On 29 December 2020, Pacific Millennium Packaging Group Corporation and Chongqing Stone Tan entered into the Framework Agreement for the Lease Transactions for a term of 3 years commencing on 1 January 2021. For the better management of the Lease Transactions between the Group and Chongqing Stone Tan and in view that the Group is required to purchase more machinery and equipment to cope with its growing business through finance and/or operating lease, the Company and Chongqing Stone Tan agreed to terminate the Framework Agreement and, on 24 January 2022 (after trading hours), entered into the New Framework Agreement, pursuant to which Chongqing Stone Tan agreed to continue providing machinery and equipment lease service to the Group for the purchase of various machinery and equipment for the Group's business with the New Proposed Annual Caps for a term ending on 31 December 2024. Under the New Framework Agreement, Chongqing Stone Tan shall provide machinery and equipment lease service to the Group for the purchase of various machinery and equipment for the Group's business.

The Group and Chongqing Stone Tan shall enter into specific agreement in respect of each transaction contemplated under the New Framework Agreement in accordance with the principal terms under the New Framework Agreement.