Zhejiang Longsheng (600352): Progress Of External Guarantee

Zhejiang Longsheng (600352) announced on the evening of March 2 that on March 1, 2022, the company and Shangyu sub branch of Bank of China Limited (hereinafter referred to as "Bank of China") signed two "maximum guarantee contracts" to provide guarantee for the financing and credit matters of the wholly-owned subsidiary Zhejiang dyeing and Chemical Co., Ltd., with the maximum amount of creditor's rights as the main principal balance of RMB 440 million and its interest and expenses; To provide guarantee for the financing and credit extension of Zhejiang Hongsheng, a wholly-owned subsidiary. The maximum amount of the guarantee is the principal balance of the creditor's rights of RMB 400 million and its interest and expenses.

On the same day, the company signed the "maximum guarantee contract" with Hangzhou branch of industrial and Commercial Bank of China Limited (hereinafter referred to as "ICBC") to provide guarantee for the financing and credit matters of Hangzhou Longshan, a wholly-owned subsidiary. The maximum amount of creditor's rights guaranteed is the principal balance of creditor's rights of RMB 100 million and its interest and expenses.

As of February 25, 2022, the company has actually provided a total of RMB 2292.1462 million to Zhejiang dyeing and Chemical Co., Ltd., RMB 1158.6865 million to Zhejiang Hongsheng, and RMB 100.336 million to Hangzhou Longshan, all within the scope of guarantee approved by the 2020 annual general meeting of shareholders.