Xingyuan Environmental announced that Hangzhou Zhongyi Yichun Branch, a subsidiary of Zhejiang Xingyi Ecological Environment Engineering Co., Ltd., a wholly-owned subsidiary, signed a “Debt Transfer Agreement” with Heilongjiang Yichun Forest Engineering Group Shanding Construction Engineering Co., Ltd., and Hangzhou Zhongyi Yichun Branch transferred the 35 million yuan claim due from the Yichun headquarters to Sengong Shanding Construction to deduct the 35 million yuan payable for the project. This transfer is without recourse and does not constitute a related transaction or major asset restructuring.

Xingyuan Environmental announced that Hangzhou Zhongyi Yichun Branch, a subsidiary of Zhejiang Xingyi Ecological Environment Engineering Co., Ltd., a wholly-owned subsidiary, signed a “Debt Transfer Agreement” with Heilongjiang Yichun Forest Engineering Group Shanding Construction Engineering Co., Ltd., and Hangzhou Zhongyi Yichun Branch transferred the 35 million yuan claim due from the Yichun headquarters to Sengong Shanding Construction to deduct the 35 million yuan payable for the project. This transfer is without recourse and does not constitute a related transaction or major asset restructuring.