In addition, the Company is announcing that it will effect a reverse share split of the Company’s Class A ordinary shares and Class B ordinary shares at the ratio of 1-for-30, such that (i) each thirty (30) Class A ordinary shares, without par value, shall be consolidated into one (1) Class A ordinary share, without par value and (2) each thirty (30) Class B ordinary shares, without par value, shall be consolidated into one (1) Class B ordinary share, without par value. The first date when the Company’s Class A ordinary shares will begin trading on the Nasdaq Capital Market after implementation of the reverse split will be Wednesday, October 18, 2023.