board of directors of Cinda International Holdings Limited in compliance with the requirements under Rule 13.18 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Reference is made to the announcement of the Company dated 24 September 2020 in relation to the facility letter (the "Existing Facility Letter") entered into by the Company with a licensed bank in Hong Kong (the "Bank") regarding a HKD 120,000,000 (or USD equivalent) revolving loan facility (the "Existing Loan Facility"). On 19 September 2023, the Cinda International Holdings Limited as borrower entered into a revised facility letter ("Revised Facility Letter") with the Bank, pursuant to which a revolving loan facility of an amount up to HKD 120,000,000 (or USD equivalent) (the "Revised Loan Facility") would be made available by the Bank to the Company subject to the terms and conditions of the Revised Facility Letter.

The Revised Facility Letter would supersede the Existing Facility Letter and the outstanding advances under the Existing Facility Letter will be transferred as the outstanding advances under the Revised Facility Letter. The Revised Facility Letter imposes, among other things, specific performance obligations on the controlling shareholder of the Company. Pursuant to the Revised Facility Letter, defaults (the "Default") will be triggered if any default events occurred, including breach of any one of the following loan undertakings, among others: China Cinda Asset Management Co.

Ltd. ("China Cinda") shall directly or indirectly hold or control not less than 50% shareholding of the Company; and the Ministry of Finance of the People's Republic of China shall directly or indirectly hold or control not less than 50% shareholding of China Cinda.