Announcement on Progress of Company Guarantee Matters and Related Litigation
The company and all members of its board of directors guarantee the content of this information disclosure is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions.
I. Basic Guarantee Information
Beijing Sanfo Outdoor Products Co., Ltd. (hereinafter referred to as the "Company") held its third meeting of the fifth board of directors on April 28, 2024, and its 2023 annual general meeting on May 24, 2024, respectively, and reviewed and approved the "Proposal on Providing Guarantees for Xianning Xile Cultural Tourism Co., Ltd. by the Company and its Holding Subsidiaries." Due to the daily operating needs of its wholly-owned subsidiary Xianning Xile Cultural Tourism Co., Ltd. (hereinafter referred to as "Xianning Xile," a wholly-owned subsidiary of Shanghai Xile), Shanghai Xile Cultural Development Co., Ltd. (hereinafter referred to as "Shanghai Xile"), a holding subsidiary of the Company, signed a project operation cooperation agreement with Hubei Zeshan Health Industry Co., Ltd. (hereinafter referred to as "Zeshan Industry"). Zeshan Industry is the investor for the second phase of the "Squirrel Tribe" Forest Holiday Park in Xianning. The three parties agreed that starting from 2024, Xianning Xile would pay Zeshan Industry a fixed investment return of RMB 146.36 million annually by December 31st for five years, totaling RMB 731.80 million. For details, please refer to the "Announcement on Providing Guarantees for Xianning Xile Cultural Tourism Co., Ltd. by the Company and its Holding Subsidiaries" disclosed by the Company on the Juchao Information Network (www.cninfo.com) on April 30, 2024 (Announcement No.: 2024-037).