Zhejiang Jingxing Paper guarantees affiliate's RMB 21m loan

Zhejiang Jingxing Paper Joint Stock (the Company) has provided a joint and several liability guarantee for a RMB 21 million loan taken by Pinghu Hongxin Thermal Power Co., Ltd. from Zheshang Bank Co., Ltd. Jiaxing Pinghu Branch. The loan, secured on December 9, 2025, matures on December 8, 2026, and the guarantee covers the principal, interest, compound interest, penalties, liquidated damages, and all related fees.

This guarantee is part of a larger mutual guarantee agreement approved at the Company's 2024 annual general meeting on May 27, 2025, allowing for mutual guarantees up to RMB 300 million between Zhejiang Jingxing Paper and Hongxin Thermal Power Company. The terms for this specific loan were formalized with Zheshang Bank Co., Ltd. Jiaxing Pinghu Branch.

Following this transaction, the Company's total external guarantee balance, including that of its controlling subsidiaries, stands at RMB 1,395,696,200.00. Guarantees provided to entities outside the consolidated financial statements amount to RMB 269,000,000.00, representing 4.60% of the Company's net assets as of December 31, 2024. The Company and its controlling subsidiaries confirm no overdue guarantees, guarantees involved in litigation, or guarantees arising from adverse judgments.