Huafang (600448): Financial Assistance

Announcement of China Textile Co., Ltd. on obtaining financial subsidies

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of the contents.

I. Basic information on obtaining subsidies

Since March 30, 2020, the company has received a total of 1.6133 million yuan of subsidy funds. The details are as follows:

1. On March 30, 2020, the company received 34100 yuan of "2020 Municipal Foreign Trade and economic development special fund" allocated by Bincheng treasury centralized payment center of Binzhou City;

2. On April 7, 2020, the company received 110000 yuan from Binzhou Bincheng treasury centralized payment center.

3. On May 29, 2020, the company received 76600 yuan from Binzhou public employment and talent service center;

4. On June 22, 2020, the company received RMB 71100 from Binzhou Veterans Affairs Bureau;

5. On July 9, 2020, the company received 50000 RMB yuan from the Department of human resources and social security of Shandong Province;

6. On August 7, 2020, the company received a subsidy of RMB 228400 from Binzhou Medical Security Service Center;

7. On August 26, 2020, the company received the "talent carrier Award" of 180000 yuan from Bincheng District Science and Technology Bureau of Binzhou City.

8. On September 4, 2020, the company received a payment of RMB 63100 from Bincheng financial security center of Binzhou City.

9. On September 30, 2020, the company received a "brand construction subsidy" of 800000 yuan from Bincheng market supervision and Administration Bureau of Binzhou City.

Types of subsidies and their impact on Listed Companies

According to the accounting standards of 2020, the accounting results of the company will be positively affected by the accounting standards.

Please pay attention to the investment risk. It is hereby announced.

Board of directors of Huafang Co., Ltd

October 10, 2020