Greenland Tech unit lends $1M to related party Cenntro at 7.5% interest

Greenland Technologies Holding Corp.

Loan of up to $1M from indirect subsidiary Zhongchai HK to Cenntro Inc., a related party.
Interest rate 7.50% per annum; maturity April 14, 2026.
Proceeds for working capital; approved by GTEC audit committee of independent directors.
Peter Zuguang Wang, GTEC chairman/director, also CEO/chairman of Cenntro, owns 45.69% of GTEC.
GTEC CEO Raymond Wang was excluded from negotiations due to conflict.

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