Fujian Sanmu Group Co., Ltd. (hereinafter referred to as "the Company") and its wholly-owned subsidiary Fujian Sanmu Construction Development Co., Ltd. (hereinafter referred to as "Sanmu Jianfa"), along with its holding subsidiary Fuzhou Light Industry Import and Export Co., Ltd. (hereinafter referred to as "Fuzhou Light Industry"), have recently encountered overdue debts. According to the relevant provisions of the Shenzhen Stock Exchange Listing Rules, the overdue payments have not yet reached 15 trading days, and the specific situation is announced as follows:
I. Basic Situation of the Overdue Debts
(1) Overdue Debt Situation with Guangfa Bank
On November 20, 2025, the Company disclosed the "Announcement on Providing Guarantees for Subsidiaries" (Announcement No. 2025-104), involving the following guarantee matters: The Company's holding subsidiary Fuzhou Light Industry applied for a credit limit of RMB 20 million from Guangfa Bank Co., Ltd. Fuzhou Branch, with a credit term of 1 year, guaranteed by the Company with joint liability. The Company and Fuzhou Light Industry signed relevant documents such as the "Comprehensive Credit Contract" and "Maximum Guarantee Contract" with Guangfa Bank Co., Ltd. Fuzhou Branch. Recently, Fuzhou Light Industry received a "Credit Business Expiration Reminder" from Guangfa Bank Co., Ltd. Fuzhou Branch. On November 18, 2025, Fuzhou Light Industry signed a "Credit Limit Contract" numbered (2025) Rong Yin Comprehensive Credit No. 000122 with Guangfa Bank Co., Ltd. Fuzhou Branch, applying for a credit business of RMB 5 million, which will expire on May 18, 2026. Fuzhou Light Industry is required to promptly arrange repayment of a total of RMB 5 million principal and RMB 2,900 interest, and deposit these funds with the bank no later than the expiration date.