Gelonghui, December 27 | Global Strategy Group (08007.HK) announced that on December 27, 2023, the company and Hualing Energy Co., Ltd. (“potential partner”) entered into a non-legally binding memorandum of understanding on potential cooperation to develop the electric vehicle (“electric vehicle”) charging pile business.

The company and potential partners are discussing possible ways to collaborate. Potential partners can use the space provided by the Group to fully invest, operate and maintain the electric vehicle charging pile business, or the Group can also purchase electric vehicle charging pile equipment and facilities from potential partners and appoint potential partners as electric vehicle charging pile operators. Potential partners can also provide the Group with tailor-made solutions, such as turnkey batch construction, subcontracting and cooperation. After the negotiations are over, the two sides will sign a formal agreement. On the date of the MOU, no significant terms or forms of business cooperation were determined, and the parties did not enter into a legally binding agreement on cooperation.

The Group mainly engages in (i) natural gas business and (ii) sales and leasing business. The Board believes that it is beneficial for the Group to seek investment opportunities from time to time to develop its existing business portfolio, engage in new businesses with growth potential, and expand its revenue streams. The directors believe that if potential cooperation between the Group and potential partners is implemented, it will provide an opportunity for the Group to diversify the Group's revenue sources and meet the overall interests of the company and shareholders.