Zhejiang United Investment Holdings Group Limited in relation to, among others, the establishment of the Joint Venture. The Joint Venture has completed its registration and obtained the certificate of company registration issued by the Hong Kong Companies Registry. The relevant details are as follows: Name of Joint Venture: PAI Mobile Holdings Limited; Structure of shareholding: Each of the Company and Arima Communications Corporation holds 81.0% and 19.0% equity interest in the Joint Venture, respectively.

Scope of operation: The Joint Venture will primarily be engaged in the development, production and global sales of 5G mobile phones, 5G personal terminals and related products.