The board of directors of GOME Retail Holdings Limited announced that on 22 July 2021, GOME Retail Company Limited, a wholly-owned subsidiary of the company, entered into a framework co-operation agreement with Shenzhen Investment Holdings Capital Co. Ltd. (SZ Capital), a wholly-owned subsidiary of Shenzhen Investment Holdings Co., Ltd.(SZ Investment Holdings) and Eternal Asia Supply Chain Management Ltd. (SZ Eternal). The entering into of the Cooperation Agreement by the parties adheres to the business philosophy of Chinese origin, worldwide service, boundless commerce and co-operation, and leverages on the strength of the Group's omni-channel, multi-scenarios, fully integrated resources, direct supply and exclusive resources of many well-known cooperative merchants around the world, coupled with SZ Eternal's extensive experience in the large consumer supply chain industry and channels, and safeguarded by the strong financial strength and background of the state-owned SZ Investment Holdings. Under the Co-operation Agreement, the Group, SZ Investment Holdings and SZ Eternal will leverage on their respective strengths and resources to co-operate in various areas including but not limited to the formation of a global commodity supply chain sharing center, the setting up of a global sharing retail platform, creating a global smart production chain centered around the Bay Area, opening up of various ecosystems such as logistics services for the establishment of and sharing of low-cost and highly-efficient ecosystems, establishing investment funds to investing in the big consumer spending sector, possible investments by SZ Capital and SZ Eternal in various projects of the Group including for example the Group's online platform "FUN and possible investments by the Group and SZ Capital in the retail platforms and projects of SZ Eternal.