The board of directors of Acme International Holdings Limited announced that the Company and Stonewood Group Limited have entered into a memorandum of understanding on cooperation. Pursuant to the Cooperation MOU, the Group and Stonewood initially reached a joint cooperation to provide New Zealand with sustainable, clean and efficient energy through diversified new energy projects in a way that drives the development of the new energy industry, and promotes the economic and the environmental benefits. The scope of such cooperation covers (1) joint investment in, construction and operation of solar photovoltaic power stations; (2) development of wind power generation projects by utilising abundant wind energy resource in New Zealand; (3) joint exploration of development opportunities in the hydrogen energy industry, to propel the application and commercialisation of hydrogen energy technology; and (4) construction of charging pile network for electric vehicles, to facilitate the popularisation and promotion of new energy vehicles in New Zealand.

The two parties thereto will carry out projects in a cooperation mode featuring joint investment, co-construction and sharing. To the best of the Board's knowledge, information and belief having made all reasonable enquiries, Stonewood and its ultimate beneficial owner are third parties independent of the Company and its connected persons.