Roan Holdings Group Co., Enters into Investment Cooperation Agreement for Development and Manufacturing of LCOS Micro-Display Panels

HANGZHOU, China, April 26, 2023

Pursuant to the Agreement, Roan and its partners will negotiate investment agreements for Roan to expend approximately $12,000,000 to acquire an equity interest in MAY by acquiring a portion of Mr. Paik's outstanding equity in MAY and by making a voluntary capital contribution to MAY. The actual terms of Roan's investment will be outlined in a subsequent share transfer agreement to be negotiated, agreed, and executed by Roan, MAY and Mr. Paik. In addition, Roan and MAY have agreed to form the Project Company in China to engage in the research, development, manufacturing, marketing and sales of LCOS micro-display projects modules and terminal devices. As a provider of industrial capital and operations services, Roan and its partners will invest approximately $6,000,000 into the Project Company in addition to being responsible to provide the Project Company with certain services, including solutions for production resources, implementation of applicable policies, investment and capital introduction, strategic structure design, capital planning, management implementation, marketing development and other additional industrial operation supports as required by the Project Company. MAY will invest approximately $3,000,000 into the Project Company in addition to being responsible for the core technology, product research and development, and production management of LCOS products. The Project Company would purchase production line equipment and implementation consulting services from MAY for $35,000,000 and would have the exclusive right to make and sell micro-display project modules and terminal devices using MAY's technology. Roan and MAY intend to leverage their respective resources and capabilities to jointly promote the development of LCOS micro-display product technology globally. 

Mr. Junfeng Wang, Roan Chairman of the Board commented, "Following our investment cooperation agreement with the Jiaxing Economic and Technological Development Zone for the new energy storage project on June 8, 2022, and the initiation of the new energy research and development manufacturing base on March 18, 2023, we are thrilled to announce our close partnership with MAY to further advance the development and implementation of micro-display related industry projects. This collaboration signifies a significant achievement for Roan in the realm of industrial investment and industrial operation services in semiconductors. By broadening our focus from the new energy sector to encompass the semiconductor domain, we can more effectively diversify our revenue streams, facilitating a dual-engine strategy to drive the company's growth. We believe this diversification approach will enables us to broaden our business development horizons and further ensure the sustainability of our company performance and growth in the future. Roan's ability to make substantial progress in both new energy and semiconductor industries showcases the exceptional expertise of our management team and advantageous resources in industrial investment and operations. In the future, we will continue to deepen and expand our industrial investment and industrial operation services in the semiconductor field by joining hands with our partners and customers. We are confident in our capacity to achieve even greater accomplishments in the future. Moreover, our collaboration with the MAY marks a pivotal step in Roan's ongoing internationalization strategy. We remain committed to cultivating a global perspective, actively pursuing potential projects with cutting edge technology and quality partners both domestically and internationally."

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 industrial operation 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 the greater 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 operation headquarters in Hangzhou and subsidiaries in Hangzhou, Ningbo, Shaoxing and Tianjin. For more information, please visit: www.roanholdingsgroup.com.

About MAY Co., Ltd.

MAY Co., Ltd. is the only 4K and 8K Liquid Crystal On Silicon ("LCOS") panel manufacturer and producer in Korea. MAY is dedicated to advancing the industrialization of micro-display technology. With numerous patented technologies, including "silicon-based liquid crystal display devices" and "reflective screens," MAY offers a diverse range of services and products, such as silicon-based liquid crystal panel HMDs, IRIS-U62 projectors, and hologram development kits, all designed to enhance various virtual reality experiences.