Gelonghui, Feb. 23, 丨 Changli Holdings (08098.HK) announced that the company signed a memorandum of understanding with the partner on February 23, 2024 to prepare cooperation. According to the memorandum of understanding, the company and partners should cooperate under a strategic partnership and explore the possibility of establishing joint ventures, 1) to develop smart city projects involving investment in the development, sales, marketing and services of partner products; and 2) act as the exclusive distributor of the partner's innovative 5G/6G millimeter wave fixed wireless access products in the ASEAN market.

The details of the cooperation require further negotiation and the signing of a formal agreement. The Memorandum of Understanding is not legally binding on the parties with respect to the proposed cooperation.