Evershine Group Holdings Limited announced that on 11 August 2022 entered into a Memorandum of Understanding with Shenzhen Qianhai Yindun Financial Services Co. Ltd. ("Yindun Financial Services") to form a strategic alliance. The Company is principally engaged in investment holding company mainly engaged in property development and investment business.

Along with subsidiaries, the Company operates its business through five segments. The Property Development and Investment segment is mainly engaged in building construction, property development and construction materials trading and related consulting services and property leasing business in Turkey and Hong Kong. The Money Lending segment is engaged in money lending business in Hong Kong.

The Trading segment is engaged in the trading of Onyx marbles and red wine. The Cemetery segment is engaged in the construction and operation of the cemeteries in Mainland China. The Mobile Application segment is engaged in development of mobile games, game publishing, applications, related intellectual property and platform, and provision of related solutions.

The Board of the Company considers that the strategic alliance can provide the Company opportunities to expand its existing business by tapping its investment management services in the PRC and, in the meantime, the Company can also share with Yindun Financial Services its professional experiences on investment management, thereby achieving synergy effects and obtaining more incomes from the services. Further announcement shall be made in this respect as when and where appropriate. The Board is of the view that the strategic alliance will maximise the future contribution to the Company and is in the interest of the Company and the shareholders of the Company as a whole.