For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements dated 12 October 2021, 14 October 2021, 10 January 2022, 8 April 2022, 6 July 2022, 7 October 2022, 6 January 2023 and 5 April 2023 in relation to the Memorandum of Agreement (MOA) with Poly China United Capital Holdings Limited with the intention to enter into a collaboration to explore opportunities in poly green energy and drone technology to achieve the objectives of the MOA. The Board of Directors of the Company wishes to announce that there is no material development as announced previously except the parties are still in the process of developing a feasible business model for the Collaboration.