Gelonghui, March 19, 丨 Yabo Technology Holdings (08279.HK) announced that on March 18, 2024, Macau Express Group Holdings Co., Ltd. (“Macau Express Group”), a direct wholly-owned subsidiary of the company, signed a strategic cooperation framework agreement with China Foreign Performance Co., Ltd. (“China Foreign Performance”) to actively participate in and cooperate with the national cultural development strategy.

According to the framework agreement, the contracting parties agreed to use their respective resources and experience to establish a strategic partnership, which includes: (a) hosting large-scale cultural projects or events hosted or organized by Chinese foreign performance agencies in Macau and the Greater Bay Area; and (b) planning or introducing live performances such as operas, musicals, stage plays, etc. to be held in Macau and the Greater Bay Area, as well as offline events. Regarding the above cooperation, Macau Express Group and/or its associated companies will (among others) formulate project plans for cooperative projects and be responsible for the implementation of cooperative projects, such as the preparation, operation and implementation of cooperative projects, and continue to expand the cultural market in Macau in line with the Macao Government's moderate and diversified economic development plans. The term of a framework agreement is three years from the effective date of the framework agreement.

The board of directors believes that reaching the above strategic cooperation through the framework agreement will help the Group to continue to expand the cultural market in Macau in line with the Macao Government's moderate and diversified economic development plans, drawing on the convenient and inclusive development of mPay electronic payments, the experience advantages of local marketing technology services in Macau, and China's resources and expertise in the field of art and expression. It is expected that this strategic partnership will also have a synergy effect and promote the development of Macau as a world tourism and leisure center, thereby bringing long-term returns to the company and its shareholders.