Jiaxin Silk (002404): Signing The Monetary Compensation Agreement For House Expropriation

Jiaxin silk (002404) announced in the evening of April 25 that the company held the 16th meeting of the eighth board of directors on April 25, which deliberated and passed the proposal on signing the monetary compensation agreement for housing expropriation. The voting results of the meeting were: 9 votes in favor, 0 against and 0 abstention. It is agreed that the company and Jiaxing Xinxian Investment Development Co., Ltd. and Jiaxing Xingyuan Investment Co., Ltd. sign the monetary compensation agreement for house expropriation, and authorize the management of the company to sign the compensation agreement and handle relevant procedures.

The total building area of the houses involved in the expropriation is 7187.48 square meters, the total area of land use right is 9061.10 square meters, and the total compensation amount is 18.177158 million yuan.

According to the rules for listing shares of Shenzhen Stock Exchange and the articles of association and other relevant provisions, this matter needs to be submitted to the board of directors of the company for deliberation, and does not need to be submitted to the general meeting of shareholders for deliberation.

The above-mentioned house and land acquisition does not constitute related party transactions, nor does it constitute a major asset restructuring as stipulated in the administrative measures for material assets reorganization of listed companies.