Meten EdtechX Education Group Ltd. announced that the Company has adopted a new initiative to develop a blockchain and cryptocurrency business with the goal of transitioning the Company into a new benchmark among innovative enterprises. The Company has been exploring the feasibility of blockchain and cryptocurrency business beginning from 2020. As disclosed in a series of press releases in 2021, the Company had devised a blockchain technology strategic plan, intended to introduce Dogecoin reward mechanism, and applied non-fungible token ("NFT") for digital copyright in online education. By leveraging the experience in applying blockchain technology, NFT and Dogecoin reward mechanism on Likeshuo, the Company plans to build a new business division and set up a professional team to promote blockchain and cryptocurrency business in the following two to three months.