According to Zhitong Finance App, Yabo Technology Holdings (08279) issued an announcement. On February 8, 2024, Macau Express Group Holdings Co., Ltd. (Macau Express Group), an indirect wholly-owned subsidiary of the company, signed a cooperation framework agreement (framework agreement) with Gaode Asia Limited (Gaode).

According to the framework agreement, the contracting parties agreed to use their respective resources and experience to establish strategic partnerships in smart travel and local services, including: jointly providing travel services for eligible users in Macau, China (subject to relevant laws and policies in Macau, China); and display, marketing, operation and technical support for Macau merchant information and coupons provided by Macau Express Group to provide more convenient and diversified local services for Gaode users when traveling in Macau, China. The term of a framework agreement is three years from the effective date of the framework agreement.

Gaode is a leading mobile digital map, navigation and real-time traffic information service provider in China, providing end users with a one-stop portal for services including navigation, local living, and ride-hailing. After making all reasonable inquiries, the directors confirmed that as far as they know, know and believe, Gaode (an indirect wholly-owned subsidiary of Alibaba Group Holdings Limited) is a related person of the company (see Hong Kong Stock Exchange Limited GEM Securities Listing Rules (GEM Listing Rules)).

The announcement stated that reaching the above strategic cooperation through the framework agreement will help the Group to expand and enrich the use of mPay users by leveraging the inclusive and convenient development of mPay electronic payments, the experience advantages of local marketing technology services in Macau, China, and Gaode's resources and professional capabilities in the field of smart mobility. The strategic cooperation is also expected to have a synergetic effect, bringing convenient integrated services for shopping, travel and entertainment for Macau residents and visitors, and promoting the development of Macau, China as a smart city, thus bringing long-term returns to the company and its shareholders.