July 10，Palm shares announced，To reduce the 188bet sports betting’s operating risks，Improve financial condition，And effectively solve the debt problem of accounts receivable，The 188bet sports betting plans to sign the "Credits Transfer Agreement" and "Credits and Debts Offset Agreement" with "Chengdu Qiankun Investment Co., Ltd."。

According to the announcement，Palm Co., Ltd. serves as the contractor and contractor Guiyang Baiyun City Construction Investment Group Co., Ltd. (i.e. the debtor，Hereinafter referred to as "Guiyang Baiyun City Investment") signed the "Baiyun District Nanhu Park Project General Contracting Contract" in July 2016，As of now，Guiyang Baiyun City Investment still owes the 188bet sports betting progress money (debt) for the "Baiyun District Nanhu Park Construction Project" that has not been paid。The 188bet sports betting plans to transfer 3425 of the aforementioned claims.The creditor's rights of accounts receivable worth RMB 120,000 are transferred to Chengdu Qiankun 188bet sports betting，Chengdu Qiankun 188bet sports betting agrees to transfer the above-mentioned claims of the 188bet sports betting，Both parties plan to sign the "Credits Transfer Agreement"。

At the same time，In view of the fact that the two suppliers of the Nanhu Park Project in Baiyun District plan to transfer part of their claims on the accounts receivable of the project to Chengdu Qiankun Investment Co., Ltd.。At the same time，Based on the accounts receivable enjoyed by Palm Co., Ltd. as the contractor to the contractor Guiyang Baiyun City Investment，After consultation between the 188bet sports betting and Chengdu Qiankun 188bet sports betting，Plan to sign "Credits Transfer Agreement" and "Claims and Debts Offset Agreement"，Chengdu Qiankun 188bet sports betting should pay the 188bet sports betting 3425 for the transfer of creditor's rights.120,000 yuan and the 188bet sports betting needs to pay 3425 to Chengdu Qiankun 188bet sports betting120,000 yuan project fund，Offset each other in equal amounts；After offset，Claims of both parties、Debt is lost。

Palm shares expression，The 188bet sports betting’s method of offsetting its claims and debts，Can solve the debt problem of some of the 188bet sports betting’s accounts receivable，Help reduce 188bet sports betting debt pressure，Improve the 188bet sports betting’s financial status，Reduce 188bet sports betting operating risks；At the same time，Preliminary calculation by the 188bet sports betting’s financial department，If this credit and debt restructuring is successfully implemented，The 188bet sports betting will reverse the credit impairment 2 that has been provided for Guiyang Baiyun City Investment in the previous period,8.82 million yuan (the specific accounting treatment and impact amount shall be subject to the results of the annual audit and confirmation by the accountant)，will have a positive impact on the 188bet sports betting’s operating performance in 2021。