Nanfang Shares: Related Spanactions Announcement On The Company'S Borrowing From Related Parties

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

Important note:

Transaction content: the company borrows 35 million yuan to the affiliated Nanjing Nan Tai Group Co., Ltd., and the loan term is twelve months. The loan interest rate is the benchmark interest rate of the people's Bank of China, that is, the annual interest rate is 6%.

The impact of spanaction on Listed Companies: this related spanaction will alleviate the pressure of fund demand in the short run and meet the needs of normal operation and development of the company.

This spanaction is related party spanactions.

In the past 12 months, there are related spanactions between the company and Nanjing Nan Tai Group Co., Ltd.

Overview of related party spanactions

In October 14, 2014, the Nanjing textile import and export Limited by Share Ltd (hereinafter referred to as "company" or "Nanfang share") signed the loan contract with the affiliated Nanjing Nantai Group Co., Ltd. (hereinafter referred to as "Nantai group"). The company borrowed 35 million yuan from Nantai group, the loan period was twelve months, and the annual interest rate was 6%. This loan is the renewal of twelve month loan signed in October 17, 2013.

According to the provisions of the Shanghai Stock Exchange Listing Rules, this loan item constitutes a related spanaction.

Two. Introduction of related parties

1. The basic situation of the affiliated party

Nanjing Nan Tai Group Co., Ltd.: the registered address is No. 82 Taiping North Road, Xuanwu District, Nanjing. The registered capital is RMB 70 million yuan; the legal representative is Yang Guoxin. General business items: management and operation of authorized Limited by Share Ltd, limited liability company's state-owned shares and state owned assets of state-owned enterprises; meetings and exhibitions; self employment and agency of import and export of all kinds of commodities and technologies (except for state limited companies operating or prohibiting import and export commodities and Technology); sales of general merchandise, hardware and electrical, electronic products, chemical products, metal materials and building materials; and sales of motor vehicles and motorcycles.

2. Correlation

Nat Tai Group is a wholly owned subsidiary of Refco Group Ltd, a controlling shareholder of the Nanjing business and tourism development company. According to the provisions of the Shanghai Stock Exchange Listing Rules, the South Thai group belongs to our company's related legal person, and the spanaction between the company and the South Thai group and its holding subsidiary is a related spanaction.

3, major financial data

As of December 31, 2013, the total assets of Nan Tai Group were 812 million yuan, net assets of 221 million yuan, and operating income of 513 million yuan in 2013 and net profit of 30 million 554 thousand and 900 yuan.

According to the fifty-sixth guideline for implementation of related spanactions of listed companies on the Shanghai stock exchange, which is implemented in May 1, 2011, "related persons provide financial assistance to listed companies, and the interest rate of financial assistance is not higher than the benchmark lending rate stipulated by the people's Bank of China at the same time, and if a listed company has no corresponding mortgage or guarantee for the financial subsidy, the listed company may apply to the Institute for exemption from deliberation and disclosure in accordance with the way of affiliated spanactions."

Three, the basic situation of related party spanactions

　　 Borrower Nanjing textiles import and export Limited by Share Ltd

Lender: Nanjing Nan Tai Group Co., Ltd.

The company signed the loan contract with the South Thai group. The contract stipulates that the company will borrow 35 million yuan to the Thai group. The loan period is twelve months. From October 9, 2014 to October 8, 2015, the lending rate is the benchmark rate of RMB loans published by the people's Bank of China, that is, the annual interest rate is 6%.

Four, the pricing policy and pricing basis of the spanaction.

According to the contract, the loan interest rate is the benchmark interest rate for RMB loans announced by the people's Bank of China at the same time, that is, the annual interest rate is 6%. The loan interest rate method is: Quarterly settlement, the 20 quarter of each quarter is the interest settlement day, payable at the end of each quarter and 30 days. Interest is calculated from the borrower's actual borrowing date, and the daily interest rate is calculated to be 360 days a year based on the actual amount of borrowing and the amount of money spent.

Five, the purpose of related party spanactions and its impact on the company.

The company's borrowing from related parties can ease the pressure on short-term demand for funds. The purpose of this loan is to supplement company liquidity, which is in line with the needs of normal operation and development of the company.

Six, the history of related spanactions.

In the past 12 months, in addition to the related spanactions of this announcement, the company has the following related spanactions with Nan Tai Group:

1, correlation Claims Debt spanactions: as of the announcement date, the balance of funds provided by Nan Tai Group is 35 million yuan.

2, daily related spanactions: 2014, the company and the Thai Group Holdings subsidiary Nanjing kins Clothing Co., Ltd. to carry out the related party spanactions, see the company's thirty-ninth announcement in 2014, the matter has been considered by the company's second provisional shareholders' meeting in 2014.

3, leasing matters: in September 16, 2014, the company signed a five year lease agreement with Nanjing kins Clothing Co., Ltd., a subsidiary of the South Thai group, as detailed in the company's provisional Announcement No. forty-fifth in 2014.

Seven. Reference documents

The loan contract signed by the company and Nanjing Nan Tai Group Co., Ltd.

Notice hereby

The board of directors of Nanjing textiles import and export Limited by Share Ltd

October 16, 2014