The board of directors of CT Environmental Group Limited announced that on 30 December 2016, the group has obtained term loan facilities of approximately RMB 667 million (which shall mature in 1 to 7 years from the date of the respective facility agreements) from Industrial and Commercial Bank of China Limited and a term loan facility of RMB 230 million (which shall mature in 12 years from the date of the facility agreement) from China Construction Bank Corporation. The New Banking Facilities are obtained to finance the group's capital expenditures and to be used as general working capital.