Can't pair brand new Yeelight Color Bulb (V2) - It shows Connection Timed Out every time it reaches 100%

I got a Yeelight color bulb V2 yesterday and since then I simply cannot pair it with my phone.

I tried using every server, tried to pair it with a different phone, tried using a second phone as a Wi-Fi hotspot, restarted my modem, changed DNS adress to Google’s (8.8.8.8), restarted the bulb about two dozen times, nothing works. It still shows Connection Timed Out as soon as it reaches 100% when I try to pair it with the Yeelight app. The Mi Home app can’t even detect the bulb when I try to pair it.

And yes, the bulb’s working. It can be found in my router’s list of devices hooked to WLAN and it shows in my phone’s list of Wi-Fi access points. My phone is Xiaomi Mi MIX 2 with MIUI Global 10.4.1 and my Mi account ID is 1820649346

Can someone please help me solve the issue?