Zhitong Financial APP News, Silk Road Energy (08250) issued an announcement that on June 23, 2022, Dudu International Trading Co., Ltd. (the company's indirect wholly-owned subsidiary, Dudu Trading) and Dudu Xianmei Industrial (Shenzhen) Co., Ltd. (indirect wholly-owned subsidiary of the company, Dudu Industrial) entered into a strategic cooperation agreement with China Reserve (Guangdong) Grain Trading Co., Ltd. (China Reserve). Content of potential business cooperation between the parties concerned.

According to the cooperation agreement, the parties agree to establish a strategic partnership, give full play to their respective strengths and resources, improve the quality of business products, maintain customer relations, and ensure long-term growth. Specifically, cooperation among all parties will focus on the trade, logistics, warehousing and supply of agricultural commodities such as sugar, live pigs and rice.

Due to the growing purchasing power and rising living standards in China, the Group finds that there is a growing demand for quality fresh products and agricultural products in China. As a result, the Board is optimistic about the business prospects of the fresh products trading business and is keen to establish a stronger influence in the fresh products market to diversify the Group's business and promote the long-term growth of the Group's revenue. It is expected that the Group will deploy more resources to develop the division.

Through the conclusion of the cooperation agreement, the Group will seize the opportunity to establish a long-term cooperative relationship with one of the largest state-owned enterprises in the agricultural industry, which is expected to contribute stable sales revenue to the Group's fresh and agricultural products trade. to lay the foundation for the development of fresh trade, a new main business segment, so as to increase the group's total income for a long time.