On 31 December 2019, Sino-i Technology Limited and Nan Hai Group entered into the Nan Hai Information Service Framework Agreement. Pursuant to the Nan Hai Information Service Framework Agreement, the Company agreed to provide (or procure its subsidiaries to provide) certain information products and services to Nan Hai Group, including enterprise postal services, office internet connection services, server co-location, ISP (internet service provider), IDC (internet data center) related services, cloud services and cloud value-added services, software technology and development and other technical services. The Company and/or its subsidiaries will enter into individual information service agreements with members of Nan Hai Group, setting out specific terms including term, consideration for the information products and services and payment terms. Such terms will be consistent with the principles and terms of the Nan Hai Information Service Framework Agreement. The Nan Hai Information Service Framework Agreement will be effective for a term of three years commencing from 1 January 2020 to 31 December 2022 (both days inclusive). The exact term of each individual information service agreement to be entered into under the Nan Hai Information Service Framework Agreement will be determined by each individual agreement.