The board of directors of Platt Nera International Limited has (through its wholly owned subsidiary, Info Asset Holding Limited) entered into a non-legally binding memorandum of understanding with Dao Ning Healthcare Group Limited (the 'Prospective Partner'), in relation to the potential cooperation with the Prospective Partner for using healthcare computer systems to manage and facilitate the operation of medical centers in Hong Kong and the People's Republic of China ('PRC') (the 'Cooperation'). Due to travel restrictions caused by the current Coronavirus Disease 2019 ('COVID-19') pandemic, the Group's management is not able to travel to Hong Kong or the PRC to enhance the progression of the Cooperation. Hence, the Prospective Partner has offered and the Group has agreed to appoint Mr. Sun Ning, with his exclusive network and sales channels in the PRC, as a President of the Group so that he may effectively promote the potential deals in the PRC. Mr. Sun Ning shall report to and work closely with the management of the Group to turn potential leads into definitive projects and agreements. At the same time, the Group and the Prospective Partner are in the process of discussing possible ways of Cooperation (the 'Discussion'), which may include (i) the formation of a joint venture in the PRC between the Group and the Prospective Partner; or (ii) the Group's investment in the Prospective Partner. As at the date of this announcement, none of the terms or form of the Cooperation has been finalized.