Jiangsu Xinmin Textile Polytron Technologies Inc Stock Trading Abnormal Fluctuation Announcement

< p > > a href= "http://sjfzxm.com/news/index_p.asp" > Jiangsu Xinmin textile Polytron Technologies Inc < /a > (hereinafter referred to as "company" and "company") share price has been closed for three consecutive trading days (April 18, 2014, April 21, 2014, April 22, 2014) closing price deviation value accumulated more than 12%, according to the provisions of the Shenzhen stock exchange stock trading rules, it belongs to abnormal fluctuations in stock trading.

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< p > all members of the company and the board of directors guarantee that the contents of the information disclosure are true, accurate and complete, without false records, misleading statements or major omissions.

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< p > Jiangsu Xinmin textile Polytron Technologies Inc (hereinafter referred to as "company" and "our company") share price has been closed for three consecutive trading days (April 18, 2014, April 21, 2014, April 22, 2014) closing price deviation value accumulated more than 12%, according to the provisions of the Shenzhen Stock Exchange stock trading rules, it belongs to abnormal fluctuations in stock trading.

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< p > 1, in April 15, 2014, the company issued the first amendment notice for the first quarter of 2014 in the giant tide information network and the securities times. In April 18, 2014, the general risk presentation and resumption notice of the board of directors on the sale of major assets and related pactions was issued by 2013-037, which disclosed the relevant information on the sale of the major assets and related pactions of the company. The contents of the announcement are true, accurate and complete, and there are no false statements, misleading statements or major omissions in the contents of the 2014-035.

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< p > 2, the company did not find any recent public media coverage of possible or already significant impact on the stock trading price of the company.

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< p > 3, there has been no significant change in the company's business and internal and external business environment in recent years.

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< p > 4, < a href= "http://sjfzxm.com/news/index_p.asp" > enquiry < /a > except for the sale of the major assets and related pactions disclosed by the companies mentioned above, there are no other major issues that should be disclosed and not disclosed by the company and its controlling shareholder, orient Xinmin Holding Co., Ltd., Dongfang Hengxin Capital Holdings Group Limited and the actual controller, Mr. Jiang Xueming.

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< p > 5, upon enquiry, the company and its controlling shareholder, orient Xinmin Holding Co., Ltd., Dongfang Hengxin Capital Holdings Limited and its actual controller, Mr. Jiang Xueming, did not buy or sell shares of the company during the abnormal fluctuations of the stock exchange.

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< p > < strong > three, whether there is a statement that should be disclosed without disclosing information < /strong > < /p >

< p > the board of directors of the company confirmed that in addition to the above matters that have already been considered by the Fourth Board of directors at the twenty-second meeting of the company, the company has not disclosed any matters related to the relevant rules such as the Listing Rules of the Shenzhen Stock Exchange or other related matters, such as planning, negotiation, intention, agreement, etc., and the board of directors has not received the information that the company has disclosed and has not disclosed to the trading price of the company's stock and its derivative products according to the relevant provisions of the Shenzhen Stock Exchange Listing Rules, etc. besides the above information, there is no need for correction and supplement to the information disclosed by the company in the early stage.

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< p > 1, after self inspection, the company does not exist in violation of information fair disclosure.

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< p > 2, the April 15, 2014 announcement of the first quarter of April 15, 2014 revised Notice No. 1 issued by the company in 2014 has not been much different from the actual situation.

The company's quarterly report for the first quarter of 2014 will be disclosed in April 29, 2014.

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< p > 3, the company solemnly reminded investors: whether the company's major asset sale and related pactions can be approved by the shareholders' general meeting and approved by the China Securities Regulatory Commission and the final approval time is uncertain. Investors should carefully read the "significant risk warning" disclosed in the report on the sale of major assets and related pactions of Jiang Su Xinmin textile Polytron Technologies Inc: < /p >

< p > < strong > (1) the risk of examination and approval < /strong > /p >

< p > April 17, 2014, the company signed a share pfer agreement with Dong Heng Xin, which has been examined and approved by the twenty-second session of the Fourth Board of directors of the company.

The paction needs to be submitted to the shareholders' general meeting for deliberation and approved by the China Securities Regulatory Commission. All the above deliberations and approvals are the preconditions for entry into the paction. Whether there is any uncertainty in whether to pass the examination and approval documents and to obtain the approval documents of the CSRC and the final approval time is obtained.

Therefore, this paction has the risk of examination and approval.

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< p > < strong > (two) the uncertainty of the pfer of assets in this major asset sale may lead to the risk of termination of this paction < /strong > /p >

< p > up to February 28, 2014, the total amount of the equipment pferred and exchanged between the new people's chemical fiber company and the listed company was 1 billion 185 million yuan, and the new man-made chemical fiber plan paid the payable amount to the listed company through the way of undertaking the bank debt of the listed company. The details are as follows: "the summary of the first chapter paction", "the overall restructuring plan of the chemical fiber and printing and dyeing business of the company", "(two) the progress of the business integration and reorganization implementation", "6, the measures to solve the pactions and guarantee between the listed company and the new people's chemical fiber and the new people's printing and dyeing", 6.

