Zhejiang Resources (600070): Guarantee For Wholly Owned Subsidiaries

Zhejiang's Limited by Share Ltd announcement on progress in providing guarantees for wholly-owned subsidiaries

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

In January 3, 2019, the seventeenth meeting of the eighth board of directors of the Zhejiang Limited by Share Ltd (hereinafter referred to as the "company") adopted the motion on providing guarantees for wholly-owned subsidiary companies. The company is a wholly owned subsidiary, Hangzhou Tai Yi Zhi Shang Technology Co., Ltd. (hereinafter referred to as "Tai Yi Zhi Shang"), providing joint and several liability guarantee for financial institutions to apply for comprehensive credit. The total amount of guarantee is not more than 200 million yuan, and the guarantee period is 1 years or 3 years. For details, see company Announcement No. 2019-002. According to the docking with financial institutions, tayi also adjusted the remaining 20 million yuan in the 50 million yuan of the comprehensive credit of the Binjiang branch of the CITIC Bank (the announcement of the previous progress is detailed in the company's Announcement No. 2019-030) to be adjusted to 10 million yuan of the comprehensive credit of the bank of the people's livelihood of Zhaohui branch, and the guarantee method of the company is still guaranteed by joint and several liability, with a guarantee period of 1 years.

Notice hereby.

Board of directors of Zhejiang Limited by Share Ltd

Two November 7th 19