Huobi Technology Holdings Limited (“Huobi Tech” or the “Company”, stock code: 1611.HK) is pleased to announce that on 22 September 2021, the Company and Division on Investment and Enterprise of Kyrgyz Republic (“DIAE”) entered into a non-legally binding memorandum of understanding (the “MOU”) in relation to a potential business cooperation in Kyrgyz Republic, pursuant to which DIAE and the Company agree to cooperate on the basis of equality, goodwill, respect and trust to implement cryptocurrency exchange projects, develop mutually beneficial business partnerships and contribute to the digital economy development of Kyrgyz Republic.

Under the MOU, the parties intend to leverage their respective resources and enter into definitive agreements concerning the potential business cooperation contemplated under the MOU to bring strong synergy to the parties' future businesses.

The Board considers that the entering into of the MOU is in line with the Company's business goal and is in the interests of the Company and the shareholders of the Company as a whole. The potential business cooperation contemplated under the MOU, if materialised, presents good business opportunities in Kyrgyz Republic, enables the Company to expand its business into Central Asia market and diversifies its client and business operations.

Huobi Tech will firmly maintain its layout of blockchain and virtual assets and continue to actively apply for virtual asset and finance-related licenses in major markets around the world to accelerate the process of compliance. Huobi Tech is committed to becoming the leading one-stop virtual asset service platform in Asia. Looking forward, the Company will continue to explore, develop and improve a new generation of compliant products and services system tailored to the demands of institutions. The Company believes that its persistence in long-termism and strategy of business diversity will generate long-term and sustainable returns for the shareholders in the future.