Announcement of Inability to Repay Due Debts
Zhonghong Holdings Co., Ltd. and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
1. Basic Situation of Unpaid Due Debts
(1) Previously Announced Debt Overdue Situation
As of November 12, 2018, Zhonghong Holdings Co., Ltd. (hereinafter referred to as "the Company" or "Zhonghong") has overdue debts totaling 805,236.76 thousand yuan. For specific details, please refer to the Company's announcement No. 2018-202 published on November 13, 2018, in "China Securities Journal," "Securities Times," "Shanghai Securities Journal," "Securities Daily," and on the website of Giant Tide Information (www.cninfo.com.cn).
(2) Recently Added Due Debt Situation
On November 21, 2018, the Company and its subsidiaries incurred additional overdue debts totaling 53,815.85 thousand yuan, all of which are various loans. The details of the newly overdue debts are as follows:
| No. | Creditor | Debtor | Debt Balance | Interest Rate | Overdue Date | Overdue Reason | Overdue Amount | Debt Term |
|---|---|---|---|---|---|---|---|---|
| 1 | Guocheng Asset Kuns 6 Private Investment Fund | Zhonghong Hongyi Investment Co., Ltd. | 50,000 | 10.30% | November 21, 2018 | Principal overdue | 50,000.00 | 2 years |
| 2 | Fuliti Tianrui Huashang Investment Management Co., Ltd. | Zhonghong Holdings Co., Ltd. | 40,000 | 6.70% | November 21, 2018 | Interest overdue | 1,640.00 | 2 months |
| 3 | Ju Yi (Shanghai) Equity Investment Fund Management Co., Ltd. | Zhonghong Holdings Co., Ltd. | 4,445 | 13.00% | November 21, 2018 | Principal overdue | 70.00 | 1.5 years |
| Total | 53,815.85 |