The board of directors (the Directors) of Wai Hung Group Holdings Limited (the Company) announced that on 28 July 2020, the Company entered into a framework cooperation agreement (the Framework Cooperation Agreement) with Jiangxi Ning Yu Lithium Battery Manufacturing Company Limited (Jiangxi Ning Yu), pursuant to which the Group intends to supply Jiangxi Ning Yu with boron, lithium, potassium and other resources on the most favorable terms, and Jiangxi Ning Yu intends to provide the Group with patents and production technologies for long-life energy storage lithium battery (the Lithium Battery) on the most favorable terms.