The board of directors of the Strong Petrochemical Holdings Limited announced that on 11 December 2020, the Company entered into shareholder's loan agreements with each of Mr. Wang Jian Sheng and Mr. Yao Guoliang, the controlling shareholders of the Company, pursuant to which each of Mr. Wang and Mr. Yao agreed to provide an unsecured term loan of HKD 60 million, in aggregate of HKD 120 million to the Company. Each of the Shareholder's Loans will bear an interest of 1-month Hong Kong Interbank Offered Rate plus 1.75% per annum. The Company shall repay the Shareholder's Loans in full on 10 March 2021 or upon demand. The Company has a choice to extend the Repayment date by three calendar months, subject to mutual agreements with the lender of the relevant loan. The Shareholder's Loans will be utilised by the Company to support its operating activities.