The board of directors of the Edvance International Holdings Limited announced that a wholly foreign owned enterprise, unofficial English name for identification purpose, Edvance Information Technology Development (Shenzhen) Co. Ltd. has been established in the Greater Bay Area of the People's Republic of China on 28 December 2018. The newly established WFOE aims to introduce leading cyber security technology from the PRC to be integrated into existing platform and to offer more cost-effective cyber security services to meet market demands.