This announcement is made by Cheerwin Group Limited (the ?Company?, together with its subsidiaries, the ?Group?) on a voluntary basis. The board (the ?Board?) of directors (the ?Directors?) of the Company announced that on 8 November 2021, Guangzhou Cheerwin Holding Company Limited (?Guangzhou Cheerwin?), an indirect wholly-owned subsidiary of the Company, entered into a strategic cooperation agreement (the ?Strategic Cooperation Agreement?) and an investment agreement (the ?Investment Agreement?, together with the Strategic Cooperation Agreement, the ?Agreements?) with Shandong Shuaike Pet Product Co. Ltd. (?Shandong Shuaike?). Pursuant to the Strategic Cooperation Agreement, Guangzhou Cheerwin, together with its subsidiaries, and Shandong Shuaike, together with its subsidiaries, agreed to carry out strategic cooperation in areas including pet food research and development, procurement, production, supply chain cooperation and capital cooperation. The effective date of the Strategic Cooperation Agreement is 8 November 2021. The details of the Agreements are as follows: Production Capacity Guarantee: Shandong Shuaike will serve as a strategic supplier of pet food to Guangzhou Cheerwin. Under original equipment manufacturer arrangement, Guangzhou Cheerwin undertakes to give priority to Shandong Shuaike for Guangzhou Cheerwin ' s procurement of pet food given the same available market conditions, and Shandong Shuaike undertakes to provide Guangzhou Cheerwin with stable and timely supply of products especially during the peak sales seasons. Cost Management: The parties agreed that during the strategic cooperation period, Guangzhou Cheerwin is entitled to preferential policies available for the core top customers of Shandong Shuaike. Technological Breakthrough: The parties agreed that they will jointly promote cooperation in pet food research and development, including but not limited to setting up joint pet food research laboratories, jointly applying for patents, sharing resources from third party authorities and training research engineers, etc. Strategic Investment: Guangzhou Cheerwin agreed to invest MYR 66,900,000 in Shandong Shuaike. The investment is financed by net proceeds from the global offering of the Company for the purpose of strategic acquisitions/investments of upstream and downstream businesses to acquire external high quality, complementary technologies, brands and businesses.