Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

On June 26, 2026, CNET Technology Limited (the "Purchaser"), a wholly-owned subsidiary of ZW Data Action Technologies Inc. (the "Company") in the British Virgin Islands, entered into a purchase agreement (the "Acquisition Agreement") with AFFIRM MISSION LIMITED, a British Virgin Islands company (the "Seller") and MARGO ASIA LIMITED, a British Virgin Islands company ("Margo"), pursuant to which the Seller will sell its 8.0% equity interests in Margo (the "Equity Interests") to the Purchaser. In consideration for the Equity Interests, the Purchaser shall pay to the Seller $474,000 in cash and cause the Company to issue 180,000 shares of common stock of the Company, having a total value of $126,000 and valued at $0.70 per share, to the Seller. The closing of the acquisition is subject to customary terms and conditions as set forth in the Acquisition Agreement.

A copy of the Acquisition Agreement is attached to this Current Report on Form 8-K as Exhibit 10.1, and is incorporated herein by reference.