K Group Holdings Limited announced that, on 10 February 2021, the company entered into a non-legally binding memorandum of understanding with Hong Kong People Health Chinese Medicine Biotechnology Limited in relation to the potential cooperation with the partner to explore potential collaboration opportunities that leverage upon the strengths of both the group and the partner and its subsidiaries, so as to bring mutual benefits to each other. The company and the partner will commence discussion on the possible ways of potential collaboration shortly, which may include, without limitation, (i) the formation of a joint venture between the company (and/or its subsidiary) and the partner; or (ii) the company's and/or the company's subsidiary(ies)' investment in the partner; or (iii) cooperating with the partner group to incorporate healthy chinese traditional ingredients into the food offered in the Group's restaurants. The Partner hereby appoints Ms. Liu Yiting as its representatives to promote the potential collaboration. Ms. Liu received the Bachelor of Pharmacy in Shanxi Institute of International Trade and Commerce. Upon the conclusion of the Discussion, a formal agreement may be signed between the parties.