On October 20, Kuaidou Taxi announced on the Hong Kong Stock Exchange. The company's board of directors noticed that several media and online platforms in mainland China recently reported that “Fast Dog Taxi” will withdraw from the mainland China market or terminate its business in the mainland China market after the sale. The Board wishes to clarify that these reports do not accurately reflect the circumstances of the sale. The sale is the sale of the company's shares in the target company to the buyer. It only involves a change in the ownership of the target group, and does not involve any termination, liquidation or relocation of the target group's business in mainland China. After completion, the target group will no longer be part of the Group, but will continue to operate its existing business in mainland China under the buyer's ownership, including an online same-city logistics platform operated under the “Fast Dog Taxi” brand. The sale is not expected to affect the services provided by the target group to its users, customers and logistics partners in mainland China. According to the buyer, such services will continue as usual in the course of daily business. At the date of this announcement, the Board was unaware of any intention of the buyer to terminate the target group's business.

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