As of 27 May 2022, Greenland Hong Kong Holdings Limited repurchased the Bonds in an aggregate principal amount of $18.50 million (the "Repurchased Bonds"), representing approximately 12% of the initial principal amount of the Bonds. The Company will cancel the Repurchased Bonds in accordance with the terms of the Bonds, the trust deed and the agency agreement. After cancellation of the Repurchased Bonds, the outstanding principal amount of the Bonds will be US$131.50 million, representing approximately 88% of the initial principal amount of the Bonds.

Pursuant to Rule 37.48(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the Company will make a further announcement for every subsequent 5% interval of the initial aggregate principal amount of the Bonds that have been redeemed or cancelled in accordance with the terms and conditions of the Bonds.