China Dongxiang (Group) Co., Ltd. announce that on 7 October 2020, the Company as licensor (the Licensor), Shiffon Co., Ltd. as licensee (the Licensee) and the Licensee's actual controller as the licensee's guarantor (the Guarantor') entered into a distribution and license agreement, pursuant to which the Licensor granted to the Licensee an exclusive right to utilize certain ``Phenix'' trademarks in connection with the design, manufacture, sales and marketing of certain products within Japan and other regions including certain European regions, Korea, Australia and the United States of America (other than the People's Republic of China (PRC')) where the Group owns the trademark rights in connection with the Phenix' brand. The term of the Agreement is three years and three months from 1 January 2021 to 31 March 2024, with an option to extend for a further two years as agreed by the parties to the Agreement. To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, the Licensee, its ultimate beneficial owners and the Guarantor are third parties independent of each of the Company and its connected persons.