Beijing Capital Jiaye Property Services Co., Limited announce that on December 28, 2021, the Company entered into the Promoters Agreement with Qinglong Company. The JV Company will mainly engage in residents and public facilities property services, urban public facilities operation and management and other extended property management services in Yanqing District, Beijing. The registered capital of the JV Company is RMB 10,000,000, of which the Company plans to contribute RMB5,100,000 in cash to hold 51% of the equity interest of the JV Company; Qinglong Company plans to contribute RMB 4,900,000 in cash to hold 49% of the equity interest of the JV Company. The Company's planned capital contribution of RMB 5,100,000 will be funded by internal resources of the Company. The proceeds from the Company's initial public offering will not be used to pay such amount.