Ningxia BOC Cashmere Limited By Share Ltd Investment Announcement

< p > March 21, 2014, at the twenty-third meeting of the Fifth Board of directors of the company, 9 votes, no votes and no abstentions passed the motion on the construction of an ecological migrant knitting factory. According to the relevant provisions of the Shenzhen Stock Exchange Listing Rules, the investment does not constitute related pactions.

The investment must be approved by the shareholders' meeting of the company.

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Under the support of the local government, after investigation and demonstration, the company intends to build a knitted supporting project in the "a href=" http://www.91se91.com/news/index_c.asp "Yinchuan" /a "city, Yue Yue Lake, Helan County, Hong Ning Town, Yongning County, Ningning county and Haiyuan new district.

It not only solves the employment problems of the surplus labor force in the southern mountain areas, but also fulfills social responsibilities and promotes the increase of immigrants' income. At the same time, it can support the Lingwu Park project of the Ningxia eco textile industry demonstration park, which is being built, and adjust the product structure of the company.

The specific situation is as follows: < /p >

< p > < strong > (1) < a href= > http://www.91se91.com/news/index_c.asp > Yue Yue Lake < /a > knitting factory < /strong > /p >

< p > this project is located in the crescent lake ecological area of Yinchuan. It covers an area of 88.5 Mu and a building area of 18147.71 square meters. The land, plant and ancillary facilities used by the project are all provided by the local government free of charge. After completion, the project is delivered to the company for use, and the production equipment is purchased by the company itself.

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< p > < strong > (two) Hong Guang knitting factory < /strong > < /p >

< p > this project is located in Helan Province Hong Guang town immigrant ecological area, covers an area of 102 mu, and the construction area is 18147.71 square meters. The land, workshop and ancillary facilities used by the project are all provided and built by the local government for free, and the production equipment is purchased by the company itself.

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< p > < strong > (three) min Ning knitting factory < /strong > < /p >

< p > this project is located in the immigrant ecological zone of Min Ning Town, Yongning County, with an area of 58.85 Mu and a building area of 17956.26 square meters. The land, workshop and ancillary facilities used by the project are all provided and built by the local government for free, and the production equipment is purchased by the company itself.

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< p > < strong > (four) Haiyuan knitting factory < /strong > < /p >

< p > this project is located in Haiyuan charity Industrial Park, covering 115.96 Mu and building area of 19700 square meters.

All investments in the project are undertaken by the company. The investment in civil engineering is 97 million 172 thousand yuan, and the ownership of the land plant is owned by the company.

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< p > the above four < a href= "http://www.91se91.com/news/index_c.asp" > knitting factory < /a > total investment is 176 million 109 thousand yuan, of which the total investment of equipment is 78 million 937 thousand yuan, and the source of funds is the combination of self financing and external financing.

The annual production capacity of 4 million knitted garments can be set up as the independent production unit of the company, with independent accounting of each factory and no independent legal person qualification.

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< p > investment and construction of the project is to meet the needs of existing production and operation.

In recent years, as the company has improved its industrial chain and industrial technology upgrading, its market competitiveness has been constantly strengthened, and its market share has increased year by year, and its business volume has continued to increase.

In order to ensure the normal operation of the company's operation, after investigation and demonstration, and with the strong support of the local government, the company built an eco immigration knitting factory in the Ningxia autonomous region to adjust the product structure of the company and meet the needs of the company's business development. At the same time, because of the potential development of the project, a new development mode of ecological migration and industrial poverty alleviation was formed, which played a positive role in solving the problem of land lost immigrants' employment and increasing social stability, and was conducive to scientific planning and community harmony in the production management of enterprises.

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