The board of directors of Cool Link (Holdings) Limited announced that on 2 March 2023, the Group entered into a memorandum of understanding with Guangdong Shengke Digital Technology Company Limited in relation to the strategic cooperation with the Counterparty. The cooperation models include but not limited to the intention of both parties to jointly establish a joint venture in China in the next three years, the operation of a digital sales platform for health management services, the intention to utilize the biotechnological human bioelectric testing equipment device applications and database modeling resources and comprehensive health product supply chain resources, the operation of an online health management platform, the provision of health management and testing services, as well as the sale of health products and supplements for different consumers' needs on healthcare. The Board believes that entering into the MOU allows both parties to leverage on each other's competitive advantages, resources and expertise to establish a stable and mutually beneficial partnership.

Upon the implementation of the Possible Cooperation, the Group will be able to explore the health products market in China, to develop its health management service business, which will enhance the Group's business diversification, bringing potential sales growth. The Possible Cooperation is in the interests of the Company and the shareholders as a whole. The MOU represents the preliminary mutual understanding of both parties and does not constitute any legally binding undertaking regarding the Possible Cooperation, except that the parties agreed to be bound by certain confidentiality clauses under the MOU according to laws and regulations.

The Possible Cooperation is subject to further negotiation and execution of a formal agreement (if any) by the relevant parties and further announcement(s) will be made by the Company as and when appropriate.