Gelonghui, September 30 (01189.HK) announced the cooperation intention agreement on the proposed cooperation arrangement for the hot spring hotel and its affiliated brewery located in Shaoguan City, Guangdong Province, China, dated June 26th, 2021.

As the Company and the seller have not entered into a legally binding agreement on possible arrangements within three months after the date of the Cooperation intention Agreement, the Cooperation intention Agreement has been invalidated.

The Directors are of the view that the invalidation of the Cooperation intention Agreement will not have any significant impact on the Group's business operations and financial position.