On October 8, 2016, the Group signed the Strategic Cooperation Framework Agreement on Jointly Developing Chinese Academy of Science Joint Innovation Industrial Park with CAS Holdings and the People’s Government of Shunyi District, under which agreement the National Geographic Information Technology Industrial Park Phase II will serve as an important technology commercialization base for the Chinese Academy of Sciences. As the first project initiated in implementing the National Technological Innovation Development Action Plan, Chinese Academy of Science Joint Innovation Industrial Park will, upon completion, create more than RMB100 billion in GDP.