The Board of Beijing Luzhu Biotechnology Co. Ltd. (company) announced that, after a tendering process, on August 30, 2023 (after trading hours), Luzhu Biologics (Beijing) Co., Limited (Beijing Luzhu) (a wholly-owned subsidiary of the Company) entered into the Construction Contract with Hebei Construction Group Corporation Limited (Hebei Construction), the successful bidder, pursuant to which Hebei Construction undertakes to provide construction services for the Development Project at the consideration of RMB 75,175,955.00 (equivalent to approximately HKD 80,893,838.14), subject to adjustment (if any). Subject matter: Hebei Construction as the contractor shall be responsible for the construction works of the Development Project in accordance with the relevant construction blueprints and engineering work schedule.

Construction period: The construction works are expected to be completed within 275 calendar days after commencement. The expected commencement date is September 1, 2023 (subject to the commencement order signed by the supervisor) and the expected completion date is June 1, 2024.