Shangzhi group (01207): Shanghai Xiangyuan provides a loan of up to RMB 185 million to Shanghai Jinxin in the form of entrusted loan

Shangzhi group (01207) announced that Shanghai Jinxin entered into an entrusted loan contract with Shanghai Xiangyuan (as the loan principal) and the trustee (as the loan agent) Industrial And Commercial Bank Of China Limited(601398) Shanghai Bund sub branch on May 20, 2022. According to this, Shanghai Xiangyuan agreed to provide a maximum loan of RMB 185 million to Shanghai Jinxin (as the borrower) in the form of entrusted loan from May 20, 2022 to August 30, 2022. Some subsidiaries of the company have also entered into guarantee contracts and entrusted loan mortgage contracts on May 20, 2022. As part of the entrusted loan arrangement, they provide guarantee for at least 50% of the maximum principal of the entrusted loan and the corresponding interest, that is, RMB 92.5 million and RMB 2.7133 million respectively.