Busen Shares Issued A Notice On Supporting The Fight Against New Coronavirus Pneumonia

In February 21st, Busen issued a notice on supporting the epidemic of new coronavirus pneumonia, indicating that the company will expand and transform some of its capacity to produce protective clothing and other epidemic prevention materials, and donate 200 thousand yuan to the advanced individuals in the front-line medical, public security and control staff. The following is the specific content of the announcement.

Since the outbreak of a new coronavirus pneumonia, the Zhejiang Busen apparel Limited by Share Ltd (hereinafter referred to as the "company") is always concerned about the development of the epidemic, actively responds to and maintains relevant laws and policies of the national government, and while fully doing its own prevention and control work, fully supports the work of attacking the new coronavirus pneumonia. In order to fulfill the corporate social responsibility of listed companies, the company fully supports the epidemic prevention and control work by expanding and transforming some of its capacity to produce protective clothing and other anti epidemic materials, and giving donations to the outside world.

1. Expand and transform part of the production capacity to produce protective clothing and other anti epidemic materials.

The wholly owned subsidiary of Zhuji Busen Clothing Co., Ltd. (hereinafter referred to as "Zhuji Busen"), based on the need to cope with the epidemic situation and solve the shortage of protective materials, intends to expand and transform some of its capacity to produce protective clothing and other anti epidemic materials.

(1) the investment of the project, Zhuji Busen intends to invest no more than 5 million yuan, transform part of its capacity to produce industrial grade protective clothing, and expand a production line for the production of medical grade protective clothing. It is expected that the production capacity of industrial protective clothing will be 5000 sets per day, and medical class protective clothing 3000 sets / days.

After the initial efforts of the company, the commissioning of the industrial protective clothing production line is basically completed, and is expected to be put into production within a week.

The production of medical grade protective clothing needs to build purification workshop and other factors. The production line is expected to be completed within three weeks, and will be formally put into production after obtaining relevant production qualification.

(two) other instructions

1, the expansion and renovation investment of the company's production line can be implemented without approval from the board of directors.

2, the investment matters do not constitute affiliated transactions, nor constitute a major asset restructuring of listed companies' management practices.

(three) risk warning

In view of the approval qualification of the medical grade protective clothing production line, it still needs the approval of the relevant competent government departments, and there is a risk that it can not obtain the license qualification in time.

(four) impact on the company

With the support and assistance of the government departments, the company will take active actions to ensure the quality and quantity of the protective clothing products needed to prevent and control the epidemic. We should do our best to carry out epidemic prevention and control work so as to provide more help to fight against the epidemic. It is expected that there will be no significant impact on the company's current operation and investors' interests. Investors should be cautious in making decisions and paying attention to investment risks.

Two, external donations

The company donated 200 thousand yuan to the Red Cross Society of Zhuji, and was targeted at the advanced personal awards of medical, public security and control staff in Zhuji.

The company also actively encourages employees to donate money to fight the epidemic and offer love.

According to the relevant regulations of the Shenzhen Stock Exchange Listing Rules and the articles of association, the donation does not need to be submitted to the board of directors and shareholders' meeting for consideration. The donation does not involve related party transactions.

The company's external donation is to support the fight against pneumonia, in line with the company's commitment to social responsibility, and to enhance the social image of the company. This donation from foreign sources is not a major impact on the current and future performance of the company, nor will it have a significant impact on the interests of investors.