"Development of Quzhou: Obtaining special loan financing support for repurchasing shares not exceeding 180 million yuan."

On March 12, Quzhou Development announced that it has recently obtained a commitment letter issued by Industrial and Commercial Bank of China Zhejiang Branch for a special loan project for repurchasing stocks of Quzhou Xinan Development Co., Ltd. The bank agrees to provide special loan support for the company's stock repurchase, with a loan amount not exceeding 180 million RMB and a term of 3 years. The "Loan Commitment Letter" shall come into effect from the date of issuance and be valid for 12 months.