Longitude And Weft Textile Machinery Holding Large Shareholders Is Waiting For Freezing

10, Jingwei Textile Machinery announced that the controlling shareholder of China Textile

The announcement shows that in the process of preparing the issue of the non-public offering of stocks by the Jingwei Textile machinery, according to the due diligence investigation by the intermediary, it was learned that 33.83% of the shares held by the Chinese textile machinery company (a total of 204 million shares) were frozen by the Beijing second intermediate people's Court (hereinafter referred to as "Beijing second middle school") and the Shanghai Higher People's Court (hereinafter referred to as the "Shanghai High Court") in addition to being frozen by the higher people's Court of Beijing.

The warp and weft held by China Textile Machinery

In November 2010, the Shanghai High Court ruled that the China Textile machinery company was jointly and severally liable for the 100 million yuan loan from China Huayuan Group Limited.

The 33.83% stake of China Textile Machinery holding Jingwei Textile machinery was frozen by the Shanghai high court in June 2010 (the waiting period is 24 months).

Before the above two equity freeze occurred, the 33.83% share of Jingwei Textile machinery held by Chinese textile machinery was frozen by the Beijing Higher People's court in September 2007. The freezing of the share interest has not yet been lifted and the date of thaw is September 9, 2012.

Why have not disclosed the above two equity freeze matters?