The board of directors of Bingo Group Holdings Limited announced that, Bingo Success Limited (Bingo SS), a wholly owned subsidiary of the Company, entered into a consultancy service agreement with New Huo Asset Management (Hong Kong) Limited, a wholly owned subsidiary of New Huo Technology Holdings Limited, on 18 July 2023, pursuant to which Bingo SS is engaged as an consultant to provide certain intellectual properties technical consultancy services to New Huo Asset Management, which in turn will act as the investment manager of a future investment fund which is in the course of formation (the Investment Fund). The major services to be provided by Bingo SS to New Huo Asset Management includes the following: to identify and select potential opportunities for the acquisition or realisation of intellectual property assets for the designated portfolios of the Investment Fund, at the request of New Huo Asset Management; provide technical advice and information in relation to the selected intellectual property assets in such manner as is determined reasonable by the Consultant, to enable New Huo Asset Management to monitor and analyse the performance of the intellectual property assets investments of the designated portfolios of the Investment Fund; provide information and data in such manner as is determined reasonable by the Consultant, concerning particular investment opportunities in intellectual property assets and market comparisons, and such other matters as New Huo Asset Management may reasonably require; with no solicitation to nor marketing for the designated portfolios of the Investment Fund, nor provision of any investment advisory to the potential clients, refer potential clients to New Huo Asset Management for its consideration and professional advice to such clients in making any investment; act in accordance with all reasonable instructions given, and authorities delegated to it, by New Huo Asset Management and provide such additional assistance or facilities to New Huo Asset Management as it regards as reasonable or incidental to the services.