hmvod Limited announced that on 6 October 2021, the Company entered into a non legally binding memorandum of understanding with Beijing Zhenpin Information Technology Co. Ltd. Pursuant to the MOU, the Company intends to expand the e-commerce platform proprietarily developed by Beijing Zhenpin (providing an online market of goods and services to both buyers and sellers via, a full-category integrated e-commerce app), develop the advertising sales business, and explore the sharing of customer data, and enlarge overseas client markets. The Group is principally engaged in provision of professional services, over-the-top ("OTT") services, and proprietary trading. The professional services segment involves cyber security services and solutions. The OTT services segment involves provision of multi-media related services and content to customers in Hong Kong and Macau via its own digital video subscription platform. Apart from the development of its existing businesses, the Directors consider that it should, from time to time, source attractive new investment opportunities, especially in the Internet consumer market in China, being the market of such an enormous scale. The Company intends to seek partnerships with potential companies with abundant local resources to jointly develop a world-class Internet consumer market in China, so as to develop its existing business portfolio, engage in new business lines with growth potential, and extend its income source, which will be beneficial to the Company.