Item 4 — Purpose of Transaction
On January 30, 2026, the Company closed an offering of 44,775,000 class A ordinary shares, par value $0.000625 each, to certain investors. On February 23, 2026, the Company effectuated a reverse share split of its ordinary shares at a ratio of 1:20. On April 10, 2026, the Company entered into a securities purchase agreement with True Sage, pursuant to which True Sage agreed to subscribe for and purchase from the Company, and the Company agreed to issue and sell to True Sage, an aggregate of 688,073 Class B Ordinary Shares. On May 4, 2026, upon the Company's receipt of the instrument of transfer and application for shares as duly executed by True Sage, the Company repurchased 505,664 Class A Ordinary Shares, held by True Sage, all of which are fully paid shares, in consideration for the Company's new issuance of 505,664 Class B Ordinary Shares to True Sage. This transaction was duly approved by the stockholders of the Company on April 30, 2026.