Gelonghui, March 12, 丨 Kexuan Power Holdings (00476.HK) announced that on March 12, 2024, the Company entered into a loan agreement with S.C.ISATOEV (the “Lender”) to provide a loan of 594,339 euros for a period of 3 months from the date of the loan.

Due to the recent poor investment climate, the company faced difficulties in seeking financing opportunities to supplement working capital. Therefore, the company believes that loans can provide the Group with short-term working capital to maintain operations while continuing to negotiate and finalize any fund-raising opportunities. The total amount of loan proceeds is intended to be used as the general working capital of the Company.