Hung Teng Precision Technology Co., Ltd. (Hung Teng Precision) announced that it has signed two letter agreements with PacBridge Capital Partners (HK) Limited (PacBridge) on June 7, 2023 and March 12, 2024, respectively. Under the agreement, PacBridge will provide precision strategic planning and development services to Hung Ten to support the implementation of the company's specific expansion strategy. Honten Precision agreed to pay PacBridge a total of $3,000,000 in consulting fees, of which $1,000,000 has been paid as of June 21, 2023, with the remainder to be paid after certain conditions are met in the future. As PacBridge's managing partner and 100% beneficial owner Trainor-DeGirolamo is also a non-executive director of Honten Precision, the transaction constitutes a connected transaction. The Board of Directors (excluding Mr. Trainor-DeGirolamo) considers the terms of the transaction to be fair and reasonable and in the best interests of the Company and its shareholders. The transaction complies with the declaration and announcement requirements under the Listing Rules, but is exempt from compliance with the Circulars and Independent Shareholder Approvals.

Hung Teng Precision Technology Co., Ltd. (Hung Teng Precision) announced that it has signed two letter agreements with PacBridge Capital Partners (HK) Limited (PacBridge) on June 7, 2023 and March 12, 2024, respectively. Under the agreement, PacBridge will provide precision strategic planning and development services to Hung Ten to support the implementation of the company's specific expansion strategy. Honten Precision agreed to pay PacBridge a total of $3,000,000 in consulting fees, of which $1,000,000 has been paid as of June 21, 2023, with the remainder to be paid after certain conditions are met in the future. As PacBridge's managing partner and 100% beneficial owner Trainor-DeGirolamo is also a non-executive director of Honten Precision, the transaction constitutes a connected transaction. The Board of Directors (excluding Mr. Trainor-DeGirolamo) considers the terms of the transaction to be fair and reasonable and in the best interests of the Company and its shareholders. The transaction complies with the declaration and announcement requirements under the Listing Rules, but is exempt from compliance with the Circulars and Independent Shareholder Approvals.