Zhefu Holdings: Subsidiary provides 250 million guarantee for Shenlian Environmental Protection Group.

Zhefu Holdings Announcement: Its wholly-owned subsidiary, Sinoenergy Environmental Protection, has signed a "Maximum Amount Guarantee Contract" with Zhejiang Fuyang Rural Commercial Bank to provide joint guarantee for the maximum 250 million yuan debt rights applied by another wholly-owned subsidiary, Shenlian Environmental Protection Group, to the bank, with a guarantee period of three years. This guarantee matter has been approved by the shareholders of Sinoenergy Environmental Protection and does not require review by the company's board of directors or shareholders' meeting, and is not considered related-party transaction or counter-guarantee.