The Board of Huayi Tencent Entertainment Company Limited announced that, in view of, among other things, the potential strategic synergies with Goldstream Investment Limited, on 19 April 2024, the Company and Goldstream Investment entered into a strategic cooperation framework agreement. Pursuant to the Strategic Cooperation Framework Agreement, the Company and Gold stream Investment will, subject to further negotiation of final definitive agreements, commence potential cooperation in areas including overseas strategic development and capital markets initiatives, and to explore and evaluate overseas merger and acquisition opportunities. The Board considers that the entering into of the Strategic Cooperation Framework Agreement would provide broader opportunities for the Group to explore overseas opportunities and to further diversify its businesses and operation, and is in the interests of the Company and its shareholders as a whole.

Goldstream Investment is principally engaged in the provision of investment management business and the strategic direct investment business. Goldstream Investment is majority owned by Hony Capital Group, which is also the ultimate beneficial owner of the subscriber of the convertible bonds issued by the Company in March 2024. To the Directors' best knowledge, information and belief, and having made all reasonable enquiries, saved as disclosed above, Goldstream Investment and its ultimate beneficial owners are independent third parties and not connected with the Company or any of its connected persons.

The Board emphasize that no formal or legally binding agreement in relation to the Strategic Cooperation has been entered into between the Company and Goldstream Investment as at the date of this announcement. As such, the Strategic Cooperation may or may not be materialized. In the event that the Company enters into any formal agreement in relation to the Strategic Cooperation, further announcement(s) will be made by the Company in accordance with the Listing Rules as and when appropriate.