The board of directors of the China Greenfresh Group Co., Ltd. announced that, on 28 April 2021, the Company entered into a strategic cooperation framework agreement with Guangming Furui Investment Management (Shanghai) Co., Ltd. ("Guangming Furui") and Zhejiang Zhaoyuan Hengli Investment Management Co., Ltd. in relation to the business cooperation in the acceleration of the development and integration of the plant protein industry in Yunnan Province (the "Strategic Cooperation"). Pursuant to the Framework Agreement, the Parties intend to establish the Yunnan Provincial Plant Industry Development Fund with Guangming Furui being the manager of the Fund. The Fund's investments will focus on resource optimization, technical upgrade, market expansion and industrial integration of the plant protein industry in Yunnan Province. Throughout the close strategic cooperation, the Parties will further strengthen their respective advantages, enhance operational efficiency, realise the strategy to achieve mutual benefit. The Parties will form a cooperative leadership team and hold regular or irregular meetings to communicate and discuss related issues on their cooperation projects. The Framework Agreement is effective for two (2) years from the date of its execution by the Parties. The Framework Agreement merely provides a strategic cooperation framework between the Parties. Save for the terms in relation to, among others, confidentiality contained in the Framework Agreement, the Framework Agreement is not legally binding. Details of the Strategic Cooperation, the specific terms and the consideration of the businesses will be determined by the Parties after further negotiation and signing of a definitive agreement.