Tongda Group Holdings Limited board of directors (the Director(s)) announced that on 24 November 2022, the Company entered into a memorandum of understanding on strategic cooperation (the MOU) with Cornerstone Technologies Holdings Limited (the Strategic Partner). Scope of operation: Pursuant to the MOU, the Company and the Strategic Partner intend to collaborate with each other so as to bring mutual benefits to each other, and the collaboration may be in form of, including but not limited to: the Company and the Strategic Partner become official business partners to support each other and to explore the effective use and integration of each other's technologies into the respective solutions being developed and marketed by the Company and the Strategic Partner, especially to facilitate (i) research and development in the advancement of electric vehicle charging station, and (ii) marketing of the use of electric vehicle charging station in Hong Kong and the PRC; possible formation of a joint venture between the Company and the Strategic Partner to incorporate the technologies possessed by both of them into each other's products; and pooling of relevant resources of the parties to establish other cooperative model(s) which aims to maximise each other's benefits. Term: The MOU shall be effective for a period of 3 years commencing from the date of the execution of the MOU, unless terminated by not less than 6 months' prior written notice to the other party prior to the expiration of the term of the MOU.