SEG subsidiary repays guaranteed loan, pursues recovery from unit

Shenzhen SEG's controlling subsidiary, Shenzhen SEG Property Investment Co., Ltd. (SEG Property), has fulfilled a guarantee obligation for its own subsidiary, Huizhou Qunxing Real Estate Development Co., Ltd. (Huizhou Qunxing). Huizhou Qunxing failed to make a scheduled interest payment of RMB817,358.42 to Beijing Bank. On December 22, 2025, Beijing Bank debited the amount from SEG Property’s account.

As of the announcement date, SEG Property has paid a total of RMB11,368,803.43 in guarantee funds, comprising RMB7,499,951.66 in principal and RMB3,868,851.77 in interest. This action results in an accounts receivable for SEG Property from Huizhou Qunxing.

SEG Property will urge Huizhou Qunxing to expedite asset sales, rental operations, and fundraising to repay the outstanding amounts. The company also reserves the right to take legal action to protect its and its shareholders' interests. Investors are advised to exercise caution due to the ongoing financial risks associated with this matter.