The Board of Yunnan Water Investment Co., Limited announced that on January 29, 2019, the Company, Guangzhou Engineering Contractor Group Co., Ltd. and Zhongdu Engineering Design Co., Ltd. entered into the Joint Venture Agreement, pursuant to which the parties to the Joint Venture Agreement agreed to establish the JV Company in Luoding (a county-level city), Yunfu City, Guangdong Province, the PRC with a registered capital of RMB 219,864,800. Pursuant to the terms of the Joint Venture Agreement, the JV Company will be owned as to 99% by the Company, 0.9% by Guangzhou Engineering Contractor and 0.1% by Zhongdu Engineering Design. The JV Company will be responsible for the investment, financing, construction, operation and maintenance and transfer of the PPP Project and take risks thereof.