Simplicity Holding Limited (SEHK:8367) entered into a MOU to acquire Shanghai Juan Ming Shiye Co., Ltd from Shanghai Juan Shen Shiye Co., Ltd on May 10, 2024. Under the MOU, the Vendor shall not directly or indirectly negotiate or agree with any other party relating to the proposed acquisition or do anything which is inconsistent with the Proposed Acquisition for a period of 180 days from the date of the MOU. The proposed acquisition is subject to the negotiation and execution of a formal sale and purchase agreement between the parties.