On January 3, 2020, FutureX Capital Limited submitted a letter to the board of directors of Gridsum Holding Inc. to withdraw its preliminary non-binding proposal dated May 8, 2018, with immediate effect. FutureX Capital also wishes to note that it does not intends to join the consortium referenced in the preliminary non-binding proposal letter, dated July 15, 2019, from Guosheng Qi and certain other persons to the Board or otherwise participate in the going private transaction described therein.