The first shares provide a guarantee period of 58.31 million yuan for Fuzhou subsidiary for 3 years.

On November 15, Beijing Capital Development Co., Ltd. issued an announcement of external guarantee.

It is understood that Fuzhou Rongqiao, the first share holding subsidiary, plans to apply for 171.5 million yuan of real estate development loan from Fuzhou Branch of Industrial Bank Co., Ltd., with a term of 3 years, and the first opening shares will provide 58.31 million yuan of joint and several liability guarantee according to 34% shareholding ratio. The guarantee period shall be three years from the date of expiration of the performance period of the principal debt.

Fuzhou Rongqiao Hezhong wholly-owned subsidiary Fuzhou Shoukai Futai Investment Co., Ltd. is a project company established in cooperation with Rongqiao Group Co., Ltd. And Huicheng Century Group Co., Ltd., with a registered capital of 200 million yuan.

Among them, the first shares contributed 68 million yuan, Rongqiao Group Co., Ltd. contributed 66 million yuan, and Huicheng Century Group Co., Ltd. contributed 66 million yuan. The proportion of shares held by the three parties was 34%, 33%, 33%, and the financial statements were consolidated by Fuzhou Shoukai Futai Investment Co., Ltd. Fuzhou Rongqiao and Zhonghua are mainly developing the "Hua Manting" project in Fuzhou.

As of September 30, 2021, Fuzhou Rongqiao Hezhong has total assets of 625 million yuan and liabilities of 430 million yuan, including current liabilities of 215 million yuan and net assets of 195 million yuan. The operating income from January to September in 2021 is 0 yuan and the net profit is-4.4665 million yuan.

As of the date of disclosure of this announcement, the total amount of external guarantees of the first shares and holding subsidiaries is 42.465 billion yuan (unaudited, excluding this guarantee), accounting for 134.41% of the latest audited net assets of listed companies.