Announcement on the Progress of Providing Guarantees for Subsidiary Zhenyuan Biotech
The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or material omissions.
Special Reminder:
The guaranteed party, Zhejiang Zhenyuan Biotech Co., Ltd. (hereinafter "Zhenyuan Biotech"), has a debt-to-asset ratio exceeding 70% in its most recent financial statements. However, as a wholly-owned subsidiary of Zhejiang Zhenyuan Co., Ltd. (hereinafter "the Company"), the Company maintains control and is fully aware of its operational status, rendering the guarantee risk controllable. Investors are advised to pay attention to the risks associated with this guarantee.
I. Overview of the Guarantee
(一) Basic Information of the Guarantee
On August 6, 2026, the Company signed a "Maximum Guarantee Contract" (Contract No.: 0121100305-2026 (Guarantee) No. 0046) with the Shaoxing Branch of Industrial and Commercial Bank of China (hereinafter "ICBC"). The Company provides a joint liability guarantee for a loan of RMB 20,000,000 (in words: Twenty Million Yuan only) obtained by its subsidiary, Zhenyuan Biotech, from ICBC during the period from August 6, 2026, to August 6, 2027 (inclusive of the start and end dates).
(二) Review Procedures for the Guarantee
On June 18, 2026, the Company held the 2026 First Extraordinary General Meeting of Shareholders, where the "Proposal on Providing Guarantees for Subsidiary Zhenyuan Biotech" was approved. The Company was authorized to provide credit guarantees for Zhenyuan Biotech, with a cumulative amount not exceeding RMB 500 million within 60 months. The guarantee quota is revolving within the authorized period, and the validity of the quota is five years from the date of approval by the shareholders' meeting.