NEW CONCEPTS (02221) announced that the company has entered into a strategic cooperation agreement with Beijing Yisheng Environmental Protection Energy Technology Co., Ltd. (Beijing Yisheng) on August 7, 2025. Based on the extensive experience and resources of both companies in their respective fields, and leveraging their industry advantages, the contracting parties will establish a close alliance to conduct in-depth cooperation in the used cooking oil (UCO) business sector.

The strategic cooperation agreement primarily includes:

1. Integration of Domestic UCO Resources The parties will integrate the Group's existing and future domestic UCO resources, with Beijing Yisheng conducting unified procurement and sales according to current market conditions. The contracting parties shall jointly explore additional domestic UCO procurement channels from other suppliers in the Chinese mainland market to expand UCO resource sources.

2. Urban UCO Field Development The contracting parties will jointly promote the development of the "urban UCO field" in the Chinese mainland market and establish a UCO management center, which will serve as the primary responsible and implementing entity. The center will oversee the technological development, manufacturing, procurement, installation, and management of oil-water separation equipment, ensuring comprehensive collection of waste oils from the source.

3. Overseas UCO Trading Market Integration The parties will integrate resources in overseas UCO trading markets, focusing on expanding trading business for UCO including waste palm oil in export markets such as Europe, the Americas, and Southeast Asia.

4. UCO Industry Supply Chain Management Joint responsibility for the entire process of UCO collection, procurement, testing, and trading, ensuring the interests of contracting parties in terms of quality, fairness, compliance, and profitability.

The Group's existing food waste processing projects involve UCO collection and production, with primary UCO processing capabilities. However, due to limitations in the Group's internal channel resources, it is necessary to establish comprehensive and trusted cooperative relationships with external professional UCO companies. This cooperation will expand procurement and sales channels, thereby achieving significant business expansion and mutual benefits.

Beijing Yisheng will exclusively supply all externally collected and transported UCO to the Group's project companies for processing and subsequent sales. This cooperation marks an important step forward in deepening UCO-related project and business collaboration. By leveraging the advantages of each contracting party, this alliance aims to expand procurement and sales channels, improve operational efficiency, and achieve significant business growth and mutual benefits.