China Gem Holdings Limited (as the borrower) and an independent third party (as the lender) signed a 10-year loan financing agreement with a maximum principal amount of several hundred million euros (EUR 100 million in the first installment) and the annual interest rate is 3.5%. Conditions and amounts are subject to the final agreement and performance. The purpose of the funds is to finance the general working capital of the Company and its subsidiaries and will to be used for the intended projects of the Company and its domestic subsidiaries in mainland China.