Luen Fat Shares (002394): Progress Of Item Company In Indonesia'S Annual 66 Million M High Grade Woven Fabric

Jiangsu Unicom's Limited by Share Ltd's progress on the establishment of the 66 million year old top grade woven fabric in Indonesia Notice

All members of the company and the board of Directors ensure that the contents of the announcement are true, accurate and complete, and there are no false statements, misleading statements or major omissions.

I. investment profile

Jiangsu Lian FA textile Limited by Share Ltd (hereinafter referred to as "company") convened the first provisional shareholders meeting in 2019, and passed the "motion on the construction of an investment of 66 million m high grade woven fabrics in the country" in 2019. It agreed that the company and PT Ungaran Sari Garments (hereinafter referred to as "PTU") to invest in Indonesia to set up item company "Lian FA textile (Indonesia) Co., Ltd.", for more details, the company's May 17, 2019 announcement on the project of investing in the construction of 66 million m high grade woven fabric in Indonesia was announced in May 17, 2019 (bulletin number: LF2019-021).

Two. Progress

In the course of promoting the project, in order to comply with the requirements of the regulatory authorities on overseas investment of domestic enterprises, the company changed its foreign investment platform from the wholly owned subsidiary of the joint venture textile (Hongkong) Limited company to the wholly owned subsidiary of Hongkong (Hongkong) Limited company (hereinafter referred to as "Sheng Sheng"), a wholly owned subsidiary established by the company. A joint venture between Hongkong and PTU holding company, Pu Shin Nan Clothing Co., Ltd. (hereinafter referred to as PU Nan Nan) is established in Hongkong. Liancheng textile (Hongkong) Co., Ltd. (hereinafter referred to as "Liancheng"), has a registered capital of 50 million US dollars, of which: 45 million of US $90%, and 90% of its stake.

Jointly founded by Liancheng and Sheng Sheng, the joint venture textile (Indonesia) Limited was set up in Indonesia as the main body of the project, with a registered capital of US $50 million, of which the sage holds 0.1% equity and Liancheng holds 99.9% equity interest.

Three. Registration status

Recently, the company has received the approval of the Republic of Indonesia Ministry of justice and human rights of "Lian FA textile (Indonesia) Limited". The relevant registration information is hereby announced as follows:

1. Company Name: PT LIANFA TEXTILE INDONESIA (Luen Fat textile Indonesia Co., Ltd.)

2, registration number: 9120501823605

3, registered capital: 720 billion Indonesian shield

4, registered address: INDONESIA, Kel. Brangsong, Kec. Brangsong, Kab.Kendal, Prop. Jawa Tengah

5, business scope: textile industry, etc.

6. Shareholder structure:

Four. Reference documents

1. Registration certificate of Saint Saint investment (Hongkong) Limited.

2. Registration certificate of Liancheng textile (Hongkong) Co., Ltd.

3. Republic of Indonesia Ministry of justice and human rights approval

4, PT LIANFA TEXTILE INDONESIA business license

Notice hereby!

Board of directors of Jiangsu Luen Fat textile Limited by Share Ltd

October 14, 2019