China Development Bank Financial Leasing Co., Ltd. entered into the Finance Lease Agreement with Hebei Zhenbei New Energy Co., Ltd., pursuant to which, (i) the Lessor purchased the Leased Assets from the Lessee at a consideration of RMB 1,300,000,000, and (ii) the Lessor agreed to lease the Leased Assets to the Lessee with a lease period of 204 months. The terms of the Finance Lease Agreement, including the Leased Assets' transfer consideration, lease principal, lease interest and other expenses under the Finance Lease Agreement, were determined upon arm's length negotiation between the Lessee and the Lessor with reference to the appraised value of the Leased Assets and the prevailing market prices of the same category of finance lease products in the PRC. The Finance Lease Agreement is entered into by the Company during its ordinary and usual course of business.

Entering into the Finance Lease Agreement benefits the Company by increasing revenue from its finance lease business and is consistent with the Company's business development strategy.