Asia Grocery Distribution Limited (SEHK:8413) y entered into a non-legally binding memorandum of understanding to acquire an unknown minority stake in Beijing Douguo Information Technology Co., Ltd. from Beijing Douguo Yangtian Internet Technology Co. Ltd. on April 30, 2021. The consideration for the Possible Acquisition and the manner of payment shall be further negotiated between the Company and the Vendor and be determined in the Formal Agreement. Subject to the Company’s satisfaction with the due diligence review, the Company and the Vendor agree to proceed to negotiate and with the view to finalise detailed terms and conditions of the Formal Agreement and to execute the Formal Agreement