In May 2022, Grandshores Technology obtained the licenses from Securities and
Futures Commission for conducting Type 4 (advising on securities) and Type 9
(asset management) regulated activities as defined in Schedule 5 to the Securities
and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). The Group is set
to steadily allocate resources to develop new financial services business, including
asset management and other financial services. Meanwhile, the Group is actively
exploring opportunities and to realize the synergy with the existing businesses of the Group.