Chaince Digital Holdings Inc.

Corporate Formation and Structure The Company was incorporated in the Cayman Islands as an exempted company with limited liability on July 13, 2011. The Company conducts its operations through its subsidiaries in the United States, Hong Kong, and the People’s Republic of China. Chaince Securities, Inc. is a corporation organized under the laws of the State of Delaware, United States. Chaince Securities, LLC is a limited liability company organized under the laws of the State of Delaware, United States and is a Financial Industry Regulatory Authority ( FINRA )-registered broker-dealer. Ucon Capital (HK) Limited is a limited liability company incorporated in Hong Kong. Chaince (Shenzhen) Consulting Co., Ltd. is a limited liability company established under the laws of the People’s Republic of China. Unless otherwise indicated, references to the Company, we, us, or our refer to Chaince Digital Holdings Inc. and its consolidated subsidiaries. Overview A. History and Development of the Company Prior to 2021, the Company explored various technology-related business opportunities, including blockchain-related services. Beginning in October 2021, the Company initiated digital asset mining activities as part of its exploration of blockchain infrastructure and computing services. From October 2021 to April 2022, the Company participated in Bitcoin mining through shared mining arrangements, under which the Company leased computing power from third-party mining service providers rather than owning mining equipment directly.