Farnova Group

Farnova Group is working with local media production companies to stage performances at major shopping malls in Hong Kong and expand its media resources. The expansion of the media resources will enable the Group to offer advertisers a wider range of advertising solutions, including various advertising media, models and formats that cater to different target audiences.

Electric vehicle business

The Board of Directors of FARNOVA GROUP HOLDINGS LIMITED is pleased to announce that on 28 July 2020, the Company and the Management Committee of Changde Economic and Technological Development Zone ("Development Zone") entered into an Entry Agreement for the Project of New Energy Vehicle Heavy Truck and Its Industrial Chain Base (the "Entry Agreement"). In accordance with the Entry Agreement, the Company will set up a Project Company in the Development Zone to carry out a project of new energy vehicles and heavy trucks related industrial chain base (the "Project"). In addition, we will collaborate with ESLSTE, an Italian design company, to design new energy vehicles. The total area of the project site is 1,000 mu (approximately 666,667 square meters).

 Phase 1 of the project covers a total site area of about 160,000 square meters, including a factory and offices. The annual output value is expected to exceed HK$30 billion.