Jiaxin Silk (002404): The Progress Of Repurchase Company Shares

Progress announcement of Zhejiang Jiaxin silk Co., Ltd. on repurchase of company shares

The company and all members of the board of directors guarantee that the information disclosure content is true, accurate and complete, and there are no false records, misleading statements or major omissions.

Zhejiang Jiaxin silk Co., Ltd. (hereinafter referred to as "the company") held the 30th meeting of the 7th board of directors on June 22, 2020, deliberated and passed the "proposal on continuing to buy back the company's shares". On the basis of the previous repurchase of 501545949 yuan, we will continue to use our own funds to buy back the company's shares in the form of centralized bidding transaction for equity incentive or employee stock ownership plan. The total amount of repurchase funds shall not be less than (including) 50 million yuan, not more than (including) 100 million yuan, and the repurchase price shall not exceed (including) 8.5 yuan / share. The implementation period is within 12 months from the date when the company's board of directors deliberates and approves the plan for continuing to buy back shares. For details, please refer to the announcement on further repurchase of the company's shares (Announcement No.: No

　　2020-035)。 On June 24, 2020, the company disclosed the report on further repurchase (Announcement No.: 2020-041) on securities times, Shanghai Securities News and www.cninfo.com.cn.

Progress of share repurchase

In accordance with the administrative measures for repurchase of public shares by listed companies (for Trial Implementation), supplementary provisions on repurchase of shares by listed companies through centralized competitive bidding, and detailed rules for the implementation of repurchase of shares by listed companies of Shenzhen Stock Exchange, the company shall announce the progress of repurchase as of the end of last month within the first three trading days of each month. The relevant information is hereby announced as follows:

As of August 31, 2020, the company has not yet started to implement this repurchase.

2、 Other instructions

The company will continue to implement the repurchase plan within the repurchase period according to the market conditions, and will timely fulfill the obligation of information disclosure according to the provisions of relevant laws, regulations and normative documents during the repurchase period. Please pay attention to the investment risk of the majority of investors.

It is hereby announced.

Board of directors of Zhejiang Jiaxin silk Co., Ltd

September 2, 2020