On 25 August 2021, Carrianna Group Holdings Company Limited and Kaisa Group Holdings Ltd. entered into a strategic cooperation framework agreement in respect of the possible cooperation. Under the Strategic Cooperation Framework Agreement, leveraged on the competitive strength of both parties, the Company and Kaisa Group may cooperate with each other to further their business development which shall include without limitation the following: the Company and Kaisa Group will orderly commence strategic cooperation on various areas including property development, urban renewal, business operation management, property management, logistics management and capital operation, etc., initially in the Guangdong-Hong Kong-Macao Greater Bay Area and gradually expanding to other core cities; the Company and Kaisa Group will cooperate in the form of subscription of equity interest, formation of project company and/or special purpose vehicle in relation to one or more assets and/or projects of the Company and Kaisa Group, details of which shall be subject to further negotiations between the Company and Kaisa Group; and Kaisa Group will actively provide solution to the development and operation of the relevant business of the Group, and collaborate with the Group to expand the urban composite development and the relevant business operation and food and beverage management business. In particular, the cooperation between the Company and Kaisa Group may be in the following forms: in relation to the Phase 2 and Phase 3 of Dongguan Home Town project of the Group, the Company will select preferentially Kaisa Group as the cooperation partner to explore cooperation in property development, urban renewal, business operation management, property management and logistics management, details of which will be subject to further negotiations between the Company and Kaisa Group; in relation to the office and industrial park projects of the Group, Kaisa Group may provide operation and management services; in relation to any new property development project in strategic area recognized by the Company and Kaisa Group, the Company and Kaisa Group may cooperate with each other by way of formation of joint venture companies; and in view of the quality service and reputation of the Company in the food and beverage industry, Kaisa Group and its associated food and beverage brands will preferentially select the food and beverage brands of the Group as its strategic partner for food procurement.