Date: May 8, 2024 – Microware Group Limited's Executive Director, Mr. Huang Tianlei, represented the group at the third key project signing ceremony in Shanghai's Putuo District. This event not only marks a significant milestone in Microware's strategic expansion in the mainland China market but also signifies the group's formal commitment to deepening its involvement in the field of artificial intelligence.

In Putuo District, Microware successfully established two wholly-owned subsidiaries: Microware (Shanghai) Artificial Intelligence Technology Co., Ltd. and Microware (Shanghai) Technology Development Co., Ltd. This strategic move is aimed at catalyzing the group's comprehensive deployment in AI infrastructure technology research and market application. The newly established subsidiaries will focus on developing cutting-edge artificial intelligence technologies and expedite the industrial application of these innovations through technological innovation and team collaboration.

During the ceremony, leaders from the Putuo District outlined the region's developmental advantages and future plans, emphasizing Putuo's solid industrial foundation and strategic locational benefits as an ideal place for technological innovation and high-quality development. The Deputy Secretary of the District Committee and District Mayor, Mr. Xiao Wengao, stressed that Putuo will continue to provide comprehensive support and quality services to facilitate the rapid growth and expansion of businesses settling in the area.

Mr. Huang Tianlei stated, "Choosing Putuo District as the location for our new subsidiaries was driven not only by its locational advantages and industrial support policies but also by the efficient services and favorable business environment provided by the Putuo government, which align highly with our group's long-term development strategy. We anticipate breakthroughs in generative artificial intelligence and related high-tech fields through our investments in Putuo."

With the establishment of the new subsidiaries, Microware will enhance talent development and technological innovation, deepen collaborations with domestic and international partners, and explore new business models and technological applications. Leveraging the geographical and policy advantages of Putuo District, the group will accelerate the research and application of AI technology, driving continuous innovation and development within the group and the industry.

Looking ahead, Microware will maintain close cooperation with the Putuo District government and other key partners to explore and implement new strategic initiatives, ensuring a leading position in global technological innovation. We are confident in our investments and development in Putuo District and the broader Chinese market, looking forward to creating sustained progress and impact for society and the industry.