Fangguan Shares: The company does not have a substantive credit issue of overdue bills

Fangfeng Corporation announced that the company has been informed that the media reported that the company’s accumulated overdue amount of electronic commercial drafts reached 70 million yuan, with a total overdue balance of 30 million yuan. After verification, the 70 million yuan overdue bills consist of two bills. One bill of 40 million yuan was one day late due to the bank’s delayed payment notice, but the company has successfully handled discount financing and cleared the payment. The other bill of 30 million yuan was not successfully processed for discount financing due to insufficient discount limit at the bank, but the bill has been accepted and cleared by the acceptor, with no current overdue situation. As of the disclosure date of the announcement, the company does not have a substantial credit issue with overdue bills.