Wuhan Dangdai Mingcheng Culture and Sports Group Co. Ltd.'s full interest paid on H20 Mingcheng 3 bond from April 22, 2022 to April 21, 2023, and the principal due this year were not transferred to the Shanghai Branch of China Securities Depository and Clearing Co. Ltd. as scheduled, with an amount of CNY 48.25 million.

As of the date of this announcement, Contemporary Culture and Sports has failed to pay the principal and interest of this bond.