Casablanca Group Ltd. has provided an update on its joint venture company, Casa Living, which was formed to expand the Group's new retail business through online sales and e-commerce both in China and overseas markets. The Group has entered into a new cooperation agreement involving Hangzhou Dingyuan and Hangzhou Gaoshi, which will provide resources and support for exploring and expanding Casablanca's Cross-border Ecommerce Project. The agreement also involves the establishment of a Hangzhou Branch Company and the recruitment of a management team to further focus on the development of the new retail business. The Board of Casablanca Group considers the terms of the agreement fair and reasonable, and in the best interests of the company and its shareholders.

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