The board of directors of China Yu Tian Holdings Limited announced that, on 28 March 2019, the Company entered into a strategic cooperation framework agreement (the ‘Strategic Cooperation Framework Agreement’) with a state-owned company of the People’s Republic of China (the ‘Cooperative Partner’) pursuant to which both parties agreed to carry out comprehensive cooperation in relation to, among other things, set up a company the in the People’s Republic of China for the development, production and sales of Bluetooth 5.0 chips and import and export supply chain platform business (the ‘Project’). In connection with the Project, the Cooperative Partner shall, among others, guide the strategic injection of capital investment for the Project, and shall support the Project through favorable policies and infrastructure support.