On May 31, 2024, the company has respectively signed non-legally binding strategic cooperation memorandums of understanding with Zhe****guo Catering Management Co., Ltd. ("Zhe****guo"), Wuxi Blan Bear Catering Management Group Co., Ltd. ("Wuxi Blan Bear"), and Jinggu Yi Pin Brand Operation and Management (Suzhou) Co., Ltd. ("Jinggu Yi Pin").

According to the memorandum, the company and the parties intend to: (1) provide the highest quality digital transformation support for each party, help them better respond to market challenges and seize opportunities; (2) establish joint ventures, use the company's expertise in digital transformation and technological innovation to achieve more efficient operation and innovative products and services; and (3) provide comprehensive support for each party, help them better understand consumer demand and market trends, and thus enhance their competitiveness.