Huijing Holdings Company Limited announced that on 23 November 2023, the Company entered into a letter of intent of strategic cooperation with Dongguan Communications Investment Property Co. Ltd. The principal terms of the Letter of Intent are set out below: Subject to applicable laws and policies and having regard to each party's potential land resources and property development projects (particularly in respect of projects within Dongguan City), the Company and Dongguan Communications Investment will explore and study on the feasibility of cooperation. The types of cooperation include but not limited to (i) cooperation related to equity interest and capital contribution in relation to individual projects; and (ii) cooperation related to equity interest of the Company, subject to the entering into of definitive agreement(s).

The cooperation between the parties is intended to be implemented by stages. The focus of the first stage will be on promoting the implementation of cooperation relating to the three existing projects of the Company in Dongguan City (including two urban-renewal projects), and simultaneously study the feasibility of implementation of cooperation by Dongguan Communications Investment on the development plan of primary and secondary land development projects. The parties will further explore on the feasibility of cooperation at equity interest of the Company when appropriate.

The Letter of Intent is valid for a term of 2 years upon execution of the Letter of Intent by both parties. If both parties still intend to continue progressing with cooperation after the expiry of the term of the Letter of Intent, they can extend the term for cooperation by entering into a supplemental agreement. Both parties understand and agree that the Letter of Intent aims at establishing cooperation intentions between the parties.

The confirmation and implementation of cooperation between the parties is subject to the entering into of a definitive agreement by the parties.