The Board of Directors of the Company ("Board") wishes to announce that on 15 September 2020, GUH Renewable Energy Co., Ltd. ("GUHRE") (Company Registration No.: 83177643) a wholly-owned subsidiary of the Company has entered into a Memorandum of Understanding (the "MOU") with Hsinjing Holding Co., Ltd. ("Hsinjing") (Company Registration No.: 83423700) a company incorporated in Taiwan (R.O.C.) to collaborate with the aim of exploring business opportunities worth up to TWD 10,000,000,000.00 only within the renewable energy sector in Taiwan (R.O.C.). The MOU is entered into solely for purposes of a signing ceremony and shall not have any legal effect on any prior or subsequent agreements between the parties or their related entities. The collaboration between the parties shall be for the following purposes: To provide an opportunity for the parties to establish a collaboration; To explore business opportunities in the renewable energy sector in Taiwan (R.O.C.) on a non-exclusive basis. With an eye toward energy security, the green economy and environmental sustainability, on October 27, 2016 the Taiwanese Government approved a plan to promote green energy technology and industrial innovation as part of the government's "five plus two" innovative industries plan, which calls for 20% of Taiwan's energy to come from renewable sources by 2025. Of that 20%, nearly two-thirds (66.3%) will be solar power. The plan lays a clear path toward achieving this goal: 6.5 gigawatts (GW) of installed capacity by 2020 and by 2025 the full 20 GW. The collaboration provides opportunities for GUHRE to work with experienced local Taiwanese renewable energy player like Hsinjing in acquiring renewable energy projects in Taiwan (R.O.C.). The collaboration is in line with the Company's business strategy and this creates the potential for the Company to add a steady revenue stream from abroad.