The China Silver Technology Holdings Limited announced that on 13 August 2021, the Company entered into the Project Agreement with the County Government in relation to the proposed investment by the Group of the New Production Lines at the New Factory. Key Terms of The Project Agreement: The Company intends to establish a new wholly-owned subsidiary in Chongren County, Jiangxi Province, the PRC (the Project Company) to carry out the Project. The New Factory is expected to have a gross floor area of approximately 20,000 sq.m. The Company intends to construct seven new production lines of printed circuit boards (PCBs) and light-emitting diode (LED) in the New Factory, which are expected to commence commercial operation within five months after the delivery of vacant possession of the New Factory by the landlord to the Project Company. The County Government expects the Company to achieve certain level of investment amount on the manufacturing facilities, provide employment opportunities to the local community, achieve certain level of annual sales and pay taxes. Subject to fulfillment of annual sales and other performance targets, the Project Company may be entitled to be considered for eligibility of local incentive policies from time to time applicable to investing enterprises in the Hi-Tech Zone. Details of The Project: The County Government is an Independent Third Party. Based on the current development plans formulated by the Group, the total investment budget for the Project is currently estimated to be RMB500 million, which is expected to be invested in stages and financed from the Group's internal resources, external borrowings and equity fund-raisings. The Company is currently in negotiations with financial institutions and potential investors to explore different fund-raising alternatives, but no binding agreement has been entered into yet. Further announcement(s) will be made by the Company if and when any of these fund-raising plans materialize. The timetable for the implementation of the Project is subject to the development of events, such as the selection of premises for the New Factory, the negotiation of terms of lease, the signing of tenancy agreement and the delivery of vacant possession of the New Factory by the landlord to the Project Company. The Company will comply with the Listing Rules when the terms of the lease regarding the New Factory are finalized in due course.