OneForce : VOLUNTARY ANNOUNCEMENT - COOPERATION AGREEMENT OF GARBAGE CLASSIFICATION BUSINESS AND OTHER BUSINESS UPDATE

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OneForce Holdings Limited

元力控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1933)

VOLUNTARY ANNOUNCEMENT

COOPERATION AGREEMENT OF GARBAGE CLASSIFICATION

BUSINESS AND OTHER BUSINESS UPDATE

This announcement is made by OneForce Holdings Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to provide its shareholders and potential investors with update information in relation to the latest business development of the Group.

The board ("Board") of directors of the Company is pleased to announce the following latest progress on the smart city IoT business of the Group:

1. On 24 July 2020, Beijing Beikong Zhike Energy Internet Company Limited ("Beikong Energy Internet"), an associate of Group, entered into a cooperation agreement ("Cooperation Agreement") with Urban Administration Bureau of Licheng District, Jinan, Shandong Province (山東省濟南市歷城區城市管理局) ("Licheng UAB", together with Beikong Energy Internet, the "Parties") in relation to garbage classification and construction of smart city. The Parties will carry out comprehensive cooperation in urban and community garbage classification and construction of digital city. Beikong Energy Internet will utilise its advantages of technology and market resources in the field of smart city IoT, to provide planning, designing and technical supporting services to Licheng UAB in investment, construction, and operation of community garbage classification projects.
   Since 2020, China has been stepping up efforts to implement garbage classification nationwide, stimulating a huge demand for technology and products related to smart garbage classification. The cooperation between Beikong Energy Internet and Licheng UAB will enable the Group to develop its smart city IoT business smoothly with the community garbage classification project as the entry point.
2. The Group had recently achieved significant progress in relation to its smart city project in Mentougou District, Beijing, where the Group had commenced to provide smart lampposts mounting services for public safety smart devices in such area. This business will generate stable revenue for the Group and enable the Group to build a good foundation in the operation of smart city IoT business.

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In addition to the above business update, the Group is also actively developing a number of projects related to power IoT and smart city IoT. Further announcement(s) will be made by the Company on a voluntary basis to keep the shareholders of the Company informed of the progress of such projects.

By order of the Board

OneForce Holdings Limited

WANG Dongbin

Chairman

Beijing, PRC, 27 July 2020

As at the date of this announcement, the Board comprises Mr. Wang Dongbin, Mr. Wu Zhanjiang, Mr. Wu Hongyuan and Mr. Li Kangying as the executive Directors; and Mr. Ng Kong Fat, Mr. Han Bin and Mr. Wang Peng as the independent non-executive Directors.

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