Zhejiang Busen Clothing Announcement on Promise Performance

On October 31, 2012, Zhejiang Busen Clothing Co., Ltd. issued an announcement on the implementation of the promise.
The company and all members of the board of directors ensure the truthfulness, accuracy, and completeness of the information disclosed, and there are no false records, misleading statements or major omissions.

Zhejiang Busen Apparel Co., Ltd. (hereinafter referred to as "the company" and "the company") is in accordance with the "Notice on the Special Disclosure of Uncompleted Commitments of Listed Companies in Zhejiang Province" issued by Zhejiang Securities Regulatory Commission of the China Securities Regulatory Commission (Zhejiang Securities Regulatory Commission) The word [2012] No. 200) carefully cleaned and inspected the fulfillment of shareholders and related parties and their commitments that have been completed and have not yet been completed.

After self-examination, the company's various commitments over the years have been strictly implemented. As of now, the commitments that are still being fulfilled are as follows:

I. Stock restrictions on circulation and voluntary lock-in commitments

The total share capital of the company prior to this issuance is 70 million shares, and 23.38 million shares are planned to be issued this time, and the total share capital after the issue is 93.34 million shares. All the above shares are tradable shares.

1. The shareholders of the company, Busen Group, Dashen Investment, and Wu Yongjie promised that within 36 months from the date of the listing of the company's shares on the stock exchange, the company would not transfer or entrust others to manage the issuers held prior to this offering. The shares are also not repurchased by the issuer for the portion of shares held by it.

Commitment period: April 12, 2011 - April 12, 2014.

As of the announcement date, the promisee strictly complied with the above commitments.

2. The company actually controls the members of the Life Insurance Family Chen Nengen, Shou Caifeng, Chen Jianfei, Chen Jianguo, Wang Jianjun, Chen Zhijun, Chen Zhiyu, Wang Jianxia, ​​Wang Jianli, Shou Nengfeng, Shou Helei and Wu Yongjie: Commitment to company stocks on the stock exchange Within thirty-six months from the date of the listing, no transfer or entrustment of others to manage the issuer’s shares held directly or indirectly prior to the issuance of the issue will not allow the issuer to buy back the shares it held directly or indirectly.

Commitment period: April 12, 2011 - April 12, 2014.

As of the announcement date, the promisee strictly complied with the above commitments.

3. The shareholders of the company, Meibang Knitting, Xuan Mengyan, Chen Chaoshui, Gao Yonghong, Wang Gang, Wang Peiqing and Yuan Jianjun promised that they would not transfer or entrust other people to manage their holdings prior to the issuance within 12 months from the date of the company's stock listing. The issuer’s shares are also not repurchased by the issuer for the portion of shares held by the issuer.

Commitment period: April 12, 2011 - April 12, 2012.

As of the announcement date, the promisee strictly complied with the above commitments.

4. The directors, supervisors and senior managers of the company promised that the number of shares transferred each year during their term of service should not exceed 25% of the total number of shares held by the company; they should not transfer their holdings within six months after leaving the company. Company shares; Within twelve months after the date of declaration of leaving office, the number of shares sold through the stock exchange listing transaction accounts for no more than 50% of the total number of company shares held by the company.

Commitment period: long-term effective.

As of the date of the announcement, the promisee has strictly fulfilled the above commitments.

Second, to avoid competition in the industry commitment

1. In order to avoid competition with the company, the Busen Group and Dasson Investment hereby make the following special commitments:

(1) As of the signing date of this letter of commitment, the Company and other companies or other organizations controlled by the Company did not engage in the same or similar business as the issuer.

(2) The company and other companies or other organizations controlled by the company will not engage in the same or similar business as the issuer in China or abroad.

(3) If the issuer is engaged in a new business area in the future, the company and other companies or other organizations controlled by the company will not engage in the issuer's new business either in the form of holding company within China or outside the country, or in the form of equity participation but substantial control. In the business field, there are direct competitive business activities, including companies that invest in, buy, and merge in China and abroad, and those directly engaged in new businesses in the future by Busen Fashion, or other economic organizations.

(4) The company promised not to seek unfair advantage with the controlling shareholder status of the issuer or the status of the company controlled by the actual controller, thereby harming the rights of the other shareholder of the issuer. If the company’s and other companies or other organizations controlled by the company violate the aforementioned commitments and cause the issuer’s rights and interests to be compromised, the company promises to bear the corresponding damages liability to the issuer. ”

Commitment period: long-term effective.

As of the date of the announcement, the promisee has strictly fulfilled the above commitments.

2. The company's directors, supervisors and senior management personnel are committed to the following competition in order to avoid competition with Busen apparel:

During the six months after serving as a director, supervisor, or senior management member of Buoshen apparel, I do not directly or indirectly engage in or participate in any competition in the business with or to cause competition with Busen apparel. Business and activities, or the rights and interests of any economic entity, institution, or economic organization that has a competitive relationship with Busen apparel, or any other form of control over the economic entity, institution, or economic organization, or the economic entity or organization And key management personnel in economic organizations.

Commitment period: long-term effective.

As of the date of the announcement, the promisee has strictly fulfilled the above commitments.

3. The issuer’s commitment to actually control members of the Life Insurance Group to avoid competition with the industry is as follows:

(1) I guarantee that I will not directly or indirectly engage in or participate in any business or activity that commercially competes with or may cause competition with Buhomok Apparel, or have any economic entity that competes with Bumthon Apparel. , the rights and interests of institutions, economic organizations or, in any other form, obtain control of the economic entities, institutions or economic organizations, or act as senior management personnel or core technical personnel in such economic entities, institutions or economic organizations;

(2) I assure that my immediate family member complies with this commitment;

(3) I am willing to bear all the economic losses caused by my own family and my immediate family members who violated these commitments.

Commitment period: long-term effective.

As of the date of the announcement, the promisee has strictly fulfilled the above commitments.

Special announcement.

Zhejiang Busen Clothing Co., Ltd.

NON WOVEN FUSIBLE INTERLINING

NON WOVEN FUSIBLE INTERLINING,High Quality NON WOVEN FUSIBLE INTERLINING,NON WOVEN FUSIBLE INTERLINING Details, CN

ChangXing B.H Interlining Co.,Ltd , https://www.bhinterlining.com