Shenghua Lande Scitech Limited announced that on 13 December 2021 (after trading hours), Dianshi Technology entered into the Cooperation Framework Agreement with Junrui Industrial and Xuanying Yunhao Partnership, pursuant to which the afore-mentioned three parties have agreed to establish the Joint Venture Company with a registered capital of RMB 10,000,000 (equivalent to approximately HKD 12,249,000) in Hangzhou City, Zhejiang Province, the PRC and each of Dianshi Technology, Junrui Industrial and Xuanying Yunhao Partnership has agreed to contribute to the registered capital of the Joint Venture Company at RMB 4,600,000 (equivalent to approximately HKD 5,635,000), RMB 5,100,000 (equivalent to approximately HKD 6,247,000) and RMB 300,000 (equivalent to approximately HKD 367,000), respectively. The Joint Venture Company will be principally engaged in the management and operation of children's clothing brands, including the establishment, incubation, agency and acquisition of brands, and provision of related supply chain finance and services from product planning and category planning to production, storage, delivery and sales channel promotion.