The board of directors of Prosperous Printing Company Limited announced that, considering that both the Company and 3DPRO (Shanghai) Technology Co., Ltd. recognized the broad prospects for wide application of the industrial-grade FDM 3D printing technology, on 22 July 2021, both parties entered into a memorandum of joint venture cooperation, representing the parties' intention to jointly invest in and establish a joint venture to engage in the research and development, manufacturing, promotion, and sales and marketing of 3D printing equipment, its consumables and other related products. According to the Memorandum, the Company will hold a majority of controlling interests in the Joint Venture following its establishment, while 3DPRO will be responsible for the daily operation of the Joint Venture. The Company will conduct due diligence on 3DPRO within 90 days from the date of signing of the Memorandum. Upon completion of the due diligence to the satisfaction of he company, the Company will enter into a formal joint venture cooperation agreement with 3DPRO to agree on the detailed terms of the JV Cooperation.