Pu’er Lancang Ancient Tea Co., Ltd. (Lancang Tea) disclosed that its wholly-owned subsidiary, Guangzhou Kangrui Lancang Ancient Tea E-commerce Co., Ltd., signed a Credit Agreement on 22 April 2026 with China Merchants Bank’s Guangzhou Branch for a revolving working-capital facility capped at RMB10.00 million (USD-equivalent not disclosed).

To secure the borrowing, the parent company and another wholly-owned subsidiary, Pu’er Lancang Ancient Tea Renhe Co., Ltd., will each execute a Maximum Amount Irrevocable Letter of Guarantee, assuming joint and several liability for all obligations arising under the facility (Contract No. 120XY260421T000197).

Management states that the arrangement widens the Group’s funding channels, supports operational liquidity and improves its liability structure. The Board, including all independent non-executive directors, considers the terms of both the loan and the guarantees fair, reasonable and on normal commercial terms. China Merchants Bank and its ultimate beneficial owners are confirmed as independent third parties to the Group.

The announcement is voluntary and does not specify additional financial covenants or collateral requirements.