According to the announcement released by PKU Resources (00618) on August 8, 2024, the company's one indirectly wholly-owned subsidiary signed a joint venture agreement with Suzhou Aozhe to establish a joint venture company.

According to the terms of the joint venture agreement, the registered capital of the joint venture company is RMB 0.15001 billion, and it will be funded and held by the group and Suzhou Aozhe at approximately 99.99% and 0.01% respectively. After the establishment of the joint venture company, its financial performance will not be merged into the company's financial statements.

According to the joint venture agreement, the joint venture company will invest or cooperate in the non-performing assets in China's real estate industry and the medical field. The proposed name of the joint venture company is Suzhou Aozhe No. 1 Investment Partnership Enterprise (limited partnership), but it can only be put into effect after approval from relevant government agencies.

The company believes that investing or cooperating in the non-performing assets in China's real estate industry and the medical field through the joint venture company is in line with the group's main business. The board of directors believes that the joint venture company provides a good business opportunity for the group, enabling the group to make long-term investments in the real estate and medical industries in China as a limited partner through this platform, while maximizing investment returns in conjunction with Suzhou Aozhe's experience and expertise.

Suzhou Aozhe is a wholly-owned subsidiary of Aozhe Fund (a professional private equity fund company registered with the China Securities Investment Fund Industry Association). The core business team of Aozhe Fund has rich experience in fund management, mainly engaged in investment and asset management. By providing capital, management improvement, and M&A services to invested companies, Suzhou Aozhe promotes rapid growth of the companies, realizing investment value appreciation, and creating more ideal investment returns for fund investors. It is expected that the establishment of the joint venture company will bring additional economic benefits to the group, and it aligns with the group's overall business strategy and long-term interests.