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Dabeinong Receives 2 Billion Financing from Huaxia Bank to Support Comprehensive Financial Cooperation

Source: Author: Date: November 9, 2018

After signing a contract with Hengfeng Bank Xi'an Branch in June this year, Dabeinong (002385) received bank financing support again.

On the evening of November 8, Dabeinong announced that Dabeinong and Hua Xia Bank Co., Ltd. Beijing Branch signed the "Bank-enterprise Cooperation Agreement" on the same day. Both parties regard each other as important partners and will give full play to their respective In the field, we can achieve common development through business cooperation and maximize the benefits of both parties.

According to the "Agreement", Dabeinong will combine its group advantages with the financing advantages of Hua Xia Bank Beijing Branch to jointly explore diversified investment and financing methods, jointly establish investment and financing platforms, and improve the construction of investment and financing systems. Huaxia Bank Beijing Branch will provide financing services for Dabei farmers with a cooperation amount of no more than RMB 2 billion in accordance with the actual needs of Dabei farmers under the premise of complying with the relevant credit policies, systems and procedures of the regulatory authorities and Party B. Not limited to factoring financing, logistics financing, structured financing, trade financing, syndicated loans, guarantees, working capital loans, project loans, bill business, bond financing agents, etc.

Hua Xia Bank Beijing Branch will provide cash management and logistics financial services to Da Bei Nong, including providing a full range of cash management services for itself and its members within the group to improve the efficiency of Party A's fund management; and Its upstream and downstream partners provide logistics financial business services, design targeted service plans, stabilize Party A's sales channels, and support the development of its distributors (suppliers).

Dabeinong promised to handle deposits, loans, fund settlement and online banking at Huaxia Bank Beijing Branch to the maximum extent. Dabeinong will give full play to the group's overall organizational and coordination advantages in accordance with the company's overall development strategic plan, recommend various business cooperation needs to Hua Xia Bank Beijing Branch, and give priority to recommending the company's business scope within the same financial services. For key construction projects, assist them in their early development and reserve work, and stabilize and increase the loan share of Beijing Branch of Hua Xia Bank on the basis of close cooperation between the two parties.

The announcement said that the signing of this agreement is conducive to the continuous and extensive cooperation between Dabeinong and Huaxia Bank Beijing Branch, which will help strengthen the cooperation between the two parties in the field of investment and financing, support the company's comprehensive development, prevent financial risks, and help the company's future operations. Development has a positive role to play. After the establishment of the bank-enterprise cooperation relationship, Hua Xia Bank Beijing Branch will provide the company with high-quality and comprehensive financial services in accordance with the actual needs of the company, and create a broader development space for the company. The company combines its own group advantages with the financing advantages of Huaxia Bank Beijing Branch to jointly explore diversified investment and financing methods, jointly establish investment and financing platforms, and improve the construction of investment and financing systems.This will significantly improve the company's financing capabilities and capital management capabilities. Broaden the company's financing channels, improve financing efficiency, and provide financial support for the company's various business development.

During the signing ceremony on the day, representatives of the two sides exchanged views on further expansion of cooperation areas and cooperation details. Zhang Lizhong, president of Dabeinong Group, said that in the new era of the country's strong support for the development of private enterprises, banks and enterprises will jointly explore more diversified investment and financing methods, broader areas of cooperation, and more through complementary advantages and strong alliances. The deep space for cooperation has created a win-win situation for multiple parties and contributed more to the development of China's agricultural modernization.

Li Daying, President of Huaxia Bank Beijing Branch, stated in the report of the 19th National Congress of the Communist Party of China that “to support the development of private enterprises and strengthen innovation support for SMEs”, the Beijing Branch responded to the central government ’s call under the unified deployment of the party committee of the head office of Huaxia Fully support the development of private enterprises. As a national agricultural high-tech enterprise, Dabeinong Group is committed to developing China's modern agricultural undertakings with high technology. It is a leader among Chinese private enterprises, and it fully supports the Beijing Branch of Huaxia Bank in both strategic direction and development direction. The development positioning of technological innovation and practicing the brand strategy of "SME financial service providers" is highly consistent. In the future cooperation, Hua Xia Bank Beijing Branch will set up a professional service team to customize personalized comprehensive financial service solutions for Dabeinong Group to help enterprises become stronger and better.

Li Junjie, member of the Standing Committee of the Haidian District Party Committee and deputy head of the district, mentioned in the speech that under the current economic situation, the Haidian District Government has the responsibility to support the development of high-quality private enterprises. The government and banks have joined hands to make a positive impact on boosting the market. Huaxia Bank's support for key enterprises in Haidian District has created a good atmosphere for diversified cooperation between banks and enterprises.

Chen Zhongheng, vice president and secretary of the board of directors of Dabeinong Group, said that Beijing Branch of Huaxia Bank actively responded to national policies and provided tangible help to enterprises, which indeed injected more momentum into the development of the company. Farmers will be more rational and more cautious in implementing funds.