MMTEC, INC. ANNOUNCES RELOCATION OF OPERTIONS FROM BEIJING TO HONG KONG

Rhea-AI Summary

MMTEC, Inc. (Nasdaq: MTC) announced on March 6, 2023 its relocation of operations from Beijing to the Hong Kong Special Administrative Region. The move will see its subsidiary MM Future Technology Limited taking over responsibilities from Gujia (Beijing) Technology Co., Ltd., which will focus on technical R&D. The company aims to enhance its asset management and securities underwriting while attracting global investment for China's economy. New operations headquarters are located at Room 2302, 23rd Floor, FWD Financial Center, Hong Kong. Contact number is +852 36908356.

Positive

• Relocation to Hong Kong may provide better access to international investors.
• Strengthening focus on asset management and securities underwriting.
• Continued investment in Chinese market aimed at economic development.

Negative

• None.

BEIJING, March 6, 2023 /PRNewswire/ -- MMTEC, Inc. ("MMTEC" or the "Company") (Nasdaq: MTC) announced that commencing March 6, 2023, the Company will relocate its operations from Beijing to Hong Kong Special Administrative Region. The Company's subsidiary, MM Future Technology Limited, a Hong Kong incorporated limited company, will assume all operations previously performed by the Company's subsidiary, Gujia (Beijing) Technology Co., Ltd. ("Gujia"). Gujia will continue to perform certain the technical research & development.

Through its subsidiary, HC Securities (HK) Limited, a Hong Kong incorporated limited company, and other Company entities, the Company will continue to invest human resources in asset management and securities underwriting and other related businesses, seeking to attract global funds to invest in the Chinese market and facilitating China's economic development.

The Company's new operations headquarters address is: Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong

The new contact is: +852 36908356

About MMTEC, Inc.

Headquartered in Hong Kong Special Administrative Region, our Company mainly focuses on investment banking and asset management business, providing customers with one-stop and all-round financial services. In addition to traditional incubation and investment in domestic and foreign companies listed in the United States, it also launched the HiFund platform to attracting global institutional and individual investors to invest in the most competitive Chinese assets.

More information about the Company can be found at: www.haisc.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may", "will", "intend", "should", "believe", "expect", "anticipate", "project", "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Specifically, the Company's statements regarding its continued growth, business outlook, and other similar statements are forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission, including the Company's most recently filed Annual Report on Form 20-F and its subsequent filings. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE MMTEC, Inc.

FAQ

What did MMTEC announce on March 6, 2023?

MMTEC announced its relocation of operations from Beijing to Hong Kong.

What is the new operations headquarters address for MMTEC?

The new address is Room 2302, 23rd Floor, FWD Financial Center, Hong Kong.

Which subsidiary will assume operations after MMTEC's relocation?

MM Future Technology Limited will take over operations previously conducted by Gujia Technology.

What business focus will MMTEC continue after the move to Hong Kong?

MMTEC will focus on asset management and securities underwriting.

What is the contact number for MMTEC's new operations headquarters?

The contact number is +852 36908356.