[Caihua News] Maoye International (00848.HK) announced that on September 30, 2021, Chengdu Maoye Real Estate (a non-wholly-owned subsidiary of the company) has entered into a guarantee agreement with the Bank of Shanghai for the provision of guarantees. Accordingly, Chengdu Maoye Real Estate has agreed to provide a guarantee not exceeding RMB 60 million to the Bank of Shanghai for its property sales and the repayment obligations of the Bank of Shanghai mortgage loans of the home buyers.

In the guarantee agreement, the Bank of Shanghai serves as the lender and Chengdu Maoye Real Estate as the guarantor.

Chengdu Maoye Real Estate will sell a number of commercial and residential properties developed by it in the Maoye Times Square sales project in Chengdu, China. The board of directors is convinced that Chengdu Maoye Real Estate's guarantee to the Bank of Shanghai for the repayment obligations of home buyers will be conducive to the promotion of property sales and the return of funds. The provision of guarantee is in line with the relevant laws and regulations of China and the usual business practice of real estate sales business.