The controlling shareholder of Guangzhou Development Group Incorporated (600098.SH) received stock acquisition loans of up to 135 million yuan.

Guangzhou Development Group Incorporated (600098.SH) issued an announcement stating that the company has received a notification letter from Guangzhou Industrial Investment Holding Group Limited regarding the acquisition of a stock increase loan commitment letter. In order to actively respond to and fully utilize the policy tools of government departments that support stock increases, the controlling shareholder Guangzhou Industrial Investment has obtained a loan commitment letter from Industrial and Commercial Bank of China. Industrial and Commercial Bank of China has committed to provide Guangzhou Industrial Investment with a stock increase loan of up to RMB 135 million, not exceeding 90% of the actual announced disclosure increase amount, for the purpose of increasing the company's stock. The loan has a term of not more than 3 years, and the specific terms are subject to the formal loan contract signed between Guangzhou Industrial Investment and Industrial and Commercial Bank of China.