Singularity Future Technology Ltd., after conducting investigations about its former CEO, Mr. Yang Jie, and allegations of his involvement in a $300 million Ponzi scheme that was brought into light by Hindenburg Research, have confirmed that the charges against Mr. Jie in the PRC have been dropped. They have also stated that no Red Notice was issued against him in the PRC, contradicting previous allegations. Mr. Jie had resigned from the company previously.