01003.HK announcement, on December 20, 2021, (I) the Group signed a film contracting agreement with Hainan, such as Japan, under which Hainan, such as Japan, conditionally agreed to provide film production services to the Group in respect of the film; and (ii) signed an employment agreement with Mr. Ning Hao, according to which Mr. Ning Hao conditionally agreed to act as the director of the film.

The film is "Star of the whole people", a Chinese comedy film directed by Mr. Ning Hao and starring Mr. Lau Dehua, with a total production budget of 260 million yuan.

Considering that Hainan, such as Japan, has a professional and experienced production team and the reasonable amount of production fees that the film contracting agreement group should pay to Hainan such as Japan, and Mr. Ning Hao is a well-known director in the Chinese film industry. He has directed films such as "incense", "Green Grass", "Crazy Stone", "Crazy Racing", "No Man's Land", "Love of Love", "Crazy Aliens", "me and my Motherland" and "me and my hometown" and so on. The participation of Hainan, such as Japan and Mr. Ning Hao, in the film will be beneficial to the development of the Group in the media and entertainment industries. Therefore, the directors are of the view that these agreements are beneficial to the Group.