China Outfitters Holdings Limited announced that on 27 December 2023 (after trading hours), the Company entered into a memorandum of understanding (the MOU) with Zhuhai Gree Financial Investment Management Co. Ltd. and Zhuhai Sinosure Joint Investment Co. Ltd., pursuant to which all parties proposed to form partnerships in Zhuhai, Guangdong Province, to achieve favorable investment returns and provide satisfactory investment returns for the partners through direct equity investment and fund investment.

Proposed registered capital and partners of the partnerships. The registered capital of the Partnership 1 is proposed to be RMB 10,000,000.Gree Financial Investment or its subsidiary is proposed to be the general partner of the Partnership 1. The registered capital of the partnership 2 is proposed to be RMB 100,000,000. The Partnership 1 is proposed to be the general partners of the Partnership 2. The Company or its subsidiary, and Gree Financial Investment or its subsidiary, are proposed to be limited partners of the Partnership 2, respectively.

The MOU is intended to record the preliminary mutual understanding between the Company, Gree Financial Investment and Zhuhai Sinosure in relation to the Proposed Partnerships Formation. The parties to the MOU will further negotiate on the details of the respective rights and obligations between the parties in relation to the Proposed partners in relation to the Proposed Partnerhips Formation, and expected to enter into formal partnership agreements upon conclusion of such negotiations.