AHB

pending

   The proposed IFC investment is a RMB500 million A loan to Qinhuangdao Huaheng Bioengineering Co., Ltd. (“QHB” or the “Company”), a wholly owned subsidiary of Anhui Huaheng Biotechnology Co., Ltd. (“AHB” or the “Guarantor”) headquartered in Hefei, Anhui Province of China. Founded in 2005, AHB is a leading provider of amino acids, vitamins, and bio-based material monomers produced using synthetic biology methods. It has been listed on the Shanghai Stock Exchange Science and Technology Innovation Board since 2021. AHB official website: http://www.huahengbio.com/ QHB is one of AHB's key subsidiaries, located in Qinhuangdao, Hebei Province of China. It is the primary base of research and development, production, and sales for AHB’s main product, Alanine, with an annual capacity of 30,000 tons. QHB is now extending its product mix, adding an annual capacity of 50,000 tons of malic acid and 12,000 tons of tryptophan to its existing facility, which the proposed IFC loan will support (the “Project”). The malic acid production line was constructed and commissioned in early 2024. The local environmental authority recently approved the environmental impact assessment (EIA) of the tryptophan project in March 2024. According to the information provided by the Company, tryptophan production will share most equipment/utilities with the malic acid production line, and thus, only a few modifications of the current QHB facility are needed for the tryptophan project.