Gelong Hui on October 9?Jun League International (08062.HK) announcementOn October 9, 2023, Joon League International Holdings Limited (together with its subsidiaries collectively referred to as the "Group"), a wholly-owned subsidiary (as an investor), entered into a non-legally binding memorandum of understanding with the target company.Maxwell Focus Limited, a wholly owned subsidiary of the companyThe subscriber has conditionally suggested that by subscribing for shares (equivalent to the target company)VENTURE HUB ASIA SG PTE. LTDThe issued share capital expanded as a result of the proposed subscription does not exceed 10%) invest in the target company.

The target company is a limited company registered in Singapore, established as an investment holding company as a leading technology accelerator focusing on cultivating artificial intelligence start-ups. The target company is committed to supporting entrepreneurs rooted in all fields and stakeholders in traditional enterprises who are visionary and well aware of the transformative potential of artificial intelligence. The company's unique approach is to give established companies an in-depth understanding of their respective market environments and to guide them to implement changes and develop technology and artificial intelligence solutions with regional and global expansion potential.

The company has been actively looking for opportunities to maximize returns for the company and its shareholders by investing in promising and promising businesses or projects, especially supporting businesses or software developer businesses. The directors are of the view that the proposed subscription will provide an opportunity for the company to carry out artificial intelligence solution business. The terms of the MOU were reached after negotiation between the subscriber and the target company in accordance with the principle of fairness.