On December 17, Glorious Group announced that CH BEIDAHUANG (00039.HK) recently signed a cooperation framework agreement with the People's Government of Jiangcheng Hani and Yi Autonomous County ("Jiangcheng Government") based on the principles of equality, cooperation, mutual benefit, and honesty. The group's subsidiary, Hunan Magic Food Technology Co., Ltd. ("Magic Food"), is currently a manufacturing enterprise primarily focused on konjac raw materials and konjac products, with its upstream mainly in the agricultural and sideline product processing industry, and its downstream in food manufacturers, brand operators, and direct consumers. Magic Food purchases konjac flour for further processing into konjac raw materials and konjac products, ultimately earning profits through product sales. The main purpose of signing this agreement is to achieve the complete industry chain of konjac cultivation, primary processing, deep processing, and sales, as well as to reduce costs. Building a new factory mainly involves the primary processing of konjac into konjac flour, which also indirectly expands the output of other related konjac products.

Jiangcheng Hani and Yi Autonomous County ("Jiangcheng") is located in the southern part of Yunnan Province, bordering Vietnam and Laos. It has a national-level port, the China-Laos Mengkang Port ("Mengkang Port"), as well as three border passages. The Jiangcheng Government sincerely welcomes the company to invest and build processing plants in Jiangcheng to conduct deep processing of konjac imported through Mengkang Port.