Announcement Of China Garments On Shanghai Textile Joint Stock

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China Fashion Limited by Share Ltd on Shanghai China Textile Association

Announcement of 51% equity sale of textile and Garments Co., Ltd.

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure. There is no false record, misleading statement or major omission.

1. Summary of pactions

The company's subsidiary, Sino spinning joint import and export Limited by Share Ltd (hereinafter referred to as "China spinning union") intends to sell its 51% stake in Shanghai Zhongfang Textile Garments Co., Ltd. (hereinafter referred to as "China United").

The matter was examined and approved by the thirty-ninth meeting of the third board of directors of the company.

China Textile Alliance intends to sell 51% stake in the Shanghai joint stock exchange.

Two, the introduction of the paction

Because the pfer of shares is publicly listed, the counterparty is not yet sure.

Three, the basic situation of paction targets

The basic situation of upper China Alliance: upper China alliance was established in 2000, with a registered capital of 5 million yuan, and the shareholding structure is: China Textile alliance holds 2 million 550 thousand yuan in equity, accounting for 51% of the total equity; Shanghai poly Textile Co., Ltd. holds 2 million 450 thousand yuan, accounting for 49% of the total equity.

By the end of 2007, the company's operating scale was 3500-4000 yuan in annual import and export volume, and its profit was around 1 million 800 thousand yuan.