future growth plan.

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Cloopen Group Holding Limited (“Cloopen” or the “Company”) (NYSE: RAAS) (a) American Depositary Shares (“ADSs”) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 initial public offering (the “IPO”); and/or (b) Cloopen securities from February 9, 2021 through May 10, 2021, inclusive (the “Class Period”). Investors have until February 8, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Cloopen is the largest multi-capability cloud-based communications solution provider in China. The Company purportedly is the only Chinese provider that offers 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 serves a diverse and loyal customer base consisting of enterprises of all sizes across a variety of industries, including internet, telecommunications, financial services, education, industrial manufacturing, and energy. On March 26, 2021, just over six weeks after its IPO, Cloopen shocked the market when it published its 4Q 2020 and FY 2020 financial results, for periods that closed on December 31, 2020, more than a month before the IPO. Cloopen reported 4Q 2020 revenues of just $39.6 million, $2 million shy of analysts’ consensus, net losses of $46.8 million, representing a staggering 466.9% increase year-over-year, and operating expenses of $27.6 million, representing a 30% increase over 4Q 2019. Cloopen blamed a “change in fair value of warrant liabilities of . . . US$34.4 million” for Cloopen’s remarkable net loss and “an increase in the provision for doubtful accounts resulting from increased accounts receivables” for the 59.2% increase in general and administrative expenses. On this news, the price of Cloopen’s ADSs declined by $2.67 per ADS, or approximately 18.52%, from $14.42 per ADS to close at $11.75 per ADS on March 26, 2021. On May 10, 2021, after the market closed, Cloopen filed its Annual Report on SEC Form 20-F, revealing additional facts about its failed growth strategy and withering customer base, including that its dollar-based net retention rate by year end 2020 fell far below historical periods. The lawsuit alleges throughout the Class Period, the Registration Statement failed to disclose Cloopen’s growth strategy was allegedly not working, and its existing customers were abandoning the Company. It further alleges that the Registration Statement failed to disclose that an increasing number of Cloopen’s customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts, and that the Registration Statement also allegedly failed to disclose that Cloopen was weighed down by huge liabilities related to the fair value of certain recently-granted warrants. If you purchased or otherwise acquired Cloopen ADSs, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

NEW YORK--(BUSINESS WIRE)--Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cloopen Group Holding Limited ("Cloopen " or the "Company") (NYSE: RAAS) and certain of its officers, on behalf of shareholders who (a) purchased or otherwise acquired Cloopen American Depositary Shares ("ADSs") pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with the Company's February 2021 initial public offering (the "IPO"); and/or (b) purchased or otherwise acquired Cloopen securities during the Class Period. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/raas. This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933 and the Securities Exchange Act of 1934. The Complaint alleges that the Registration Statement for the IPO was negligently prepared and, as a result, contained materially false and misleading statements of fact and failed to disclose facts required to be disclosed therein under the rules and regulations governing its preparation. Specifically, the Registration Statement: (2) led Cloopen ADS purchasers to believe that the Company's much-touted growth strategy, which relied upon cross-selling, up-selling, optimizing existing solutions, and developing new features, was effective. Indeed, as portrayed in the Registration Statement, Cloopen appeared to be retaining and even expanding its customer base, as well as maintaining its key sales metrics such as dollar-based net retention rate, which reflected its ability to increase existing customer revenue. In truth, Cloopen's growth strategy was not working, and its existing customers were abandoning the Company. Unbeknownst to investors, Cloopen's dollar based net retention rate had plummeted during the fourth quarter of 2020 ("4Q 2020"); (2) failed to disclose that an increasing number of its customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts; and (iii) also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently granted warrants. The Complaint further alleges that Cloopen's most senior officers continued to make materially false and misleading statements to the market and failed to reveal the true extent of Cloopen's troubles. In the March 26, 2021 earnings announcement and investor conference call, Cloopen's senior executives continued to misrepresent the Company's expansion strategy, again failing to acknowledge that the strategy was failing, and its existing customer base was deteriorating. A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/raas or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Cloopen you have until February 8, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Cloopen Group Holding Limited (NYSE: RAAS): (i) pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 initial public offering (the “IPO”); and/or (ii) between February 9, 2021 and May 10, 2021, inclusive (the “Class Period”), of the important February 8, 2022 lead plaintiff deadline. SO WHAT: If you purchased Cloopen securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Cloopen class action, go to http://www.rosenlegal.com/cases-register-2223.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 8, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers DETAILS OF THE CASE: According to the lawsuit, the Registration Statement was false and misleading and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Cloopen’s growth strategy was not working; (2) Cloopen’s existing customers were abandoning the Company; (3) an increasing number of Cloopen’s customers were refusing to pay; (4) as a result, the Company was forced to record massive increases in its accounts receivables and allowance for doubtful accounts; (5) Cloopen was weighed down by huge liabilities related to the fair value of certain recently-granted warrants; (6) defendants continued to misrepresent the Company's expansion strategy; and (7) Cloopen's dollar-based net retention rate had tumbled in 4Q 2020. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Cloopen class action, go to http://www.rosenlegal.com/cases-register-2223.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/. Attorney Advertising. Prior results do not guarantee a similar outcome.