The board of directors of Activation Group Holdings Limited announced that the Group has reached an in-depth co-creation cooperation agreement with Beijing Baidu Netcome Science and Technology Co. Ltd., a subsidiary under Baidu, Inc., on 25 July 2022. D UNIVERSE, which is designed and developed by both parties, will officially enter the Baidu Xirang Metaverse Platform.

In this regard, the Company will form a strong alliance with Baidu Netcome in the field of metaverse where the future virtual world and real world become intertwined, thereby creating a new world with the power of digital design. D UNIVERSE targets to provide an imaginary space for future urban experience and a digital platform for brand business growth. As the first metaverse product in China, Baidu Xirang relies on Baidu's technology and practical experience in the fields of artificial intelligence (AI) and cloud computing, and upholds the concept of openness and common prosperity, with the aim of building a solid metaverse infrastructure platform.

The Group and Baidu Netcome will focus on the development of buildings in the metaverse, provide field design with brand experience as the core, and conduct in-depth collaboration with their own IP and cooperation in multiple sectors such as digital collections, so as to jointly create a city-level metaverse experience solution with a global leading position.