The board of directors of Haichang Ocean Park Holdings Ltd. announced that the Group has recently entered into a cooperation framework agreement with Beijing Tongzhou Urban Construction and Operation Group Co. Ltd. (Bei Jing Tong Zhou Cheng Shi Jian She Yun Xing Ji Tuan You Xian Gong Si, and together with its subsidiaries, the "Tongzhou Urban Construction Group"), a wholly-owned subsidiary of Tongzhou District Government to work collaboratively to develop Beijing Haichang Ocean Park Project. The location of the Collaborative Project is situated at the north side of Universal Studios, the subcentral cultural tourism zone of Beijing, with a total construction area of approximately 140,000 square meters.

The Collaborative Project will integrate the Group's 140,000 marine life resources and more than 20 years of experience in ocean park operation, bring in diverse marine life, polar animals and large-scale marine and terrestrial organisms, as well as internationally renowned IP, and create a marine ecological experience and entertainment center integrating a variety of functions such as ecology, science, research and study, interaction, performance, art and special food and beverage, forging a brand new ocean resort lifestyle featuring "Eco-Entertainment-Ex perience-Vacation" benchmarked by international first-class planning, design, construction and operation. The Board believes that this cooperation is of great strategic significance, being the Group's first project in Beijing. It is also another project led by local state-owned assets authorities and fully operated and managed by the Group, demonstrating that the Group has won further recognition in terms of OAAS (operation as a service asset-light operating model) business model, dual-engine strategy of " marine culture + IP".

This cooperation will consolidate the advantageous resources from both parties, form an effective synergy with Universal Studios, and help the cultural tourism district to build a brand-based conglomeration for landmark cultural tourism destinations, which will also help boost the overall enhancement in the Group's market share and revenue. As the cooperation framework agreement is not legally binding, the project and matters thereunder may or may not proceed, shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.