On June 24, 08250.HK announced that on June 23, 2022, Dudu International Trading Co., Ltd. (an indirect wholly-owned subsidiary of a limited company incorporated in Hong Kong and an indirect wholly-owned subsidiary of the company) and du Xianmei Industrial (Shenzhen) Co., Ltd. (indirect wholly-owned subsidiary of the company) "Dudu Industrial") and China Reserve (Guangdong) Grain Trading Co., Ltd. ("China Reserve") entered into a strategic cooperation agreement on potential business cooperation between the parties concerned.

According to the cooperation agreement, the parties agree, among other things, 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. The initial term of the cooperation agreement is three years, after which it will be automatically renewed for one year, but may be terminated by either party with three months' notice.

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.