On 30 June 2021, Wanda Hotel Development Company Limited entered into the Product Supply Framework Agreement with Dalian Wanda Group, pursuant to which Dalian Wanda Group and/or its subsidiaries have agreed to purchase, and the Group has agreed to supply, the Products according to the terms and conditions agreed therein. Supply of the Products to Dalian Wanda Group under the Product Supply Framework Agreement enables the Company to have an assured and stable outlet for its products and acquire a better understanding of end-customers, which in turn should enhance its capabilities to attract and retain customers by maximizing cross-selling opportunities and sharing of business resources, and optimize the Group's manufacturing processes to predict and control costs. Entering into the Product Supply Framework Agreement also expands the Company's source of revenue and improve the Company's profitability. This is in line with the Group's plan to adopt an asset-light business model and the strategic goal of achieving long-term development of the Group and sustainable growth of the Shareholders' value in the long run.