YINTAI

Statement

In response to the recent announcement of the progress of the litigation between Ningbo Yintai Real Estate Company Limited ("Project Company") and Bank of Communications Financial Leasing Co., Ltd. issued by Yunnan Chengtou Real Estate Company Limited ("Yunnan Chengtou"), a listed company, we declare as follows.

The project company is currently an absolute holding subsidiary of Yunnan Chengtou, which is fully responsible for the operation and management. As a minority shareholder, our company does not participate in the operation and management of the project company. Regarding the litigation between the project company and Bank of Communications Financial Leasing Co., Ltd. mentioned in the above announcement, the parties have reached a mediation agreement under the auspices of the court. Hence, the case has been concluded.

Hereby declare.

China Yintai Holdings Co., Ltd., June 22, 2022