The board of directors of China Creative Global Holdings Limited announced that on September 15, 2021 entered into a Memorandum of Understanding with Gold Future Industrial Limited to form a strategic alliance. Pursuant to the Agreement, the substance, terms and conditions of such relationship is still under negotiations between the parties and the alliance may be in form, including but not limited to, by forming a jointly owned company, establishing holding company and subsidiary relationship and etc. The company is principally engaged in the business of design, development, manufacture and sales of home decor products and electric fireplaces. As disclosed under the company’s 2019 interim report, the Company intends to expand its existing business by tapping into the development and manufacturing of fresh air system. In this respect, the Board believes that, through the business channels of Gold Future, the strategic alliance would not only expand the Company's business and enhance its returns but would also increase its market competitiveness in overseas markets. Moreover, the design and development teams of Gold Future in the PRC may also assist the company to enhance its product designs and creations in future. The Board is of the view that the strategic alliance will maximise the future contribution to the company and is in the interest of the company and the shareholders of the company as a whole.