Seven Wolves Loan 150 Million Yuan Guarantee Gold Chain

Yesterday, the Fujian seven wolves industrial Limited by Share Ltd (hereinafter referred to as "seven wolves") announcement said that the company received a notice from the major shareholder Fujian seven wolf Group Co., Ltd. (hereinafter referred to as the "seven wolf group"). The seven wolves group mortgaged the company's 10 million Tradable shares to the China Minsheng Banking Corp branch of Fuzhou as an additional guarantee for the bank to apply for the credit line of RMB 150 million yuan, and the pledge period was until July 24, 2009.

At present, the seven wolves group holds 115171875 shares of the seven wolves, accounting for 40.71% of the total share capital of the company. The 10 million share of the pledge accounts for 3.53% of the total share capital of the company. In addition to this pledge, the company has not set any guarantee for other tradable shares held by the seven wolf group.

Yesterday, reporters repeatedly called seven wolves, but its stakeholders did not disclose what the loan will be used for.

In this regard, analysts believe that the impact of the global financial tsunami, China's clothing and textile industry has been greatly affected in this crisis, so maintaining a good capital chain is one of the most critical factors for enterprises to tide over the crisis.