The board of directors of Binhai Investment Company Limited announced that Binhai Investment (Tianjin) Xinzhi Technology Co. Ltd., a wholly-owned subsidiary of the Company, entered into the R&D Cooperation Framework Agreement with Zenner Metering Technology (Shanghai) Ltd. Pursuant to the Cooperation Agreement, both parties will rely on their respective resource advantages to carry out extensive research and cooperation in the field of urban gas related technologies. Both parties will initially conduct research in four directions, including 1) new technology and product development; 2) research and development of customized products for the needs of specific target customers or markets; 3) software development and application promotion based on different scenarios in the gas industry; and 4) joint participation in the compilation of relevant technical standards in the gas industry and various forms of intellectual property rights cooperation.