On June 2, Ge Longhui Co., Ltd. (300299.SZ) announced that Shanghai Junmeng Network Technology Co., Ltd. (hereinafter referred to as “Shanghai Junmeng”), a wholly-owned subsidiary of the company, recently signed a “Technical Support Agreement” with Gravity Co.Ltd. (hereinafter referred to as “Gravity”, an online game company listed on NASDAQ).

According to the agreement, Gravity cooperated with Shanghai Junmeng on the distribution of “Ragnarok RO: The Birth of a New Generation” in authorized regions (i.e. Japan), with Shanghai Junmeng as the exclusive technical supporter. Gravity pays the technical service fee to Shanghai Junmeng according to the agreed ratio based on game revenue. The agreement period lasts for 2 years from the date of official commercial release of the game, and can be automatically renewed for 1 year (unless Gravity gives notice 3 months before the expiration date not to renew).

The signing of this relevant agreement will help promote the market distribution and promotion of the company's game products, and help enhance the company's market influence in game development. The company's current cooperation with Gravity is a continuation of the excellent results achieved by the two parties in the distribution cooperation of the company's self-developed product “Ragnarok: The Birth of a New Generation” in China, Hong Kong, Macao, Taiwan, Southeast Asia, and South Korea. It is conducive to consolidating the long-term cooperative relationship between the two sides and laying a good foundation for continued cooperation. The company expects that the signing of this agreement will have a positive impact on the company's current year and future results.