Ruyi Group Intends To Issue Shares To Purchase Asset Transaction Price To Be Determined.

Today, Shandong Ruyi group clothing group Limited by Share Ltd (Ruyi group.002193.sz) announced that Ruyi Group intends to issue the shares to Shandong Jing Da Technology Industrial Development Co., Ltd. (hereinafter referred to as Shandong Jing DA) to buy 74.36% stake of China Ruyi science and Technology Development Group Co., Ltd. (hereinafter referred to as "Ruyi technology"), to Beijing Ruyi fashion Klc Holdings Ltd (hereinafter referred to as "Ruyi fashion"), China Cinda Asset Management Corp (hereinafter referred to as "China XinDa"), Shandong Jing Da to buy its 60% stake in Jining Ruyi brand licensing (hereinafter referred to as "Jining Ruyi brand").

Today, Shandong Ruyi group clothing group Limited by Share Ltd (Ruyi group.002193.sz) announced that Ruyi Group intends to issue the shares to Shandong Jing Da Technology Industrial Development Co., Ltd. (hereinafter referred to as Shandong Jing DA) to buy 74.36% stake of China Ruyi science and Technology Development Group Co., Ltd. (hereinafter referred to as "Ruyi technology"), to Beijing Ruyi fashion Klc Holdings Ltd (hereinafter referred to as "Ruyi fashion"), China Cinda Asset Management Corp (hereinafter referred to as "China XinDa"), Shandong Jing Da to buy its 60% stake in Jining Ruyi brand licensing (hereinafter referred to as "Jining Ruyi brand").

According to the announcement, Ruyi Group intends to purchase 74.36% stake in Shandong VTech, which is held by Jing Da, and purchase 60% stake in Jining Ruyi brand, Ruyi fashion, China XinDa and Shandong Jing da. After Ruyi fashion completed the 40% stake in Jining Ruyi brand, which is purchased by Guangda Xinglong trust limited liability company, Ruyi Group intends to sign another agreement to purchase 40% stake in Jining Ruyi brand to Ruyi fashion, so as to finally achieve the 100% stake in Jining Ruyi brand.

Ruyi group said that as the audit and assessment have not yet been completed, the specific transaction price has not yet been determined, the board of directors will be convened again to deliberate on the relevant matters and the shareholders' meeting convened by the board of directors to consider the motion related to this major asset reorganization.

According to public information, Ruyi group was founded in December 28, 1993. The company is located in the Ruyi Industrial Park of Jining hi tech Zone. The legal representative and the actual controller are Qiu Yafu. The company mainly deals with the design, production and sale of textiles, clothing and clothing, production and sales of related products such as textile machinery and fittings, textile raw materials and accessories, the scope of import and export business; the research and development, promotion, transfer, consultation and service of textile and clothing technology; and the housing leasing business. Quarterly reports showed that Ruyi group's operating income in the first quarter of 2019 reached 266 million yuan, an increase of 17.78% over the same period last year, and net profit attributable to shareholders of listed companies was 10 million 120 thousand yuan, an increase of 4.79% over the same period last year.