Shenzhen International and its subsidiaries Deepspeed announced that they have signed an extension agreement with CMF Corporation, CMF Fund, Deep Investment, Seller and Mie Wah Corporation on January 16, 2024. The agreement involves an arrangement for CMF Fund to defer the sale of distributed shares and the continuation of the gap settlement obligation and payment liability. Deep High Speed acquired an equity interest in Gulf Development through M&A in 2022 and undertakes an obligation to compensate for the corresponding gap. The renewal agreement helps to maintain a stable shareholder structure in the Bay Area and to prevent the risk of volatility in the amount of obligations. The main terms of the Renewal Agreement include the Payment Liability Supplemental Agreement, the Differential Settlement...Show More

Shenzhen International and its subsidiaries Deepspeed announced that they have signed an extension agreement with CMF Corporation, CMF Fund, Deep Investment, Seller and Mie Wah Corporation on January 16, 2024. The agreement involves an arrangement for CMF Fund to defer the sale of distributed shares and the continuation of the gap settlement obligation and payment liability. Deep High Speed acquired an equity interest in Gulf Development through M&A in 2022 and undertakes an obligation to compensate for the corresponding gap. The renewal agreement helps to maintain a stable shareholder structure in the Bay Area and to prevent the risk of volatility in the amount of obligations. The main terms of the Renewal Agreement include the Payment Liability Supplemental Agreement, the Differential Settlement Supplemental Agreement and the Renewal of the Income Compensation Agreement, and the extension of the Deferral Compensation Obligation until 17 August 2028. The Board of Directors of Shenzhen International and Deep High Speed considers that the terms of the agreement are fair and reasonable and are in the overall interests of the company and its shareholders.