CW International (Shanghai) Co. Ltd. and Zhejiang Hua Hang Investment Limited have entered into a letter of intent in relation to the formation of a joint venture company. Pursuant to the Letter of Intent, it is expected that the joint venture Company will be established with a registered and paid-up capital of RMB 1 million, to be held as to 50% by each of CWISH and Zhejiang Hua Hang, respectively. The joint venture Company, under this strategic cooperation, will be formed for the purpose of delivering industrial design and human-centered process solutions to clients in the PRC, who are seeking to integrate technologies from the Fourth Industrial Revolution ('Industry 4.0'), a German concept which aims at automating and digitalising the manufacturing industry.