Roan Holdings Group Co., Enters into Investment Cooperation Agreement for a New Energy Storage Project

BEIJING and HANGZHOU, China, June 8, 2022 /PRNewswire/ -- Roan Holdings Group Co., Ltd. ("Roan" or the "Company") (OTC Pink Sheets: RAHGF and RONWF), a comprehensive solution provider for industrial operations and capital market services, announced today that the Company has entered into an investment cooperation agreement (the "Agreement") for a new energy storage industrial park with Jiaxing Economic and Technological Development Zone.

Pursuant to the Agreement, the new energy storage industrial park (the "Jiaxing Project") would consist of an innovation and research center and two manufacturing facilities for new energy storage. The total investment is expected to be RMB 5.1 billion.

Jiaxing Committee has agreed to provide certain types of support to the project, including favorable government policy support, funding support and resources. Roan will be responsible for the implementation and operation of Jiaxing Project pursuant to the Agreement.

Mr. Junfeng Wang, Chairman of the Board commented, "We are very excited to announce this cooperation with the Jiaxing Economic & Technological Development Zone, which not only marks a breakthrough and significant milestone of our strategic planning since the second half of 2021 but also demonstrates the success of the strategic leadership of our industrial operation services team which focuses on new energy, new materials and semiconductor industries. As a comprehensive service provider of industrial capital and industrial operation in emerging industries, Roan regards the new energy industries as a key business area in the market. We will adhere to the development concept of 'synergy between industry, finance and symbiosis of partners', and build stable growth and a sustainable industrial ecosystem with our partners."

Mr. David Zhang, Executive President of the Company added: "The Jiaxing Project is important to the Company. This project will centrally and efficiently combine all the resources around energy storage, from materials to batteries, and equipment manufacturing. It is expected to take the lead in driving the development of the energy storage industry in the Yangtze River Delta region and become a model for the development of the new energy industry. The favorable policy, financial and resource assistance from the Jiaxing government shows significant support for the project. We aim to take advantage of our industrial financing service capability, our experience and resource advantages to provide industrial financing and operation services for all parties in the industrial park, bringing economic and social benefits to Jiaxing city, and creating sustainable financial returns for our shareholders."

About Roan Holdings Group Co., Ltd.

Founded in 2009, Roan Holdings Group Co., Ltd. (OTC Pink: RAHGF and RONWF) is a comprehensive solution provider for industrial operation and capital market services. Adhering to the platform strategy of "cross collaboration, technology empowerment, sustainability and stability, and combination of operation and finance resources", the Company's services focus on the new energy, new materials, and semiconductor industries. At the same time, the Company focuses on the application of innovative technologies in the consumer industry with respect to financial consumption, cultural and tourism consumption, and great health ecosystem. Roan aims to provide comprehensive solutions and supporting services for diversified institutional and local government clients across the entire industry chain. Roan has offices in Hangzhou and Beijing and subsidiaries in Hangzhou, Ningbo, Shaoxing and Tianjin. For more information, please visit: www.roanholdingsgroup.com.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among others, the consummation of the proposed transaction, and can be identified by terminology such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions.   Examples of such statements include that the total investment is expected to be  RMB 5.1 billion; that the project will combine centrally and efficiently all the resources around energy storage, from materials to batteries, and equipment manufacturing; and that the project will take the lead in driving the development of the energy storage industry in the Yangtze River Delta region and become a model for the development of the new energy industry , Such statements are based upon management's current expectations of the consummation of the proposed transaction, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control. Examples of such risks include whether the project will come to fruition, whether the government will fund the project, and whether there is demand for tenants in the project.  Further information regarding these and other risks, uncertainties or factors are included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

IR Contact:

At the Company:
Katrina Wu
Email: xiaoqing.wu@roanholdingsgroup.com
Phone: +86-571-8662 1775

Investor Relations Firm:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)

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SOURCE Roan Holdings Group Co., Ltd.