Shenzhen Textile A (000045): Resolution Of The Seventeenth Session Of The Seven Session Of The Board Of Directors

Announcement of the seventeenth meeting of the seventh board of directors of Shenzhen textile (Group) Limited by Share Ltd

All members of the company and the board of Directors ensure that the contents of the announcement are true, accurate and complete, without false records, misleading statements or major omissions.

The Shenzhen textile (Group) Limited by Share Ltd (hereinafter referred to as "the company") issued a notice of the seventeenth meeting of the seventh board of directors (provisional meeting) on February 22, 2019 by way of special delivery and e-mail. The board meeting was held at the company conference room at 9:00 a.m. on the morning of February 28, 2019.

The meeting should be attended by 9 directors and 9 directors.

The 3 directors were present by means of a communication vote. The independent directors He Qiang, He Zuowen and Cai Yuanqing attended the meeting by means of a communication vote.

The meeting was presided over by Zhu Jun, chairman of the board, and some of its supervisors and senior management attended the meeting.

This meeting is consistent with the provisions of the company law and the articles of association of the company.

The relevant matters discussed and approved by the conference are hereby announced as follows:

(1) the meeting adopted 9 votes, 0 votes against and 0 abstentions, and adopted the motion on capital increase and related pactions of the Shenzhen Crown China printing and dyeing Co., Ltd.

Agreed to improve the company and Chiao Hui Industrial Co., Ltd. shareholders' obligations to invest in Shenzhen Crown China printing and dyeing Co., Ltd., when the company assessed the value, in September 30, 2018, the assessment and recognition results of the crown Hua Building of Shenzhen city's real estate valuation Consultants Limited were used as the basis for capital increase. The value of the corresponding investment of the company and the overseas Chinese Industrial Co., Ltd. in accordance with the 50.16% and 49.84% of the investment in the construction of Guan Hua building was 49 million 935 thousand and 100 yuan and 49 million 616 thousand and 600 yuan RMB, and the same proportion was added to Shenzhen Guan Hua printing and dyeing Co., Ltd., and signed an additional capital agreement with Chiao Hui Industrial Co., Ltd. and Shenzhen Guan Hua printing and dyeing Co., Ltd.

The independent directors of the company issued pre approved opinions and agreed independent opinions on this issue. The details are listed in the March 1, 2019 announcement of the www.cninfo.com.cn company's announcement on the increase of capital and related pactions to the Shenzhen Crown China printing and Dyeing Company Limited (2019-07) and the independent director's prior approval and independent opinion on the capital increase and related pactions of the joint venture company Shenzhen Guan Hua printing and dyeing Co., Ltd.

Two, the meeting adopted 9 votes, 0 votes against and 0 abstentions, and passed the "motion on the establishment of the company's annual performance appraisal and remuneration management for senior management".

It has agreed to establish and improve the remuneration and welfare, performance evaluation and incentive and restraint mechanisms for senior management personnel, effectively implement the company's development strategy and business objectives, and formulate the company's annual management performance appraisal and remuneration management measures for senior managers.

Three, the voting on the revision of the company's salary management system was considered and approved by 9 votes, 0 votes and 0 abstentions.

It has agreed to amend the company's salary management system in accordance with the relevant national labor and personnel management policies and the needs of the company's management and management in order to standardize the company's salary management.

Notice hereby

Shenzhen textile (Group) Limited by Share Ltd

Board of directors March 1st two 19