Announcement on the Progress of Asset Release and New Mortgage and Related Party Transactions
The company and its board of directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and are not aware of any false representations, misleading statements, or material omissions.
I. Overview of Asset Release This Time
On April 27, 2025, Jiao Xin (Zhejiang) Information Development Co., Ltd. (hereinafter referred to as "Information Development" or "the Company") held the fifteenth meeting of the Sixth Board of Directors. The 2024 Annual General Meeting of Shareholders approved the "Proposal on the Company's Application for a Comprehensive Credit Line of Not Exceeding RMB 600 Million from Banks." It was agreed that the Company and its subsidiaries would apply for a comprehensive credit line of not exceeding RMB 600 million from banks in 2025 (the final amount to be subject to the actual credit line approved by each bank). The credit line will be used for daily production and operation needs such as working capital loans, bill discounts, bank acceptance drafts, bank guarantees, and bank factoring. The specific credit line and term will be subject to the final credit agreement signed by the Company with the banks based on the fund utilization plan. For details, please refer to the "Announcement on the Company's Application for a 2025 Comprehensive Credit Line" disclosed by the Company on the Juchao Information Network (www.cninfo.com.cn) on April 28, 2025 (Announcement No.: 2025-018).