The board of directors of Luen Wong Group Holdings Limited announced that, on 19 June 2023, the Company entered into a non-legally binding strategic cooperation memorandum of understanding with Zhongshi Wanmin (Nantong) Health Technology Co. Ltd. (Zhong Shi Wan Min (Nan Tong)Jian Kang Ke Ji You Xian Gong Si) ("Zhongshi Wanmin"). Under the MOU, the Company and Zhongshi Wanmin intend to establish a strategic partnership.

The parties intend to integrate industry resources and cooperate in development of healthcare operation platform and to jointly develop online and offline healthcare retail network in the People's Republic of China, thus creating a win-win situation as well as sustainable strategic cooperation partnership.