*ST ZOJE'S Replacement Of 800 Thousand Industrial Sewing Machines In Taizhou: Zhang Xuanyao, Chairman Of Taiwan Business

ZOJE resources investment Limited by Share Ltd (hereinafter referred to as "*ST ZOJE") announced in the evening of October 7th that according to the relevant provisions of the articles of association and other relevant provisions, the board of directors of the company elected Zhang Xuanyao as the chairman of the sixth board of directors of the company. The term of office was from the date of the twenty-third (Provisional) meeting of the sixth board of directors to the end of the sixth term of the board of directors.


The announcement shows that Zhang Xuanyao was born in February 1971, Han nationality, and China (Taiwan) nationality. From May 1995 to May 2005, he served as the manager of Taiwan rich sanitary materials Co., Ltd., from January 2006 to March 2008 as vice general manager of Huaxin sanitary dressing Co., Ltd., from April 2008 to November 2012, deputy general manager of Taiwan Iron & Steel Co., Ltd., from April 2008 to November 2012, as vice general manager of Zhong Nen Jian Holding Group Co., Ltd., as a vice general manager of Taiwan Ching Da Construction Co., Ltd., until now, serving as general manager of ZOJE resources.


According to public information, *ST ZOJE was originally named ZOJE shares. Its main business is the development, production and sale of products of high-end industrial sewing machines. It was listed on the Shenzhen Stock Exchange in July 2004, and its actual controller was Cai Kaijian. The company is mainly engaged in R & D, production and sales of mid and high-end industrial sewing machinery. Its products mainly include more than 200 kinds of industrial sewing machine, sewing machine, sewing machine, zigzag sewing machine, special machine and so on. It has the annual production capacity of about 800 thousand industrial sewing machines.


After 2014, by the bankruptcy reorganization of ZOJE group, the largest shareholder of *ST ZOJE, the "Delong" company, Yuhuan Jie Guan Investment Limited, controlled the listed company through the Zhejiang ZOJE supply chain group Limited by Share Ltd (hereinafter referred to as "ZOJE circle", the largest shareholder of *ST ZOJE, and the shareholding ratio of 17.45%), and the legal representative of ZOJE Island, Wan Gang, became the real controller of *ST.


Shortly afterwards, Ningbo Yuanxi equity investment partnership with AOKANG group and Wanxiang investment background (hereinafter referred to as "Ningbo Yuanxi") was granted 112 million 950 thousand shares of ZOJE group, accounting for 16.43% of *ST ZOJE's total share capital, and became the second largest shareholder of *ST ZOJE. In addition, Cai Kaijian still holds 8.85% of the company's shares as the third largest shareholder.


After the "Delong" was settled, the "Delong" old Department entered the senior management level, including the chairman Ma Jiancheng and Zhou Haitao mentioned above, as well as vice general manager Liu Changgui and Dong mi Wang Duan.


After being "controlled" by the "Delong" old Department, the company was renamed ZOJE resources. Business scope is also extended to industrial investment, equity investment and investment management consulting services; mining resources and energy investment, development and operation; new energy products technology research and development, production, sales and so on.


According to the financial report, in the first half of 2019, *ST ZOJE achieved a total revenue of 427 million yuan, down 28.94% from the same period last year, mainly due to the downside of the market, resulting in a decrease in the sales revenue of sewing equipment, and 38.30% of the sales plan for the 2019 annual plan (RMB 1 billion 115 million yuan). The selling expenses increased by 11.55% compared to the same period last year, mainly due to the company's 25th anniversary series marketing activities.


During the reporting period, the investment income decreased by 99.99% compared with the same period last year, mainly in the same period last year. The company's disposal subsidiary Jiangsu Zhongyi confirmed that the investment income was 50 million 505 thousand and 900 yuan. In the reporting period, the company did not deal with the related income of the subsidiary; the assets disposal income decreased by 656.71% compared with the same period last year, mainly due to the discarded fixed assets of ZOJE's technology disposal part of the subsidiary company. The joint effect of the above factors led to the company's operating profit of -2976 million yuan in 2019, a decrease of 192.26% compared with the same period last year, with a total profit of -2865 million, a decrease of 198.18% compared with the same period last year. Net profit attributable to shareholders of listed companies was -2955 yuan, down 207.13% from a year earlier.


During the reporting period, the company reduced the cost and administrative expenses by 14.72% compared to the same period last year, and the financial expenses dropped by 39.68% compared to the same period last year, mainly due to the reduction in the size of loans and the decrease in interest payments by 6 million 48 thousand and 500 compared with the same period last year. The other income was 5 million 110 thousand yuan, representing a 22570.6% increase over the same period last year, mainly due to the increase in government subsidies received by ZOJE, a subsidiary of the company.