Huafang Textile: Major Asset Reorganization Matters Approved By The SFC

Huafang textile announced in September 9th that

The company received the approval of the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission") on Approving the major asset restructuring of Huafang textile Limited by Share Ltd, and approving the purchase of assets and raising matching funds to Zhejiang Jiahua group Limited by Share Ltd and other issuing shares (SFC license No. 2014918), former permitted company's major asset restructuring and the issuance of 932465261 shares to the 96 parties of Zhejiang Jiahua group, Limited by Share Ltd, for the purchase of assets.

Former permitted company's non-public offering does not exceed 104384133 shares.

Raise the matching funds of this issue stock to purchase assets.

On the same day, the Zhejiang Jiahua group Limited by Share Ltd and its concerted action received the CSRC's approval of the Zhejiang Jiahua group Limited by Share Ltd and the concerted action announcements of Huafang textile Limited by Share Ltd acquisition report and the exemption of its offer obligation. (SFC license No. 2014919) was exempted from its reasons.

Subscribe to hold 595519791 shares of Huafang textile Limited by Share Ltd, accounting for about 44.05% of the total share capital of the company and should fulfill the obligation to offer an offer.