It is reported that the company has signed the Framework Agreement of Qingdao Municipal Government and Social Capital Cooperation (PPP) Fund with five enterprises, including Party A's China Railway 17th Bureau, Party B's Qingdao Bank and Party C's Zhongzhuang Construction, Party D's China Investment Association's Emerging Industry Center, and Party E's ant fortune Investment Fund Management Co., Ltd., with a total scale of 1 billion.

Chinese Online, as Party D, participates in the cooperation of the Fund, and Party D, as an industry consultant of PPP Fund, provides policy and technical support services for the Fund in terms of national industrial policy, PPP policy, fund structure, share raising and financial calculation.

the agreement stipulates that "the fund adopts multi-manager mode, with Party E as the manager; The total scale is 1 billion, and the priority investor is Qingdao Bank or the joint investor with Qingdao Bank as the lead bank, and the subscribed capital contribution accounts for 8% of the total amount; The secondary and inferior subscribed investors are other parties, accounting for 2% of the total amount. The fundraising method is to raise funds by stages, without setting up a fund pool, and it is necessary to follow the principle of project start-up, that is, the PPP project must actually exist before the fund can be raised. "