The board of directors of China Biotech Services Holdings Limited announced that on 2 May 2023 (after trading hours), the company and The Chinese University of Hong Kong entered into a memorandum of understanding (the MOU), pursuant to which the Parties have agreed, among other things, to collaborate towards the development of the Greater Bay Area Diagnosis and Treatment Integrated Research and Development Transformation and Application Center (the "GBA Cancer DTIRA Centre") in the Shenzhen-Hong Kong Innovation and Technology Cooperation Zone situated in the Lok Ma Chau Loop. The principal terms of the MOU are set out below: Date: 2 May 2023. Parties: (i) The Company; and (ii) CUHK.

Subject matter: Pursuant to the MOU, the Parties agreed to cooperate in the following matters: (1) The Parties will jointly engage in the research and development of technologies, translating research results into practical applications, and contributing to local and national social-economic and technological development strategies; (2) The Parties will carry out close cooperation in developing novel treatment for both solid and liquid tumors, such as using boron neutron capture therapy ("BNCT") and cell therapy; (3) The Parties will work closely to form a synergistic collaboration on the development of the Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone; (4) The Parties will collaborate on advancing biomedical research, delivering high-quality clinical services (BNCT and cell therapy), and strengthening university-government-industry partnerships in nurturing technology transformation in Shenzhen Longgang ENT Hospital; and (5) The Parties will engage in translation research collaboration, talent development as well as clinical development and adoption at the Institute of Innovative Biomedicine in Hong Kong to be established by CUHK. Term: Two (2) years from the date on which the MOU is signed (the "Term"). The Parties may extend the Term by mutual written agreement to be entered into thirty (30) days before the expiry of the Term.