The board of directors of Wasion Holdings Limited announced that, on 16 December 2021, the company entered into a strategic cooperation framework agreement with China Power International Development Limited (China Power) in relation to the establishment of a strategic cooperation relationship for the joint development of new energy and photovoltaic agriculture, energy storage, green power transportation and logistics services (the Cooperation Projects). Under the Strategic Cooperation Agreement, the parties will establish project companies for the development of the Cooperation Projects. The initial focus of the cooperation will mainly be in the six provinces of Ningxia, Hunan, Gansu, Jiangxi, Shanxi and Inner Mongolia, and will be extended to other parts of China and overseas. The Strategic Cooperation Agreement represents an intended strategic cooperation arrangement, the specific terms of which are subject to further negotiation, confirmation and the entering into of formal agreements between the Company and China Power.