The board of directors of IBO Technology Company Limited announce that on 24 June 2020, in view of the long-term development strategy of IBO Information (Shenzhen) Limited, a wholly-owned subsidiary of the Company, and Eternal Asia Supply Chain Management Ltd. and in the spirit of cooperation of reciprocity, mutual benefit, stability, long-lasting, high efficiency and high quality'', the Parties decided to join forces to establish an in-depth strategic partnership in respect of the provision of the supply chain platform services for 5G small (pico) base station related products and indoor coverage system by Eternal Asia Supply Chain to IBO Information. The Parties entered into a strategic cooperation agreement (the ``Agreement'') after friendly consultation, and reached common understanding as follows. The purpose of the cooperation between the Parties is to build a mutual-beneficiary and sustainable strategic partnership through their close cooperation. The Parties believe that the strategic cooperation can facilitate the Parties to further improve their overall operating efficiency, reduce operating costs, and realize their future market expansion strategies and gain market share, thus creating greater business value for the Parties.