Zhejiang Haikong Nankexinhua Iron plans to pledge 900 million accounts receivable to Zhejiang Commercial Bank for financing.

Zhejiang Haikong Naoke Hua Iron Smart Technology Co., Ltd. Announcement: In order to promote business development, the company intends to pledge accounts receivable not exceeding 900 million yuan to Zhejiang Commercial Bank Hangzhou Branch for financing purposes, such as obtaining loans. The pledged amount can be used repeatedly, with a validity period of one year from the date of approval by the board of directors. The 18th meeting of the Fifth Board of Directors of the Company on a certain date of the month, has approved the proposal, within the authority of the board of directors. Zhejiang Commercial Bank Hangzhou Branch has a good credit rating and no other relationship with the company. This financing will meet the company's daily fund needs, promote business development, reduce financing costs, optimize the financial structure, and not harm the interests of shareholders.