“Due to the recent regulatory scrutiny by PRC governments on digital asset related business, the artwork unit trading platform operated by our PRC subsidiary, Takung Cultural Development (Tianjin) Co., Ltd (“Tianjin Takung”), was suspended by the local authority. The Management became aware of the suspension on or around November 8, 2021. The local authority indicated the suspension was to facilitate certain investigation although it did not announce the purpose of the investigation. The Company intends to fully cooperate with the local authority's investigation.”