SINO Sino Global Shipping America Ltd

Item 1.01 Entry into a Material Definitive Agreement.

On September 23, 2022, Hexin Global Limited, a British Virgin Islands corporation (“Hexin”) and Viner Total Investments Fund, a Cayman Islands corporation (together with Hexin, the “Hexin Plaintiffs”) filed a lawsuit in the Southern District of New York captioned Hexin Global Limited, et al. v. Singularity Future Technology, Ltd., et al., Case No. 22-cv-08160-LJL, against Singularity Future Technology Ltd. (the “Company”), Yang “Leo” Jie (“Jie”), Jing “Angela” Shan (“Shan”), Tuo “Tina” Pan, and Lei Cao (collectively, the “Defendants”) (the “Hexin Action”). On October 6, 2022, Jinhe Capital Limited, a British Virgin Islands corporation (“Jinhe”) filed a lawsuit in the Southern District of New York against the Company captioned Jinhe Capital Limited v. Singularity Future Technology, Ltd., Case No. 22-cv-08538-LJL (the “Jinhe Action”). On December 22, 2022, St. Hudson Group LLC, a Delaware limited liability company, Imperii Strategies LLC, a Delaware limited liability company, Isyled Technology Limited, a Hong Kong company, and HSQYNM Family Inc., a New York corporation (together with Jinhe and the Hexin Plaintiffs, the “Plaintiffs”) filed a lawsuit in the Southern District of New York against the Defendants captioned St. Hudson Group LLC, et al. v. Singularity Future Technology Ltd., et al., Case No. 22-cv-10290-LJL (together with the Jinhe Action and Hexin Action, the “Actions”).

The Company, Shan, and the Plaintiffs entered into a certain settlement agreement and general mutual release with an effective date of March 10, 2023 (the “Settlement Agreement”). Jie also executed the Settlement Agreement. Pursuant to the Settlement Agreement, the Company agreed to pay a sum of ten million five hundred twenty-five thousand nine hundred and ten dollars and eighty-two cents in U.S. dollars ($10,525,910.82, the “Settlement Payment”). Plaintiffs in the Actions agreed to discharge and forever release the Defendants in the Actions from all claims that were or could have been raised in those Actions, as well as dismissal of each of the Actions with prejudice. The Company has no role or knowledge as to how the Settlement Payment will be allocated between and among the Plaintiffs.

The foregoing description of the Settlement Agreement is a summary of the material terms of such agreement, does not purport to be complete and is qualified in its entirety by reference to the Settlement Agreement, which is attached hereto as Exhibit 10.1.