The Board (the "Board") of Farnova Group Holdings Limited announced that on 15 June 2021, the Company entered into a framework cooperation agreement (the "Cooperation Agreement") with Shenzhen Cheyun Digital Technology Co. Ltd. ("Cheyun Technology") and Shenzhen Xingchenhai Fund Management Co. Ltd. Main contents of the cooperation: Jointly establish and manage a new energy vehicle industry fund; Provide a referral between investment projects and investors; Co-found a partnership or company to carry out investment business; Provide other resources and supports to each other. The Cooperation Agreement is legally binding, but the cooperation details as well as specific terms and conditions are subject to further negotiations among the above parties and the signing of the definitive and formal agreement. As at the date of this announcement, the above parties have established Shenzhen Xingnuoyun Future Investment Co. Ltd. in accordance with the Cooperation Agreement. Furthermore, the Company, Cheyun Technology and Xingchenhai Fund have entered into no formal agreements in relation to any specific cooperation projects.