Zhejiang Jingxing Paper updates on external guarantees for subsidiaries

Zhejiang Jingxing Paper Joint Stock Co. (the "Company") has announced the latest developments in its external guarantee arrangements for 2025. On September 11, 2025, the Company entered into a "Guarantee Contract" with Bank of Communications Co. Jiaxing Branch, providing a maximum guarantee of RMB 11 million for its wholly-owned subsidiary, Pinghu Jingxing Packaging Materials Co.'s credit facilities until September 11, 2026. On the same day, the Company also provided a joint and several liability guarantee for Pinghu Hongxin Thermal Power Co.'s RMB 17 million working capital loan from Huaxia Bank Co. Jiaxing Pinghu Sub-branch, valid until September 11, 2026.

Further, on September 12, 2025, the Company provided a joint and several liability guarantee for Pinghu Hongxin Thermal Power Co.'s RMB 10 million loan from Bank of Beijing Co. Jiaxing Branch, with the loan term extending to September 11, 2026. These guarantees fall under previously approved maximum guarantee agreements.

Following these latest guarantees, the Company and its controlling subsidiaries' total outstanding external guarantee balance stands at RMB 1,214,641,700. The total guarantee amount for entities outside the consolidated financial statements is RMB 269,000,000, representing 20.79% and 4.60% of the Company's net assets as of December 31, 2024, respectively. The Company and its controlling subsidiaries currently have no overdue guarantees or guarantees involved in litigation or unfavorable judgments.