Announcement: China Textile Machinery Limited By Share Ltd Continues To Suspend Business

< p > A share securities code: 600610 A shares short: S textile machinery serial number: pro 2013-020 < /p >
< p > b share code: 900906 B share securities short: China spinning B shares < /p >
< p > China < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > mechanical Limited by Share Ltd < /p >
< p > continued suspension notice < /p >
< p > all members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the announcement, and are jointly and severally liable for the false record, misleading statement or major omission of the announcement. < /p >
< p > China's textile machinery Limited by Share Ltd (hereinafter referred to as the company or company) has been suspended since June 3, 2013 on account of the first, second major shareholders of the company being engaged in the settlement and negotiation of the shares and related matters of the transfer company (see the company's Announcement No. 2013-013). The reconciliation plan formed by the two major shareholders needs further negotiation and demonstration, and has been declared to the relevant parties. It has been suspended since June 13, 2013, 20, 27, and July 4th (see company's Pro 2013-014, 016, 017, 018 notices). < /p >
< p > during the suspension period, the company received the notice of the first largest shareholder, Pacific (601099, Guba) electromechanical (Group) Co., Ltd. (hereinafter referred to as "Pacific Group"). The company's two largest a href= "http://www.91se91.com/news/index_cj.asp" > shareholder < /a > is stepping up efforts to push forward the consultation, demonstration and related reporting and communication of the reconciliation plan, and there is still uncertainty. In order to ensure fair information disclosure and safeguard the interests of investors and avoid abnormal fluctuations in the company's stock price, the company's A and B share stocks continue to be suspended from July 11, 2013, and the relevant progress announcement will be published in July 18th. < /p >
< p > announcement. < /p >
< p > China Textile Machinery Limited by Share Ltd < /p >
< p > July 11, 2013 < /p >.
< p > A share securities code: 600610 A shares short: S textile machinery serial number: pro 2013-021 < /p >
< p > b share code: 900906 B share securities short: China spinning B shares < /p >
< p > China Textile Machinery Limited by Share Ltd < /p >
< p > five 126 resolutions of the board of directors announcement < /p >
< p > all members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the announcement, and are jointly and severally liable for the false record, misleading statement or major omission of the announcement. < /p >
< p > the 126 board of directors of the China Textile Machinery Limited by Share Ltd (hereinafter referred to as "the company") was convened in July 9, 2013 by way of communication. The meeting should be attended by 10 directors and 10 directors actually participated in the meeting. The meeting considered and passed the following motion: < /p > five.
< p > "motion on the follow-up technological transformation of the industrialization of G6500 import project": < /p >
< p > 1. The related situation of this technical transformation is < /p >.
< p > the G6500 technology import project of the company has been deliberated and approved by the board of directors and shareholders' meeting. The project implementation is in an orderly way. As of now, the company has used the technology to produce a new shuttleless loom, and the purchase and technical transformation of the first, second phase of the project has been basically completed. In order to further improve the industrialization of G6500 series rapier looms, the company intends to carry out subsequent technological transformation to increase output and meet market demand. After analysis and demonstration, and the implementation requirements of the national development and Reform Commission of the national development and Reform Commission (NDRC), "developing new technical rapier loom technical transformation projects for industrial textiles", it is planned to start the implementation of the technical transformation plan for the equipment, carry out major repair and control system transformation for some existing equipment (including: 2 T20 horizontal machining centers, 1 T30 processing centers, 2 T40 machining centers, 2 HT40S CNC lathes, 2 HT25S CNC lathes, 1 S40CNC314 grinder, 1 SK21NW CNC cam grinder), and repair and maintenance of mechanical and electrical equipment (including: 1 YZJ995-ZM movable beam spindle Longmen milling machine), and the total investment is expected to be about 17 million 800 thousand yuan. < /p >
< p > 1, source of funds: the company's funds for the purchase and transformation of equipment mainly come from the company's < /p >.
Bank loans less than P. 2, the way of implementation: through public bidding, invitation bid, parity purchase and other means of equipment purchase, equipment transformation, facilities transformation and other technical transformation. < /p >
< p > two, the expected situation of this technological transformation is < /p >.
< p > after the technical transformation is completed, the manufacturing capacity and level of the company will be significantly improved, and it will be able to meet the requirements of mass production of G6500 series products in a long period of time in the future. < /p >
< p > the Board agreed with the motion and authorized the implementation of the management team. < /p >
< p > voting results: 9 votes, 0 votes against, 1 abstentions (director Lei Xiaohua abstained). < /p >
< p > announcement. < /p >
< p > China < a href= "http://www.91se91.com/news/index_c.asp" > textile machinery < /a > Limited by Share Ltd < /p >
< p > board of directors < /p >
< p > July 11, 2013 < /p >.