Ningxia Zhongke Biotechnology (600165.SH) accepts debt waiver from controlling shareholder, with waived amount of approximately 560 million yuan.

Ningxia Zhongke Biotechnology (600165.SH) announced that on December 28, 2021, Ningke Biotechnology signed a loan agreement with Guangdong Hongjun Investment Co., Ltd. ("Guangdong Hongjun"), borrowing 500 million yuan from Guangdong Hongjun, with a loan term of 3 years and an annual interest rate of 6%. On June 16, 2023, the two parties signed a supplementary agreement to extend the loan term until December 31, 2025. On December 26, 2024, the controlling shareholder of Ningke Biotechnology, Shanghai Zhongneng, signed a debt transfer agreement with Guangdong Hongjun, agreeing to transfer all rights corresponding to the 5 billion yuan loan principal and interest accrued up to the date of the agreement that Guangdong Hongjun had against the debtor Ningke Biotechnology to Shanghai Zhongneng, and informed Ningke Biotechnology. Shanghai Zhongneng decided to waive the aforementioned debt of Ningke Biotechnology and signed a debt waiver agreement with the company on December 26, 2024, with a waiver amount of 560 million yuan, including 5 billion yuan in principal and 59.589 million yuan in interest.