The board of directors of Global Uin Intelligence Holdings Limited announced that the Company has established a wholly-owned subsidiary in the People's Republic of China, Anhui Qiutian Intelligent Technology Co. Ltd. (An Hui Qiu Tian Zhi Hui Ke Ji You Xian Gong Si) (Anhui Qiutian), to explore potential business opportunities brought by intelligent drink vending machines (the New Business). The Group intends to install intelligent drink vending machines in the venues provided by the business partners and be responsible for, among others, the operation and maintenance of the intelligent drink vending machines, while the business partner shall procure from Anhui Qiutian the products designated for the intelligent drink vending machines at or above the minimum order quantity as agreed in the respective business cooperation agreement.

As at the date of this announcement, the Group has signed business cooperation agreements in relation to the New Business with two catering groups in the PRC. The Board believes that the New Business will (i) diversify the Group's scope of business; (ii) help the Group develop a comprehensive business portfolio; (iii) effectively promote the Group's business development in the PRC; (iv) seize good market opportunities and (v) expand the sources of revenue of the Group, and therefore the New Business is in the interests of the Company and its shareholders as a whole, and will bring positive returns to the Group in the long run. Further announcement(s) in relation to the latest development of the New Business will be made by the Company as and when appropriate.