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Announcement on Liquidation of Shanghai Huayu Wool and Jute Import and Export Co., Ltd.

2016-04-14

The Company?s board of directors and all the directors guarantee the announced information does not contain any false record, misleading statement or significant omission and will bear several and joint responsibilities for the authenticity, accuracy and completeness of the announced information. As of the resolution made by the 2011 second interval meeting of the 7th Board of Directors, dated Aug. 15, 2011, on the liquidation of Shanghai Huayu Wool and Jute Import and Export Co., Ltd. (see announcements on Shanghai Securities News and Hong Kong Wen Wei Po dated Aug. 16, 2011), it is hereby reported that the said liquidation has been closed. The Company has recently received from Shanghai Municipal Industrial and Commercial Administration Pudong New Area Branch the Notification on Approval of Company Cancellation, based on which the said company is officially cancelled. Hereby the Company has fully executed the resolution of the board on the item concerned. Shanghai Sanmao Enterprise (Group) Co., Ltd Nov. 30, 2011