(Data pictures are for reference only)

On September 12, the 22nd meeting of the ninth board of directors of Dongbai Group (600693) (securities code: 600693) and the 2018 annual general meeting of shareholders reviewed and approved the Plan on Transferring Part of the Equity of Logistics Subsidiary, and approved Pingtan Xinzhong Property Management Co., Ltd., a wholly-owned subsidiary directly controlled by the company (hereinafter referred to as "Pingtan Xinzhong") The 80% equity of Tianjin Xingxiu Supply Chain Management Co., Ltd. (hereinafter referred to as "Tianjin Xingxiu") held by it was transferred to Tianjin Ninghe Holdings II Limited. The business parties signed a formal Business Agreement and other relevant agreements in May 2019. The business party will pay 90% of the equity transfer fee on the delivery date.

As of February 28, 2019, Tianjin Xingxiu perfunctory unpaid companies and subsidiaries within the scale of merger statements had a total loan balance of 322046200 yuan. Tianjin Xingxiu estimated that it would repay the above-mentioned loans in full through bank financing or other legal financing methods within three months after the delivery date.

As of the date of this announcement, this guarantee agreement has not been formally signed, and the company will sign it after the consideration of this matter at the general meeting of shareholders. The specific content of equity pledge is subject to the agreement in the transaction contract.

As of the date of this announcement, in addition to this guarantee, the balance of guarantee provided by the company and its holding subsidiaries to the company beyond the scale of the merger statement is 297 million yuan; The balance of guarantee provided between the Company and its subsidiaries and between subsidiaries is 2932753400 yuan, during which the balance of guarantee provided by the Company and its subsidiaries to subsidiaries is 1170907600 yuan, accounting for 50.52% of the Company's latest audited net assets.