Pingtan Marine Enterprise Ltd. announced it has signed a Strategic Cooperation Framework Agreement with World Telecom Satellite Technology Limited and Wuhan Incar Technology Limited ('Incar'), an Internet of Things (IoT) platform company. This strategic cooperation intends to explore the construction of a new generation of high-speed information platform, PME-Live, for pelagic fishing vessels based on Wotelsat's Dragon X global satellite broadband network and China Unicom's 5G communication technology, and to establish an aquatic products production, supply and marketing tracking management platform, PME-Track. PME-Live will have technical support from satellite+5G integrated communication technology in order to establish the direct communication channel between pelagic fishing vessels and mass urban consumers located thousands of kilometers away from the ocean. PME-Live also aims to provide entertainment and leisure services for the Company's crew members, to relieve fatigue and stress from working in the ocean for a long period of time and to improve work efficiency and satisfaction. The tracking management platform, PME-Track, will be supported by blockchain technology to provide transparency and quality assurance to the Company's consumers. Pursuant to the Agreement, the Company along with Wotelsat and Incar will soon start a joint project working group to carry out preparatory work and test pilot.