Roan Holdings Group Co., Announces Signing Strategic Letter of Intent for A New Energy Storage Industrial Park

BEIJING and HANGZHOU, China, June 29, 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 it has entered into a Letter of Intent (the "LOI") with Zhejiang Shangyu Cao'e River Economic Development Zone (the "Shangyu") as the Company executes on its strategic plan to provide planning, support, and operations for new energy storage, new materials and semiconductor related projects.

Pursuant to the LOI, the Company will be responsible for the initial planning, regulatory  approvals such as environmental and safety assessments, and industrial operations for a new industrial park whose target tenants would engage in new energy storage production, system equipment manufacturing, new materials and semiconductor, with supporting upstream and downstream projects (collectively, the "Project").  Pursuant to the LOI, Zhejiang Shangyu Cao'e River Economic Development Zone will provide support and assistance to the Project, including but not limited to favorable government policy, funding, and other resources. The Project is strategically located less than one hour drive from Hangzhou City, and it is positioned as a high-end technology manufacturing industrial park with 66 Acres of land available for development. The Company will assist its project partners to set up an entire industrial chain in the industrial park and to build a sustainable industrial ecosystem by providing comprehensive industrial operations and capital solutions services for the following projects: energy core storage production, energy storage power plant system equipment manufacturing, new alloy material research and development production, micro display chip module and terminal equipment production and other related upstream and downstream projects.

"We are truly excited about this cooperation as the Project at Shangyu is a significant second step for our strategic expansion in the new energy, new materials and semiconductor industrial parks operations and development, following on the heels of our ongoing work in support of the establishment of a first new energy storage industrial park in Jiaxing. We believe that the new energy equipment manufacturing involved in this Project will supplement the new energy storage and battery projects in Jiaxing. We will adhere to our strategy of providing 'whole process and life cycle' comprehensive industrial operation solutions and services by connecting tenants in the Project upstream and downstream in the industrial chain. Rooted in Zhejiang Province, we will continue our expansion in the Yangtse River Delta Region   and eventually grow nationwide. We further believe that our tailored industrial operation solutions for the industrial parks will help the industrial development of Hangzhou city and its nearby regions. In addition, our experience in the cooperating with multiple government agencies on major projects lay a solid foundation for further cooperation opportunities. With the implementation of the projects, our industrial operation services segment will create further value for our investors and shareholders in the future," commented Mr. Junfeng Wang, Chairman of the Company.

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 our belief that the new energy equipment manufacturing involved in this Project will supplement the new energy storage and battery projects in Jiaxing, that we will adhere to our strategy of providing "whole process and life cycle" comprehensive industrial operation solutions and services, our further belief that our tailored industrial operation solutions for the industrial parks will help the industrial development of Hangzhou city and its nearby regions, that our experience in the cooperating with multiple government agencies on major projects lay a solid foundation for further cooperation opportunities, and our view that our industrial operation services segment will create further value for our investors and shareholders in the future, 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 or the Jiaxing project will come to fruition, whether Shangyu will fund the project, whether there is demand for tenants in the project, and whether we can connect the tenants both upstream and downstream in the industrial chain.  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:
Sherry Zheng
Weitian Group LLC

Email: shunyu.zheng@weitian-ir.com
Phone: +1 (718)213-7386

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