United Strength Power : VOLUNTARY ANNOUNCEMENTSTRATEGIC COOPERATION FRAMEWORK AGREEMENT

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UNITED STRENGTH POWER HOLDINGS LIMITED

眾 誠 能 源 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2337)

VOLUNTARY ANNOUNCEMENT

STRATEGIC COOPERATION FRAMEWORK AGREEMENT

This announcement is made by United Strength Power Holdings Limited (the "Company", together with its subsidiaries the "Group") on a voluntary basis to provide its shareholders and potential investors with updated information in relation to the latest business development of the Group.

THE FRAMEWORK AGREEMENT

The board of directors (the "Board") of the Company is pleased to announce that on 20 November 2020, the Company entered into a strategic cooperation framework agreement (the "Framework Agreement") with China Sam Enterprise Group Co., Ltd (中國森田企業 集團有限公司) ("Sam Group"), pursuant to which both parties intend to carry out strategic cooperation in relation to the transportation and storage of retail and wholesale of petroleum and natural gas, with a view to utilising both parties' respective resources and professional advantages to strengthen competitiveness; and to conduct market exploration among the energy-related industry. The Company intends to develop cooperation with Sam Group to carry out potential petroleum and natural gas business-related projects in the foreseeable future.

INFORMATION ABOUT SAM GROUP

Sam Group is a company established in the People's Republic of China (the "PRC") with limited liability in 1985. It is principally engaged in, amongst others, the investment, development, production, sales and international trading of petroleum and natural gas. Based on the information available to the Company, Sam Group not only continuously upholds its valuable position in the fields of energy industry, but also collaborates with various chemical, infrastructure construction and technological enterprises and institutions as strategic partners.

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GENERAL

The Board considers that the terms of the Framework Agreement are based on normal commercial terms and are fair and reasonable. The Board also considers that the entering into of the Framework Agreement is in the interests of the Company and its shareholders as a whole as it would enable both parties to leverage on their respective strength, resources and expertise to build a stable and mutually-beneficial strategic relationship for the development of energy-related industry and projects. The Company will bring in its resources, while empowered by Sam Group, to rapidly develop any future plans and projects to further enhance the Company's presence in the energy market in the PRC and to create synergy effect for the Company.

Save for the confidentiality provisions in relation to the information and documents exchanged between the parties during the course of their cooperation, the Framework Agreement is non-legally binding and merely serves as a guiding document in relation to the long-term cooperation of the parties. Specific cooperation agreement(s) may subsequently be entered into between the parties from time to time to implement the development of petroleum and natural gas business contemplated under the Framework Agreement and to govern the respective rights and obligations of the parties depending on the actual business situation at the relevant time. As at the date of this announcement, no legally binding agreement has been entered into between the Company and Sam Group in relation to any development of petroleum and natural gas business. In the event that any legally binding agreement is entered into, the Company will comply with the requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in respect thereof and make further announcement(s) as and when appropriate.

By order of the Board

United Strength Power Holdings Limited

Mr. Zhao Jinmin

Chairman

Hong Kong, 20 November 2020

As at the date of this announcement, the Board comprises five executive Directors, being Mr. Zhao Jinmin, Mr. Liu Yingwu, Mr. Xu Huilin, Mr. Yuan Limin and Mr. Ma Haidong, and three independent non-executive Directors, being Ms. Su Dan, Mr. Lau Ying Kit and Mr. Zhang Zhifeng.

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