Code Chain New Continent Limited (the “Company”) on October 1, 2021, the Company entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Shenzhen Jindeniu Electronics Limited (the “Seller”) on September 27, 2021, pursuant to which the Company agreed to purchase from the Seller certain storage servers for cloud computing, for a total purchase price of USD 15,922,303. On March 7, 2022, the Company terminated the Asset Purchase Agreement. Considerations to the transaction, including advanced payments by the company, have been returned to respective parties and the transaction is deemed void.