The Board of Zhuhai Holdings Investment Group Limited announced that, on 23 July 2020, the Company, as borrower, entered into a term loan facility letter ("Facility Letter") with a bank ("Bank"), pursuant to which the Bank has agreed to grant to the Company a term loan facility of up to HKD 300 million having the maturity date falling 3 years from the date of the Company's acceptance of the Facility Letter ("Facility"). Under the Facility Letter, the Company has covenanted and undertaken to the Bank, among others, that throughout the term of the Facility, the Company shall procure that: (i) The Zhuhai Municipal People's Government State-owned Assets Supervision and Administration Commission beneficially owns the entire ownership interest of Zhuhai Jiuzhou Holdings Group Co. Ltd. ("ZJ Holdings"); and (ii) ZJ Holdings beneficially owns, directly or indirectly, at least 30% of the entire issued share capital of the Company and to be the single largest beneficial shareholder of, or to have management control over the Company.