Gridsum Holding Inc. announced that, in response to the non-binding proposal from FutureX Capital Limited received by the company's Board of Directors on May 8, 2018 (the proposal), the Board of Directors of the company has formed a special committee (the Special Committee) comprised of the three independent directors Mr. Peter Andrew Schloss, Mr. Xudong Gao and Mr. Thomas A. Melcher, to evaluate the proposal and any other alternative transactions. Mr. Schloss has been appointed as Chairman of the Special Committee.