Global Bio chem Technology : JOINT ANNOUNCEMENT DISCLOSURE PURSUANT TO RULE 13.19 OF THE LISTING RULES BREACH OF LOAN AGREEMENTS

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GLOBAL BIO-CHEM TECHNOLOGY	GLOBAL SWEETENERS
GROUP COMPANY LIMITED	HOLDINGS LIMITED
大 成 生 化 科 技 集 團 有 限 公 司 *	大 成 糖 業 控 股 有 限 公 司 *
(Incorporated in the Cayman Islands with limited liability)	(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 00809)	(Stock Code: 03889)

JOINT ANNOUNCEMENT

DISCLOSURE PURSUANT TO RULE 13.19 OF THE LISTING RULES

BREACH OF LOAN AGREEMENTS

This announcement is made by Global Bio-chem Technology Group Company Limited ("GBT", together with its subsidiaries but excluding the GSH Group, the "GBT Group") and Global Sweeteners Holdings Limited ("GSH", together with its subsidiaries, the "GSH Group") pursuant to Rule 13.19 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

BREACH OF LOAN AGREEMENTS

The respective boards of directors of GBT (the "GBT Board") and GSH (the "GSH Board") wish to announce that the following loans owed by the respective members of the GBT Group and the GSH Group have become immediately due and payable:

1. the fixed-term loan under a loan agreement entered into between 哈爾濱大成生物科技有限公 司 (Harbin Dacheng Bio Technology Co., Ltd.*) ("Harbin Dacheng"), which is an indirect wholly-owned subsidiary of GBT, and 大興安嶺農村商業銀行股份有限公司 (Daxinganling Rural Commercial Bank Co., Ltd.*) ("Daxinganling Bank"). Harbin Dacheng has defaulted in the repayment of such loan and the outstanding amount under such loan agreement is RMB50.0 million, being the loan principal, together with outstanding interests (the "Daxinganling Loan"). Harbin Dacheng has provided collaterals to secure such loan; and

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1. the fixed-term loan under a loan agreement entered into between 錦州元成生化科技有限公 司 (Jinzhou Yuancheng Bio-chem Technology Co., Ltd.*) ("Jinzhou Yuancheng"), which is an indirect wholly-owned subsidiary of GSH, and 中國銀行股份有限公司錦州港支行 (Jinzhou Port Branch of Bank of China*) ("Jinzhou BOC"). Jinzhou Yuancheng has defaulted in the repayment of such loan and the outstanding amount under such loan agreement is RMB30.0 million, being the loan principal, together with outstanding interests (the "Jinzhou BOC Loan"). The maximum liability guaranteed by the GSH Group is RMB36.8 million, being the principal amount, together with all interests, liabilities, fees and penalty that may accrue under the loan agreement.

Up to the date of this announcement, Harbin Dacheng and Jinzhou Yuancheng have yet to receive any waiver from Daxinganling Bank and Jinzhou BOC, respectively, in respect of the default of repayment of the Daxinganling Loan and the Jinzhou BOC Loan as mentioned above.

The default in repayment of the Jinzhou BOC Loan by Jinzhou Yuancheng may also trigger cross default of other loan agreements entered into by the GSH Group but such loans will be included in the GSH Group's negotiation with Jinzhou BOC on the next step of the debt restructuring plan of the GSH Group. Further announcement will be made by GBT and GSH as and when appropriate in relation to any progress or details of the next step of the debt restructuring.

Shareholders and potential investors of GBT and GSH are advised to exercise caution when dealing in the shares of GBT and GSH.

By order of the GBT Board	By order of the GSH Board
Global Bio-chem Technology Group Company Limited	Global Sweeteners Holdings Limited
Zhang Zihua	Zhang Zihua
Acting Chairman	Acting Chairman
Hong Kong, 27 April 2021

As at the date of this announcement, the GBT Board comprises two executive Directors, namely, Mr. Zhang Zihua and Mr. Liu Shuhang; one non-executive Director, namely, Mr. Gao Dongsheng; and three independent non-executive Directors, namely Ms. Dong Hongxia, Mr. Ng Kwok Pong and Mr. Yeung Kit Lam.

As at the date of this announcement, the GSH Board comprises two executive Directors, namely, Mr. Zhang Zihua and Mr. Tai Shubin; and three independent non-executive Directors, namely, Mr. Fan Yeran, Mr. Fong Wai Ho and Mr. Lo Kwing Yu.

• for identification purposes only

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