MINDTELL TECH (08611) has signed a letter of intent with Geng Nan and Zhao Baoqin, and may acquire all the equity of Henan Lixuan Network.

MINDTELL TECH (08611) announced that on January 22, 2025 (after trading hours), the company entered into an intention letter with Mr. Geng Nan and Ms. Zhao Baoqin regarding potential cooperation discussions. According to the terms of the intention letter, the possible cooperation may include but is not limited to the acquisition of all equity of Henan Lixuan Network. According to the intention letter, the Group is required to conduct due diligence on Henan Lixuan Network after the signing of the intention letter. As of the date of this announcement, the company has engaged professionals to conduct due diligence on Henan Lixuan Network. The Board of Directors hereby emphasizes that as of the date of this announcement, the parties have not entered into a legally binding agreement regarding the potential cooperation. The Board of Directors recommends adopting the Chinese name "Jiufulai International Holdings Limited" as the dual foreign name of the company. The Board of Directors believes that once the potential cooperation under the intention letter is finalized, it can help the Group expand and strengthen its business. As Henan Lixuan Network has rich experience in providing information technology services, the potential cooperation will also enhance the Group's professional knowledge in system integration and computer-related services. In addition, the Group can leverage Henan Lixuan Network's connections in the medical field to expand its business to provide medical-related products while continuing to utilize the Group's expertise in system integration and information technology.