On October 17, 2023 the Company and G-bits entered into the 2023 Property Leasing and Administrative Services Framework Agreement for the Group to continue to use certain properties owned by G-bits as office premises and certain ancillary office administrative services (including but not limited to environmental sanitation, security management services, site hardware and equipment for offices and the maintenance and repair of its site hardware and equipment) provided by G-bits with regards to these office premises for a term of three financial years commencing from January 1, 2024 to December 31, 2026. Pursuant to the 2023 Property Leasing and Administrative Services Framework Agreement, G-bits and/or its subsidiaries shall lease to the Group office premises in an office building located in Xiamen, the PRC with an aggregate gross area of approximately 2,187.49
square meters as office premises and provide to the Group ancillary office administrative services for these office premises. The Group may increase or decrease rental property space from G-bits or its subsidiaries in accordance with the actual demand of the Group. The Company and its subsidiaries as tenants on the one part and G-bits and its subsidiaries as landlords on the other part shall enter into separate lease and administrative services
agreements and comply with the principles and conditions provided in the 2023 Property Leasing and Administrative Services Framework Agreement.