Zhongtong Finance App learned that Shenzhen Expressway Co., Ltd. (00548) announced that on June 12, 2024, Guangxi Lande (a wholly-owned subsidiary of Lande Company) and CM Bank Nanning Branch signed a Credit Agreement. CM Bank agrees to provide a credit limit of RMB 40 million yuan to Guangxi Lande with a loan term of 12 months. On June 12, 2024, Lande Company issued an 'Irrevocable Guarantee' (the 'Guarantee Agreement') to CM Bank. Lande Company, the controlling subsidiary holding 92.29% indirect equity shares, provides joint liability guarantee for the principal debt and related expenses under the above-mentioned credit limit of Guangxi Lande. The guarantee period is from the effective date of the Guarantee Agreement to the due date of each loan or other financing under the Credit Agreement or the receivables transferred to CM Bank or the advance payment for each installment payment plus three years. If any specific credit is extended, the guarantee period shall be extended to three years after the expiration of the extended period. This guarantee has no counter-guarantee.

On June 12, 2024, Guangxi Lande and China Everbright Bank Shenzhen Branch signed a fixed asset and project financing loan contract. China Everbright Bank agreed to provide RMB 380 million yuan in fixed asset loans to Guangxi Lande for the Nanning Kitchen Waste Resource Utilization and Harmless Treatment Plant project (‘Nanning Kitchen Project’), with a borrowing term of 120 months. On June 12, 2024, Lande Corporation signed a Guarantee Contract with China Everbright Bank for joint liability guarantee of the principal, interest, and related expenses under the loan contract. The guarantee period is three years from the expiration date of the last installment payment. This guarantee has no counter-guarantee.

Apart from this guarantee, as of the date of this announcement, the actual balance of guarantees provided by the Company and its subsidiaries to Guangxi Lande is RMB 163 million yuan. According to Guangxi Lande's plan, Guangxi Lande will return RMB 133 million yuan of financing in the near future, and at that time, the guarantees provided by the Company and its subsidiaries for the aforementioned RMB 133 million yuan financing of Guangxi Lande will be correspondingly released.