CHINA CHENGTONG DEVELOPMENT GROUP LIMITED

The Group has formulated leasing as the direction of its principal business, and has resolved that the Group's wholly-owned subsidiary, Chengtong Financial Leasing Company Limited ("Chengtong Leasing"), is to feature professional development based on strict risk control. Chengtong Leasing will continue to enhance its cooperation with other state-owned enterprises, promote its development in business areas such as energy conservation and environmental protection, transportation and logistics, internet data center, new energy, and highlight its industry characteristics in these market segments. Chengtong Leasing will further expand its financing channels, explore to develop independent rating to strengthen self-financing capability, and seek low-cost funds for business investment. Moreover, it will strengthen risk prevention and control, as well as build and improve the risk management system comprehensively.