Bank of China signed pledge and supervision agreement with Third Party Guangdong Lanyue and Defendant Fangchenggang Port, by which Guangdong Lanyue pledged its owned coal to Bank of China and the pledged coal was stored with and supervised by Fangchenggang Port. Against such agreement, the bank provided finance to Guangdong Lanyue. Post execution of the agreement, Guangdong Lanyue delivered various shipments of coal to Fangchenggang Port, and part of the coal was released to Guangdong Lanyue against Bank of China’s prior written permission as provided in the pledge agreement.