The board of directors of China Fordoo Holdings Limited announced that the Company and Holistic Asset Finance Group Co., Ltd. entered into a letter of intent on 2 September 2020, pursuant to which the parties agreed to explore opportunities for possible cooperation in the area of financial supply chain management services, including but not limited to the development of financial assets management application(s) and the provision of related services. The term of the Letter of Intent is one year and can be extended upon mutual consent. Save for certain provisions relating to, among others, governing laws and jurisdiction, the Letter of Intent will not constitute any legally binding commitment between the parties thereto.