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< p > as of the date of this booklet, our company has obtained the letter of consent from the major creditor banks such as CCB and Bank of China. It involves about 1 billion yuan in debt pfer, which accounts for more than 85% of the amount of funds payable by new chemical fiber companies and other creditor banks.

In view of the pfer of bank debt is the main way to solve the new monk chemical fiber listed company's payment, although the company has obtained the consent of the main creditor bank about debt pfer, there is still uncertainty in the company's bank debt pfer, which may affect the paction and even cause the paction to terminate.

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< p > our company particularly reminds investors of this risk.

The company will fulfill the obligation of information disclosure in accordance with the relevant provisions of the China Securities Regulatory Commission and the Shenzhen Stock Exchange.

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< p > < strong > (three) the risk of suspension, suspension or cancellation of this reorganization is less than /strong > /p >

< p > according to the provisions of the circular on strengthening the regulation of the abnormal trading of stocks related to major asset reorganization of listed companies, if there is a significant abnormality in the stock trading before the suspension of the major asset reorganization matters, there may be a risk of being investigated for the insider trading, leading to the risk that the major asset reorganization is suspended and terminated.

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< p > if the reorganization is suspended, suspended or cancelled for any reason or other reason, and the listed company plans to restart the reorganization, the paction pricing and other trading conditions may be significantly changed compared with the restructuring plan disclosed in this report, so that investors should pay attention to the risk of investment.

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< p > < strong > (four) the risk of capital occupation is less than /strong > /p >

< p > up to February 28, 2014, the total amount of new chemical fiber accounts payable to listed companies amounted to 1 billion 185 million yuan, mainly between equipment pfer and exchange payments between listed companies.

Xinmin chemical fiber plans to repay debts payable to listed companies by undertaking the bank debt of listed companies. The details are as follows: "five summary of the first chapter of pactions", "the overall restructuring plan of the company's chemical fiber and printing and dyeing business", "(two) the progress of the business integration and reorganization implementation", "6, measures to solve the pactions and guarantee between the listed companies and the new people's chemical fiber and new people's printing and dyeing".

As for the date of delivery of the target assets, if there is still a balance in the amount of the new man-made chemical fiber listed company, the related party will occupy the capital of the listed company.

Dong Heng Xin, the pferee of the paction, has promised that if there are still outstanding payables in the process of processing the underlying assets, it will not be later than December 31, 2014 to repay the difference between the above 100% months after the completion of the pre entry into force agreement on the agreement on the pfer of shares of the new people's chemical fiber and the 100% equity interest of the new Min chemical fiber company within 6 months after the completion of the pfer agreement with the Xinmin [-4.98% Fund Research Report.

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< p > If Dong Heng Xin fails to settle the payable amount of new Min chemical fiber to the listed company during the commitment period, it will lead to the risk that the listed company does not occupy the capital of the listed company.

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< p > < strong > (five) the risk of affiliated guarantee is < /strong > /p >

< p > as of the date of this booklet, Xinmin technology has provided a credit guarantee for the wholly owned subsidiary of Xinmin chemical fiber bank in the form of surety bond.

Dong Heng Xin, the pferee of the paction, has issued a promise that the company and its associated parties agree to act as guarantor guarantor for the above bank loans of Xinmin chemical fiber bank to undertake the original guaranty liability of Xinmin technology, and will actively cooperate with the guarantor to change the guaranty matters so as to realize the pfer of Xinmin technology guarantee liability.

As of the date of delivery of this paction, if the guarantor of the above bank debt has not completed the change, there will be a risk that the listed company will provide the associated party guarantee for the related party after the completion of the paction.

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< p > < strong > (six) industry risk < /strong > < /p >

< p > after the reorganization is completed, the main business of our company will be changed from the chemical fiber manufacturing industry to the textile industry, and the industry category of the company has changed greatly.

In view of the obvious difference between the types of business before and after the reorganization, the company's current business mode, management system, internal control system and management team will make necessary adjustments and improvements according to the needs of business development after the reorganization is completed, which may have an impact on the production and operation of our company.

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< p > < strong > (seven) volatility risk of stock price < /strong > /p >

< p > this paction will have a certain impact on the subsequent financial status and operating income of listed companies, and may affect the stock price of the two tier market.

The fluctuation of stock market depends not only on the business performance of enterprises, but also on the macroeconomic cycle, interest rate, and the relationship between supply and demand of funds, and at the same time, it will also fluctuate due to changes in international and domestic political and economic situation, speculation in stock market and psychological factors of investors.

Therefore, the stock market price may fluctuate, which will bring some risks to investors.

Listed companies remind investors to face up to the risks of stock price fluctuations.

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< p > < strong > (eight) the risk of long-term non dividend after reorganization is less than /strong > /p >

< p > according to the audit report no. [2014]0136 issued by Huapu Tianjian, the undistributed profit of listed companies as of December 31, 2013 is -27805.27 yuan (parent company).

Because the demand for textile industry is still low and the industry boom is limited, the company may be affected by these adverse factors after the reorganization. The company may not have the conditions of dividend payment, and it will not be able to cash dividends to shareholders during a certain period after reorganization.

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