CMMB Vision Holdings Limited. (the "Company", together with its subsidiaries, collectively, the "Group") announced recently, the Development and Reform Commission of Shenzhen Municipality issued the Shenzhen Municipal Opinion on Supporting the Development of the Satellite and Application Industry with 16 policy initiatives, which are to leverage Shenzhen's unparalleled information technology and equipment manufacturing capabilities to build Shenzhen into the leading national and global satellite and application industry hub. Such initiatives will bring great prospects for the Company's satellite applications and services commercial development. Premising on satellite technologies in communications, navigation, remote sensing, Shenzhen's initiatives will focus on developing new satellite application scenarios, encourage converged applications in areas of transportation logistics, maritime economy, natural resources, urban safety, environmental protection, etc., while propelling Shenzhen to be the leading world-class application provider in satellite+ based intelligent transportation, intelligent logistics, smart city, smart ocean, intelligent emergency solutions etc. as well as their related ecosystem. The policy initiatives will also include direct financial assistance to project development, procurement of national preferential policy treatment, and promotion of collaboration between private and state-owned enterprises, so that satellite applications will become a mainstream industry in synergetic development with the mobile communication and Internet industry. Based in Hong Kong and the Greater Bay Area, the Company has a unique satellite broadcasting and communication platform covering China and Asia, satellite+5G converged technology, satellite multimedia technology, as well as advanced satellite-based applications for connected-car infotainment, marine applications, and smart cities, which will greatly benefit from Shenzhen's new policies.