According to the announcement from Agtech Holdings (08279) on November 26, 2024, the company's direct wholly-owned subsidiary, Macau Tong Group Holdings Limited ("Macau Tong Group"), entered into a letter of intent with Cardnet Group ("Cardnet").

Based on the letter of intent, the contracting parties have preliminarily expressed their intention to jointly build a bilateral retail cross-border digital gateway ecosystem ("BRIDGE") through a Central Interconnect Platform ("CIP"), and cooperate with other parties to facilitate cross-border, cross-system payments and seamless transactions for users in China and Europe. The collaboration structure between Macau Tong Group and Cardnet will include (a) integrating East Asia's e-wallet system and Europe's payment card network into CIP, (b) allowing Chinese tourists to use QR codes and European users to use NFC for payments, and (c) incorporating real-time currency exchange into CIP.

Cardnet is a leading digital payment integrator and service provider in Hungary, primarily serving the networks of banks, retailers, and merchants in Central Europe, Eastern Europe, and the Gulf region.

The board of directors believes that the intention to jointly build BRIDGE can diversify the group's payment system usage scenarios, enable the group to leverage Cardnet's resources and expertise in the European payment card network, and help the group continue to develop digital infrastructure in line with the "Digital Silk Road" framework, aligned with the group's interests. It is expected that the BRIDGE project will also generate synergies, providing convenience and comprehensive services for European users and Chinese tourists in Europe, maximizing the business value of the group's technology platform, and bringing long-term returns to the company and its shareholders.