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< p > all members of the company and the board of directors guarantee that there are no false statements, misleading statements or major omissions in the contents of the announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of the contents of the announcement.

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The twenty-eighth meeting of the first board of directors of the "P" < a href= "http://sjfzxm.com/news/index_f.asp" > nine herd Wang < /a > Limited by Share Ltd (hereinafter referred to as the "company") was convened in February 1, 2013 on the basis of on-site voting and communication voting.

The meeting deliberated and adopted the bill on the establishment of a subsidiary.

The specific situation is as follows: < /p >

< p > 1. Summary of foreign investment < /p >

< p > 1, due to the needs of business development, the company invested 10 million yuan in cash and set up a wholly owned subsidiary in Shannan Prefecture of Tibet autonomous region.

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< p > 2, the total amount of foreign investment is RMB 10 million yuan.

According to the relevant provisions of the articles of association and the major investment management system, the foreign investment matters need not be submitted to the shareholders' meeting for consideration.

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< p > 3, this foreign investment item does not constitute affiliated paction, and does not constitute a major asset reorganization stipulated in the management measures of major asset reorganization of listed companies.

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< p > two, the basic situation of investment and establishment of subsidiaries is less than /p.

< p > 1, company name: Shannan nine Mu Wang commerce and trade limited liability company; < /p >

< p > 2, registered capital: 10 million yuan; < /p >

< p > 3, the nature of the company: limited liability company (wholly foreign-owned enterprise legal person); < /p >

< p > 4, registered place: Shannan hotel; < /p >

< p > 5, business scope: < a target= "_blank" href= "//m.pmae.cn/" > clothing < /a > a target= "_blank" href= "_blank" > dress > wholesale and retail.

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< p > registration is inconsistent with the registration of industry and commerce, and the registration of industry and Commerce shall prevail.

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< p > three, the purpose of establishing a subsidiary and the impact on the company < /p >

< p > 1, through the establishment of subsidiaries in Shannan Prefecture, the company can better develop and manage related businesses in Tibet autonomous region, expand marketing network, and seek higher return on investment for companies and shareholders; < /p >

< p > 2, the source of funds set up by this subsidiary is owned by the company itself. This investment has no significant impact on the company's financial position and operating results.

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< p > four, reference document < /p >

< p > "the first resolution of the twenty-eighth meeting of the board of directors".

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< p > announcement.

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< p > the board of directors of the nine Mu Wang Limited by Share Ltd < /p >

< p > two February 1st 13 < /p >