Item 1.01 Entry into a Material Definitive Agreement.
On September 30, 2020 FHT Future Technology Limited.'s wholly owned subsidiary
Xiamen Zhenghe Xing Neng Digital Technology Co Limited entered into a Digital
Analysis Services Agreement with an independent third party, namely Wise &
Newlife Pte Ltd.
As per the terms of the agreement, the subsidiary will provide digital analysis
and technical services via SHA256 to Wise & Newlife Pte Ltd. The contract amount
is USD$500,000 and service period is from September 30, 2020 to August 31, 2021.
The Board believes that the Digital Analysis Service Agreement will provide the
Group with the opportunity to leverage on its extensive experience in China
Digital business. The Board also believes that it could expand the Group's
business scope, broaden income sources and enhance its financial performance, as
well as in the interests of the Company and its shareholders.
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