The board of directors of RENHENG Enterprise Holdings Limited announced that on 7 January 2020, the company entered into a strategic cooperation agreement with The Northern Research Institute of NJUST. Pursuant to the Strategic Agreement, the Company and The Northern Research Institute of NJUST will establish a long-term strategic partnership to put their respective advantages into full play and consolidate the resources in order to make positive contribution to the development of intelligent technology market as well as to realize the strategic goals of resources sharing and joint development. The Strategic Agreement serves to provide a framework setting out the principles in respect of the cooperation. The Company and The Northern Research Institute of NJUST will further negotiate to determine the content of the cooperation. The Northern Research Institute of NJUST was jointly established by the People's Government of Hexi District, Tianjin, and Nanjing University of Science and Technology of China. It has strong research and development capabilities and proven track record on scientific research. To the best knowledge, information and belief of the Directors having made all reasonable enquires, The Northern Research Institute of NJUST and its ultimate beneficial owners are independent of the company and its connected persons (as defined in the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.