Universe Pharmaceuticals INC announced that the Company entered into a letter of intent on April 23, 2021 for strategic cooperation with Kitanihon Pharmaceutical Co. Ltd., a Japanese company engaged in the research, development, manufacturing, and distribution of pharmaceutical and medical products. Pursuant to the LOI, both parties agree to jointly establish a flagship store on global.jd.com, a popular e-commerce platform in China offering overseas products. The Company agrees to operate the flagship store as an exclusive distributor to sell KP’s products. The Company will distribute KP's products across the Chinese and Southeast Asian markets through international e-commerce channels, to create growth opportunities for both parties. In addition, both parties agree to jointly establish a medical product research and development center to be named Universe Hanhe Medical Research Institute Co. Ltd. The Center will receive favorable policy treatment from the Chinese government. The Company will utilize its R&D capacity and medicinal resources, and KP agrees to employ its quality control standards and advanced technologies into the development of medical products.