The board of directors of JIN MI Fang Group Holdings Limited announced that on 18 June 2024, the Company entered into a strategic cooperation agreement with a supplier in relation to the business cooperation between the parties for sales and distribution of food products (such as chicken and beef). Pursuant to the Strategic Cooperation Agreement, the parties agreed, among other things, that (i) the Company shall provide sales channels to the Supplier for the sale and distribution of the Supplier's products in the People's Republic of China; (ii) the Supplier shall provide high quality products and services to the Company at competitive prices; and (iii) the parties shall establish a team to proactively promote the above-mentioned cooperation and shall be jointly responsible for negotiation and daily coordination of the cooperation projects under the Strategic Cooperation Agreement. The Strategic Cooperation Agreement shall be valid for a term of two years.

The company is an exempted company and an investment holding company incorporated in the Cayman Islands with limited liability, having its shares listed on GEM of The Stock Exchange of Hong Kong Limited. The Group is principally engaged in the provision of catering services through a chain of casual dining restaurants in Hong Kong and the supply of Chinese baijiu in the People's Republic of China. Based on information available to the Company, the Supplier is a company incorporated in Hong Kong with limited liability and a wholly-owned subsidiary of a company whose shares are listed on the Main Board of the Stock Exchange.

The principal activities of the Supplier and the listed group include distribution and trading of fresh and live food products. The Group is principally engaged in the provision of catering services through a chain of casual dining restaurants in Hong Kong and the supply of Chinese baijiu in the People's Republic of China. In January 2024, the Board resolved to develop a new business relating to the supply of Chinese baijiu in the People's Republic of China, including but not limited to brand management, customisation, marketing and distribution of premium Chinese baijiu, with a focus on business-to-business sales of Chinese baijiu.

This represents the Company's initiative in business diversification on top of its existing catering business in the post- pandemic era, with the intention of enhancing the revenue base of the Group. In addition to the supply of Chinese baijiu business, the Company has been activity exploring new business opportunities in order to bring higher return to its shareholders. The entering into of the Strategic Cooperation Agreement represents an invaluable opportunity for the Group to tap into the business segment of sales and distribution of food products through cooperation with the Supplier, being a prominent and solid market participant.

Based on information available to the Company, the Supplier is principally engaged in distribution and trading of a wide spectrum of fresh and live food products, including organic vegetables, seasonal fruits, fresh meat, frozen meat, specialty poultry and eggs, seafood, grain and oil products and other general food items. The existing distribution channels of the Supplier range from supermarkets and wet markets to retail stores and online platforms. The Company believes that its cooperation with the Supplier will create synergy for both parties, enabling the Group to diversify its business and revenue source in furtherance of the Group's existing catering business with the supply of quality food products by the Supplier which is an established market player on one hand, and utilising the distribution resources of the Company to enhance the market outreach of food products of the Supplier on the other hand. In order to fully capitalize the competitive advantages derived from distribution channels available to the Group pursuant to the Strategic Cooperation Agreement, the Company established a wholly-owned subsidiary, Jin Mi Fang (Nanjing) Catering Management Company Limited (), in Nanjing, Jiangsu Province, the People's Republic of China in June 2024, for the development of catering and related supply chain business across the People's Republic of China.