Xia Ke Environmental Color Spinning: Significant Progress And Stock Suspension

Stock Code: 002015 securities short: *ST Xia off announcement number: 2014-082

Xia Ke environmental color spinning Limited by Share Ltd

Announcement on major progress and continued suspension of stocks

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

Jiangsu Xia Ke environmental protection colored spinning Limited by Share Ltd (hereinafter referred to as the "company"), for the purpose of disclosing major matters, has been suspended from the opening of the stock market on the morning of July 17, 2014, according to the relevant provisions of the Shenzhen stock exchange's Listing Rules and the guidelines for the standardized operation of the SME board listed companies.

In October 9, 2014, the company received the "notice" of the intermediate people's Court of Wuxi, Jiangsu. The creditor company's subsidiary company, Chuzhou Anxing environmental protection coloured Fiber Co., Ltd. reorganized the applicant company of the Wuxi intermediate people's Court of Jiangsu Province on the ground that the company could not repay its due debts.

Refer to the "Notice of applicant company's reorganization of creditors" published in October 10, 2014 (Bulletin number: 2014-077).

As of the date of this announcement,

The ruling of Wuxi intermediate people's Court of Jiangsu province has not yet received a ruling on the reorganization of creditors' applicant company.

Whether the application of the creditor is accepted and whether the company has entered the reorganization proceedings is still of great uncertainty.

The company will disclose the relevant progress of the reorganization application in a timely manner.

Because the company's controlling subsidiaries can not repay debts due to maturity, there is a debt crisis. The company is planning a solution. The relevant matters have not yet been determined. In order to protect the interests of the vast majority of investors and avoid the sharp fluctuations in the price of the company's stock (securities referred to as "*ST Xia Xia" and "code for securities" 002015 "), the stock market of applicant company will continue to suspend business until the Shenzhen stock exchange is confirmed. After the confirmation of relevant matters is resumed, investors should pay close attention to it and pay attention to investment risks.

Notice hereby.

Jiangsu Xia Ke environmental color spinning Limited by Share Ltd board

October 24, 2014

Stock Code: 002015 securities short: *ST Xia off announcement number: 2014-083

Jiangsu Xia Ke environmental color spinning Limited by Share Ltd's announcement on the holding subsidiary's receipt of the decision of Hefei customs administrative penalty

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

Jiangsu Chuzhou Xia Xing environmental color spinning Limited by Share Ltd (hereinafter referred to as "company") subsidiary of Chuzhou Anxing environmental protection color Fiber Co., Ltd. (hereinafter referred to as "Chuzhou Xing") received the administrative penalty decision (October 21, 2014 [2014]17) signed by Hefei customs in October 21, 2014. The main contents are announced as follows:

I. violation facts:

From March 2013 to December 2013, the parties handled 12 manual processing trade manuals such as C33093350005 with the company as the business unit and processing unit to the Chuzhou customs.

The manuals for import are two pairs of stupid, two formic acid, 1 formic acid, 1 2- ethylene glycol, and the finished products are polyester chips and non combed polyester staple.

Subsequently, the parties involved in the above manual import bonded materials refined to the stupid two formic acid 2651.356 tons, other pairs of stupid two formic acid 30308.3 tons, 1, 2- ethylene glycol 13772.825 tons.

In March 11, 2014, the Chuzhou customs inspecting the above 12 manuals of the parties being operated, found that the total inventory of bonded materials was 216.7 tons, two tons of two formic acid, 179.661 tons of 1 formic acid, 370.3452 tons of 2- ethylene glycol, 1542.75 tons of pet products and 4531.9578 tons of polyester staple fibers.

According to the accounting, the parties are short of bonded materials. They are two tons of stupid acid, 1233.5072 tons of formic acid, 20343.521 tons of two formic acid, 1 tons of 2- glycol and 8076.8318 tons of ethylene glycol.

The parties can not provide proper reasons for the shortage of the above-mentioned materials.

Upon examination, the case involved a total value of 241763700.79 yuan.

In the process of handling cases, the parties actively cooperate with the customs investigation and voluntarily pay 20895512.95 yuan for the case guarantee.

In the process of handling 12 manual processing trade manuals such as C33093350005, the parties are short of bonded materials, which are 1233.5072 tons of stupid two formic acid, two tons of other formic acid, 20343.521 tons of formic acid, 1 tons of 2- glycol and 8076.8318 tons, which can not provide a legitimate reason. It has already constituted the processing business of bonded goods handled by the regulations of the People's Republic of China customs administrative penalty implementation.

In view of the fact that the litigants actively cooperate with the customs investigation and take the initiative to pay the full amount of the guarantee money, according to the third provisions of the first paragraph of the first paragraph of the twenty-seventh administrative penalty law of the People's Republic of China and the eighteenth provision of the first paragraph of the eighteenth administrative penalty implementation regulations of the People's Republic of China customs, I decided to impose a lighter punishment on the client office for a fine of $16 million.

The parties shall, within 15 days from the date of service of the penalty decision, according to the "administration of the People's Republic of China".

The provisions of the forty-fourth and forty-sixth articles of the Punishment Law shall fulfill the above-mentioned punishment decisions.

If a party refuses to accept the decision of this punishment, he shall, in accordance with the ninth and the first section of the administrative reconsideration law of the People's Republic of China.

Twelve, the provisions of the fourteenth and thirty-ninth articles of the administrative procedure law of the People's Republic of China may apply for administrative reconsideration to the General Administration of Customs of People's Republic of China within 60 days from the date of service of the penalty decision, or within 3 months from the date of service of the penalty decision, directly to the Hefei intermediate people's court.

1, in view of the problems found in the Hefei customs inspection, the company took active and effective measures to carry out serious rectification so that the problems could be corrected in time.

(1) require Chuzhou Anxing Customs personnel to seriously study the relevant laws and policies of feed processing, be familiar with the process of feed processing, and apply to the Customs for proper use of the processing materials for the domestic sale, and go through the corresponding procedures of paying taxes and paying taxes.

(2) Chuzhou Anxing has taken the customs investigation since March 2014 due to the company financial crisis, and has taken the customs investigation to actively cooperate with the customs. It explains the reasons for the fact, so as to get the understanding and support of the customs, reduce the punishment for Chuzhou Xing Xing, and has paid 20 million 895 thousand and 500 yuan to the customs as of September 2014.

2, the customs administrative penalty has no impact on the company's import and export business, and the company's import and export business is developing normally.

3, the company will draw lessons from it conscientiously and strictly regulate the company's import and export business in accordance with the requirements of laws and regulations such as the People's Republic of China Customs Law, so as to prevent such incidents from happening again.

Notice hereby.

Jiangsu Xia Ke environmental color spinning Limited by Share Ltd board

October 24, 2014