The board of Asia Television Holdings Limited announced that on 23 July 2021, entered into a non-legally binding collaboration memorandum (the "Memorandum") with Chinastone Group Limited ("Chinastone Group"). Pursuant to the Memorandum, both parties intend to carry out cooperation on the Sailfish mobile operating system (the "Sailfish OS") in the Greater China area. The specific cooperation contents include: Both parties will strive to integrate the Sailfish OS and the business development of Asia Television to create an intelligent streaming media platform, based on hardware devices and operating systems, to provide support for platform aggregation and technology migration, and through the use of high-quality program works of Asia Television, to provide Chinese-speaking users with an excellent user experience, thereby realizing the successful transformation of Asia Television; Both parties will cooperate in a long-term, vigorous and close cooperation to jointly expand business and extend the industry, give full play to their complementary advantages in industrial synergy, capital markets, investment and financing, etc., jointly explore the market, obtain more high-quality projects, and explore greater room for development; and Both parties agree to set up a joint working group for the above-mentioned cooperation content and cooperation methods to communicate closely and cooperate with each other to advance the work together (collectively, the "Businesses"). The parties agree that the Memorandum shall be valid for three (3) months (the "Validity Period") from the date of execution. Any of the parties has the right to notice the other party for renewal one month before the Validity Period, otherwise the Memorandum will be automatically terminated upon expiration.