The Board of China Development Bank Financial Leasing Co., Ltd. announced that on 29 January 2021 (after trading hours), the Company (as the Lessor) entered into a series of Finance Lease Agreements with the Lessee I, pursuant to which (i) the Lessor purchased the Leased Assets from the Lessee I at a consideration of RMB1,000,000,000, and (ii) the Lessor agreed to lease back the Leased Assets to the Lessee I in batches with a lease period of no more than 60 months (the "Current Transaction"). Lease Period is not more than 60 months. Pursuant to the Finance Lease Agreement, the Lessor agreed to lease back the Leased Assets to the Lessee I. The rent, including value-added taxes, is comprised of lease principal and lease interest. The lease principal is of the same amount as the transfer consideration, totaling RMB1,000,000,000. The lease interest is calculated based on actual days, and the calculation method is: lease interest = outstanding lease principal balance × actual days of the lease period × annual lease interest rate ÷ 360. The total amount of lease interest for the lease period is approximately RMB131,957,779. The rent is calculated and paid in RMB on a monthly basis. The payment date of the first installment of rent is 20 February 2021, and the 20th of each month in every subsequent year will be the respective rent payment date. The payment of the last installment of rent shall be settled at the end of lease period. The terms of the Finance Lease Agreements, including the transfer consideration for the Leased Assets, lease principal, lease interest and other expenses under the Finance Lease Agreements were determined upon arm's length negotiation between the Lessee I and the Lessor with reference to the net book value of the Leased Assets and the prevailing market prices of the same category of finance lease products in the PRC. Pursuant to the Finance Lease Agreements, the Lessee I has agreed to transfer and/or change the registration of the Leased Assets in batches to the Lessor during the lease period at a total transfer consideration of RMB 1,000,000,000. The consideration will be paid by the Lessor's self-owned funds and/or commercial loans. At the same time, the Lessor has agreed to lease back the Leased Assets in batches to the Lessee I. The Lessee I is entitled to the possession, usage and benefits of such assets. Upon expiration of the lease period, the Lessee I may purchase back all batches of the Leased Assets from the Lessor at a consideration of RMB100 in nominal value.