Nine Dragons Paper (Holdings) Limited (ND Paper) has signed a facility agreement with a syndicate of banks for a RMB2.00 billion term loan, according to a disclosure made on 15 June 2026 under Hong Kong Listing Rule 13.18.

The facility carries a three-year tenor starting from the signing date in June 2026, giving it an expected maturity in June 2029.

A key covenant stipulates that the loan becomes immediately due and payable if Chairlady Ms. Cheung Yan and her family members—including Mr. Liu Ming Chung, Mr. Zhang Cheng Fei, Mr. Ken Liu and Mr. Zhang Lianpeng—collectively cease to own or control at least 51% of the company’s issued share capital or lose management control.

ND Paper will provide ongoing disclosure of its compliance status in line with Listing Rule 13.21.

The board currently consists of five executive directors (Ms. Cheung Yan, Mr. Liu Ming Chung, Mr. Zhang Cheng Fei, Mr. Ken Liu, Mr. Zhang Lianpeng) and four independent non-executive directors (Ms. Chan Man Ki, Dr. Li Huiqun, Dr. Cao Zhenlei, Mr. Sun Po Yuen).