Roan Holdings Group Co., Ltd. announced that it has entered into a Letter of Intent with Zhejiang Shangyu Cao'e River Economic Development Zone as the Company executes on its strategic plan to provide planning, support, and operations for new energy storage, new materials and semiconductor related projects. Pursuant to the LOI, the Company will be responsible for the initial planning, regulatory approvals such as environmental and safety assessments, and industrial operations for a new industrial park whose target tenants would engage in new energy storage production, system equipment manufacturing, new materials and semiconductor, with supporting upstream and downstream projects. Pursuant to the LOI, Zhejiang Shangyu Cao'e River Economic Development Zone will provide support and assistance to the Project, including but not limited to favorable government policy, funding, and other resources.

The Project is strategically located less than one hour drive from Hangzhou City, and it is positioned as a high-end technology manufacturing industrial park with 66 Acres of land available for development. The Company will assist its project partners to set up an entire industrial chain in the industrial park and to build a sustainable industrial ecosystem by providing comprehensive industrial operations and capital solutions services for the following projects: energy core storage production, energy storage power plant system equipment manufacturing, new alloy material research and development production, micro display chip module and terminal equipment production and other related upstream and downstream projects.