The board of directors (the "Directors") of CT Vision (International) Holdings Limited announced that on 29 June 2020, the Company entered into a cooperation framework agreement with State Power Investment Group (Beijing) New Energy Investment Co. Ltd. and a cooperation agreement with Contemporary Amperex Technology Co., Limited. The cooperation between the Company and SPIC Beijing mainly includes the following: The Company and SPIC Beijing agreed to commence cooperations (including the project investment, development, construction and operation) in all new energy projects (including but not limited to the wind power energy storage projects) and to develop an in-depth strategic cooperation relationship; and SPIC Beijing agreed that it will give priority to the Company for implementation of the energy storage projects of the wind power projects it has invested in.

The Company will provide SPIC Beijing with energy storage solutions and products that meet the needs of the relevant projects. The cooperation between the Company and CATL mainly includes the following: The Company will assist SPIC Beijing in development and construction of the energy storage projects and the Company and CATL will jointly launch the implementation of the energy storage projects; CATL will provide the Company with the standardised and customised products and technical services in response to the actual market demands and customer demands of energy storage, and the Company and CATL will commence technical cooperation; and CATL and the Company will jointly (a) carry out in-depth research on wind power, photovoltaic power and energy storage projects; (b) look for commercially viable projects for implementation; and (c) promote the development of the new energy industry. The Board considers that the Cooperation Framework Agreements were entered into in the ordinary course of business of the Company and on normal commercial terms after arm'slength negotiation, and such cooperation is in the interests of the Company and its shareholders as a whole.