Casin Real Estate Development Group (000838.SZ) announced that, in order to support the development and construction of the Mingyuefu project in Dianjiang Company, the company held its second extraordinary general meeting of shareholders in 2022 on September 15 to review and approve the Proposal Regarding Providing Additional Financial Assistance to Fenghou Industrial. Hongye Company and other shareholders of Dianjiang Company will provide additional financial assistance to Dianjiang Company in proportion to their shareholding on equal terms. After the additional financial assistance from Hongye Company, the loan balance of Dianjiang Company shall not exceed 200 million yuan (including) and the term shall not exceed 24 months, with an annual interest rate not exceeding 13% (please refer to Notice No. 2022-059 of the Company on Providing Additional Financial Assistance from Holding Subsidiaries to Participating Companies). As of now, the balance of financial assistance is 165.0771 million yuan.

The company held the eighth extraordinary meeting of the eleventh board of directors on July 17, 2023 to review and approve the Proposal Regarding the Sale of Equity of a Subsidiary. Hongye Company will sell its 35% equity in Dianjiang Company to ZeHou Company at a transfer price of 83.27 million yuan (please refer to Notice No. 2023-062 of the Company on the Sale of Equity of a Subsidiary). As of now, the aforementioned equity transfer has not been completed, the financial assistance of 165.0771 million yuan has not been recovered, and it is overdue. As of now, the provision for bad debts of this financial assistance has been recorded as 85.7419 million yuan in 2023.