On September 12, Gelonhui announced that on September 11, 2024, WMEL (a wholly-owned subsidiary of the company) and RZHL entered into a joint venture agreement regarding the establishment of a joint venture in Singapore. According to the joint venture agreement, WMEL and RZHL will each hold a 50% equity stake in the joint venture. The joint venture will not become a subsidiary of the company, and its financial performance will not be consolidated into the group's accounts.

According to the joint venture agreement, the joint venture company has a capital of 2.8 million US dollars. The joint venture company is responsible for overseeing and managing the following operations of the operating company: (a) acting as an agent for the group's distribution, marketing, and sales of products, where the joint venture company facilitates and coordinates third-party purchases of products from the group and manages overseas branches and teams, and (b) executing the company's overseas investment, merger and acquisition projects. The joint venture company and/or the operating company should be the preferred executing entities for the company's overseas new project investments and/or overseas merger and acquisition projects, subject to market principles and compliance requirements, but this does not limit the company's investment in new projects and overseas merger and acquisition projects through other entities.

The announcement stated that the joint venture agreement aligns with the company's internationalization strategy and multi-channel strategy, which will enable the group to seize new opportunities in the technology manufacturing sector and create an influential "Eastern" brand. It is expected to expand the group's high-quality customer base and establish an international market operation network, in order to achieve comprehensive global operations.