The board of directors of the China Oil Gangran Energy Group Holdings Limited announced that on 11 October 2021 (after trading hours), the Company entered into a non- legally binding strategic cooperation agreement with (Beijing Qinglu Zhongbing Asset Management Co. Ltd.) (` Beijing Qinglu Zhongbing') in relation to possible business cooperation. Pursuant to the Strategic Cooperation Agreement, Beijing Qinglu Zhongbing and the Company may establish funds or joint venture companies to source funding in support of the projects of the Company. Beijing Qinglu Zhongbing may also assist the potential acquisitions and resources integration of the Group by leveraging its expertise in the financial services industry to broaden the source of financing and reduce the financing costs of the Group. The Group and Beijing Qinglu Zhongbing shall enter into separate legal y binding agreements when the terms of the business cooperation materialises.