The Board of Directors of the Company announced that Ni Hsin EV Tech Sdn. Bhd. ("NH EV TECH"), a wholly-owned subsidiary of the Company had on 1 August 2023 entered into a Business Collaboration Agreement ("BCA") with Delivery Hero Malaysia Sdn.

Bhd. (NH EV TECH and FOODPANDA are collectively referred to as the "Parties" and individually as the "Party") with the intention to collaborate in advancing the Parties' Environmental, Social and Governance ("ESG") agendas through jointly promoting and encouraging sustainable consumption among the riders within FOODPANDA Group by adopting EBIXON EV motorcycles in place of current internal combustion engine motorcycles, subject to and upon the terms and conditions of the BCA.