ChainOn Group ^{Filed Terms, Nasdaq: CHON}

ChainOn Technology (HK) Limited, our Operating Subsidiary, was incorporated in Hong Kong on December 29, 2017 under the name Success Illusion Limited. In our early stage of operations, the Operating Subsidiary focused on the development, sales, and maintenance of enterprise-grade servers and related hardware. On July 19, 2019, our Operating Subsidiary formally changed its name to ChainOn Technology (HK) Limited to reflect our ambition to expand beyond hardware into integrated technology services. Currently, our Operating Subsidiary provides comprehensive technology services, leveraging our expertise in Web3 technologies, cloud infrastructure, and our end-to-end service model with a client-centric project management approach to deliver customized software development and technology solutions. We primarily operate through two service lines: 1) Project Development Services. 2) Advisory and Support Services: (i) project monthly maintenance services; and (ii) hardware monthly maintenance services. The market for integrated technology-services is highly competitive, and we anticipate this competition will intensify. However, we believe the following key strengths set us apart from our competitors and will continue to drive our growth and success: 1) Blockchain Expertise. 2) Comprehensive Technology Services. 3) Client-Centric Operations. 4) Technical Expertise. 5) Regional Presence with Growth Potential.