On June 6, 2024, EZtech (08475) announced that it had signed a memorandum of understanding (MOU) with Shenzhen-based Hope Light Health Technology Co., Ltd. (collectively referred to as 'partners') to expand innovative businesses related to rural revitalization, such as public welfare programs (including public welfare supermarkets) and green food (including local dining), through leveraging their respective advantages and the resources of other partners. This is aimed at the Shenzhen and domestic markets.
Hope Light Health Technology is a joint-stock enterprise controlled by Huanao OCO Holdings (Shenzhen) Co., Ltd., a backbone business in the field of stem cell research, preparation, and market operation in China. It is also the service and executive agency of the Hope Light Public Welfare Fund under the Hainan Mozi Charity Foundation.
The Board of Directors believes that exploring opportunities to expand its existing business portfolio and engage in new business operations with growth potential and expanding its sources of income is beneficial to the company. The Directors believe that this action is in line with the overall interests of the company and its shareholders.