Shengxun Co., Ltd. announced that the company recently signed an “M&A Loan Contract” and other agreements with CCB's Hunan Branch Sales Department, and has completed procedures related to rights pledges and real estate mortgages. The amount of the merger and acquisition loan amount is 175 million yuan, and the loan period is 120 months. The purpose is to pay the transaction price and expenses for the acquisition of 51% of Cree's shares and to replace part of the M&A price already paid in advance. Guarantee measures include: the company pledged 51% of the shares held by China Cree, mortgages real estate under its name, actual controllers Tan Zheng and Nie Rong provided joint liability guarantees, and the controlling shareholder Guangxi Tianfu Investment Co., Ltd. pledged 5 million shares of the company.

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