F8 Enterprises (Holdings) Group Limited announced that on 8 March 2021, the company entered into a non- legally binding memorandum of understanding with Guangzhou Kaicang Fangliang Electronic Commerce Co. Ltd. pursuant to which, among others, the company and Kaicang will form strategic cooperation with each other to, among others, invest, produce, promote, develop and operate e-commerce related projects in the Mainland China and Hong Kong. The company and Kaicang will set up project teams and meet from time to time to discuss and explore the cooperation strategy. It is expected that through the strategic cooperation, the company and Kaicang will utilize their professional talents to build a strong network in order to strengthen the company's future growth and business development. Further, the company and Kaicang will explore new synergistic and other attractive proprietary business and investment opportunities which aim to maximise the value of the company for its shareholders.