On January 29, 2022, Yueyang Agricultural and Rural Development Group Co., Ltd. (hereinafter "YARD") and Shanghai Profit Carbon Environment and Energy Technology Co., Ltd. (hereinafter "Profit Carbon") entered into a Joint Development Agreement with respect to the Yueyang Rice Carbon Sink Resources Development Project, whereby the two parties will cooperate for the realization, management, trading and value addition of assets of greenhouse gas emission reduction under the mechanisms of China Certified Emission Reduction (CCER) and Verified Carbon Standard (VCS) and Gold Standard (GS). The above agreement is a result of the introduction, facilitation and provision of full-process legal services by Chen Zhi and his team to Profit Carbon in accordance with the previously reached agreement on Legal Services for "Carbon Peak and Carbon Neutrality".

Profit Carbon, as a leading enterprise in the industry of "carbon peak and carbon neutrality", is committed to the development of carbon emission reduction, carbon neutrality, carbon asset management, carbon finance and technology support and services for sustainable development, and has abundant experience and market support in the development and allocation of carbon assets at home and abroad. YARD is a state-owned company mainly engaged in agricultural and rural construction. The signing of the above Agreement marks the successful landing of the first agricultural carbon sink project in Hunan, and is a specific measure for Tiandiren to implement the national decisions to comprehensively promote rural-revitalization and set up a green development demonstration zone in the Yangtze River Delta, and to comply with the global trend of green and low-carbon development.

Chen Zhi's legal team has laid out the legal services in the field of carbon neutrality in advance, actively recommended and facilitated the landing of carbon sink projects and provided special legal services, including drafting and reviewing terms of agreement, assisting in handling prior administrative permits and authorization of projects, providing legal feasibility study and compliance review, witnessing contract signing, and providing professional, comprehensive and high-quality legal services to facilitate the contract signing of the Rice Carbon Sink Resources Development Project through consultations and negotiations.