Xiaosong Group: The loans of affiliated joint-stock companies are overdue, with a total overdue guarantee of 1.55 billion yuan.

Xiao Song Group announced that, as of the disclosure date of the announcement, the cumulative amount of overdue guarantees of the company and its holding subsidiaries was 155 million yuan, accounting for 20.39% of the latest audited net assets. These are all due to the fact that the factoring business loans of affiliated companies Guohai Construction and Jiangxi Guokong Factoring were overdue. The company has urged Guohai Construction to communicate with creditors to confirm a refinancing plan. Guohai Construction is currently negotiating with creditors, and its assets, including accounts receivable, are sufficient to cover its liabilities. The company will closely monitor the progress and disclose information in a timely manner.