CMMB Vision Holdings Limited announced that it has entered into a MOU with its associated company Silkwave Holdings Limited to jointly set up a new company under the company's control to participate in the development of the Greater Bay Area. In particular, the parties intend to use the advantage of its existing satellite-mobile multimedia network under Silkwave to deploy services in the Greater Bay Area, quickly transforming the 9 cities and 2 regions of the Greater Bay Area into an all-encompassing, ubiquitously and connected smart- media metropolitan area, and this platform will improve the connectivity in the Greater Bay area with abundant, diverse, and low-cost mobile digital media and information which will boost the Company's prospects for future revenue and profit. The creation of this new company will allow the Company to access and operate aspects of Silkwave's satellite multimedia business, thereby allowing the Company to participate and capture the Greater Bay Area development opportunities, while leveraging the Hong Kong and Mainland Governments favorable policies and incentives in the area, which altogether could lead to better revenue and profit prospects for the Company. The expected services will primarily target the millions of vehicles and the tens of millions of and high-speed trains and public transit passengers, as well as millions of fishermen operating offshore and in the South China Sea. Users will be able to receive high-quality real-time, data- free audio and video broadcasting, Internet content downloads, enterprise data services, regional traffic and safety information, government announcements, emergency alerts, and maritime weather forecasts and warnings, etc. The converged network integrates satellite broadcasting with 4/5G Internet to provide multimedia and data services with unprecedented economies of scale and coverage, and its advantages cater especially to automobiles, railways, ships, and remote communities. This network also compensates for the limitations in the current 4G and even future 5G networks by vastly extending their coverage.