Zhejiang Haikong Nankehua secures 900m yuan financing via accounts receivable pledge

Zhejiang Haikong Nankehua Digital Technology Co. (the "Company") has approved a plan to pledge up to 900 million yuan in accounts receivable to secure financing from the Hangzhou branch of Zheshang Bank Co. This initiative, approved by the board on September 15, 2025, aims to facilitate various financial operations including loans, letters of credit, and bank acceptance bills. The pledged amount will be available on a revolving basis for one year from the board's approval date.

The financing is intended to meet the company's operational capital needs, enhance asset utilization, and reduce financing costs. This strategic move is expected to positively impact the company's daily operations, promote business development, and optimize its financial structure.

The company emphasizes that this financing arrangement aligns with its business strategy and is not detrimental to the interests of the company or its shareholders. The specific terms of the agreement will be finalized between the company and Zheshang Bank's Hangzhou branch, with the company's general manager authorized to execute the necessary documents.