Singapore Exchange Mainboard-listed Sarine Technologies Ltd (“Sarine” or "the Company" and together with its subsidiaries "the Group") (U77:SI), a worldwide leader in the development, manufacture and sale of precision technology products for the evaluation, planning, processing, finishing, grading and trading of diamonds and gems, is pleased to announce that it has launched a co-branded light performance report with the National Gemstone Testing Center (NGTC) of China for Yuanyumei (Y & M) Jewelry a leading high-end Chinese jewelry designer, manufacturer and wholesaler.

As announced on 17 September 2019, on 16 September 2019, at NGTC’s headquarters in Beijing, the Group entered into a strategic agreement with NGTC, the leading gemological laboratory in China. The agreement stipulated cooperation on diamond grading standards aimed at implementing the highest level and most consistent grading, by utilising NGTC’s extensive gemological research and diamond testing expertise and Sarine's developments in the areas of Artificial Intelligence (AI) for the grading of a polished diamond's 4Cs and light performance grading, as well as a joint effort to advance diamond traceability and fingerprinting as well as other digital solutions suitable for the retail diamond trade in China.

We are now pleased to announce that, delayed somewhat by the advent of the Covid-19 pandemic, the cooperation between the two parties has led to its first tangible result with the official launch of an NGTC and Sarine co-branded diamond light performance report, initially adopted by jewelry designer, manufacturer and wholesaler Y & M Jewelry for Y & M's Rose D'Amour line. A launching ceremony "Beloved Roses Heading to the Light" was held at the Shenzhen IBC Mall on 9 September 2020 attended by many dignitaries including former Deputy Minister of Geology and Mineral Resources and Chairman of the Gems & Jewelry Trade Association of China (GAC) Zhouqi CHEN, leading GAC's delegation, Secretary of the Party Committee and President of NGTC Zhibin YE, leading NGTC's delegation, President of Shenzhen Gold & Jewelry Association (SZGJA) Zhiyong Huang, Chairman of Y & M Tianwei LIN, leading Y & M's delegation, and others, including Sarine's local representatives (visit http://yymjewelry.com/news-688.html).

Mr. ZhiBin Ye, NGTC's President, commented, "NGTC and Sarine have a solid foundation for cooperation, the technology and solutions, and both parties, having common interest, are determined to empower development of the diamond market and protect consumer confidence while providing high-quality support for diamond brands . Y & M has over 20 years of professional diamond industry experience and has extremely high standards for product quality. It is an excellent brand in the industry that takes the lead in actively applying diamond technology to drive corporate transformation and upgrading. NGTC and Sarine testing laboratories will actively support diamond enterprises striving to apply high testing standards and quality management and control. Through our cooperation with Sarine and applying its technology, important progress can be made in the diamond consumer market. This launch is an example, and both Y & M's Rose D′Amour brand and their consumers will experience the benefits of diamond light performance testing technology for more confident and safer buying."

Lin Tianwei, Chairman of Y & M, said, "We are honored to be the first jewelry company in the country to apply the NGTC and Sarine co-branded diamond light performance report. We attach great importance to the quality of our diamonds and have been actively applying Chinese and international diamond testing standards for years. Fully relying on the role of third-party institutions and organizations, we are committed to setting a benchmark in the industry. With the joint technical support of NGTC and Sarine, we will provide professional authentication and testing for our Rose D′Amour diamonds. I believe that we can work together to provide retailers and consumers not only with better quality diamonds, but also with more detailed and professional diamond quality information, and jointly establish a channel of interconnection, mutual communication and mutual trust. "

David Block, Sarine Group CEO, remarked, "Together with NGTC, China's leading authority on gem research and grading and our exclusive partner in China, we will be providing Y & M’s Rose D′Amour a unique co-branded light performance diamond grading report. The introduction of this new technology-based grading standard is part of Sarine’s and NGTC’s commitment to bring innovation and a new level of confidence and transparency to consumers. We believe this is just the start of a rich and deep collaboration with Y&M Jewelry, a visionary jewelry company that understands today’s consumer trends, needs and interests. I am sorry to have been prevented from attending the launch in person, but from here in Israel, I would like to wish Y & M a successful event and am hoping to meet you all in person and celebrate this important milestone together when conditions permit."