China Green Island Technology (02023) intends to acquire two industrial sites in Sanmen County, Zhejiang

China Green IslandScience and Technology (02023) issued an announcement that two industrial sites and supporting sites of about 25 hectares and 5 hectares in Sanmen County, Zhejiang Province, China (reserved for the construction of aerosol production workshops, headquarters office buildings, R&D centers, office buildings, The Quality Control and Testing Center and the staff dormitory, etc.) have been planned by the Sanmen County People's Government for the development of an aerosol health industrial park.

In view of the fact that the land will cooperate with the main business of the Group (namely the production and sale of aerosols and related products), on May 21, 2019, Green Island Technology, through its indirect wholly-owned subsidiary Zhejiang Green Island Industrial Co., Ltd. The People’s Government of Menxian County submitted an investment proposal regarding the possible acquisition of such land. The investment proposal is subject to the statutory bidding process of the Sanmen County People's Government.

Ludao Technology intends to use these lands as construction facilities and supporting facilities for various aerosol products of the Group. Therefore, in terms of location, area and time, the possible acquisition will provide the Group with an appropriate opportunity to cooperate with its expansion plan.