Jiuzi Holdings, Inc.

Jiuzi Holdings Inc. is a Cayman Islands exempted company incorporated on October 10, 2019, that conducts its business in China through its PRC Operating Subsidiaries. Jiuzi HK, incorporated on October 25, 2019, is a wholly-owned subsidiary and acts as a holding company. Jiuzi WFOE, incorporated on June 5, 2020, is a wholly-owned subsidiary of Jiuzi HK and a wholly foreign-owned entity under the laws of the People's Republic of China. Its registered principal activities include new energy vehicle retail, new energy vehicle component sales, new energy vehicle battery sales, vehicle audio equipment and electronics sales, vehicle ornament sales, technology service and development, marketing planning, and vehicle rentals. Prior to a restructuring completed on January 20, 2023, Jiuzi WFOE had entered into contractual arrangements with Zhejiang Jiuzi and its shareholders, establishing a Variable Interest Entity (VIE) structure. Under these agreements, Jiuzi WFOE was considered the primary beneficiary of Zhejiang Jiuzi, and Jiuzi Holdings Inc. consolidated the financial results of Zhejiang Jiuzi and its subsidiaries in its consolidated financial statements in accordance with U.S. GAAP. In November 2022, the company's board of directors decided to dissolve the VIE structure.