The board of directors Hong Kong Aerospace Technology Group Limited announced that, on 16 November 2022, the Company and Asia-Pacific Space Cooperation Organization (APSCO) entered into a memorandum of understanding (the MOU) in relation to the comprehensive cooperation in areas such as satellite manufacturing, satellite data, aerospace industry supply chain, aerospace education and training, organization of international conferences and forums. Pursuant to the MOU, the parties thereto intend that, among others: the Group will provide APSCO and its member states with businesses and services such as satellite manufacturing, satellite assembly, integration and comprehensive testing; the Group will provide APSCO and its member states with businesses and services such as satellite tracking and control and satellite data application; the Group will provide APSCO and its member states with businesses and services in the aerospace industry supply chain; and the Group, APSCO and its member states will jointly carry out aerospace education programmes and trainings and hold international academic exchanges and aerospace- related academic conferences and forums. The MOU shall be effective for a term of 5 years, commencing from the date of the execution of the MOU by the parties, but shall be automatically extended for one year thereafter, and shall be extended further accordingly, unless terminated by not less than 3 months' written notice served by either party prior to the expected termination date. The parties to the MOU shall establish appropriate legal instruments of cooperation before the specific projects and activities under the MOU can be carried out.