Asia Television Holdings Limited announced that on 12 May 2023, the Company entered into a strategic cooperation agreement with Shenzhen Youbeiqin Futurepai Artificial Intelligence Co. Ltd. where both parties will carry out extensive and in-depth cooperation. The term of this Strategic Cooperation Agreement will be half year from the date of the Strategic Cooperation Agreement.

To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, Futurepai is an independent third party independent from the Company and its connected persons. Pursuant to the Strategic Cooperation Agreement, the Company will invest HKD 80 million in Futurepai. The Company is of the view that this strategic cooperation and investment will bring great strategic values to the development of the Company, enhance the core competitiveness of the Company and further drive the Company to expand its business scope and increase its market share.

The Company will carry out comprehensive cooperation with Futurepai in the following areas: Content production: Both parties will jointly promote the generation of television content based on AI technology, so as to improve the program quality and ratings; Personalized recommendations: Provide more accurate and targeted program recommendations for the audience by using the intelligent recommendation system of Futurepai; and Data analysis: Carry out in-depth market research and analysis by combining the big data technology of Futurepai, in order to help the Company better expand the market and improve business operation efficiency.