Announcement of Zhejiang Golden Eagle Limited by Share Ltd on controlling shareholders' lifting of shares and re mortgage

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 the contents.

In January 24, 2019, the Zhejiang Golden Eagle Limited by Share Ltd (hereinafter referred to as "the company") received the notice of the controlling shareholder of Zhejiang Golden Eagle Group Limited (hereinafter referred to as "Golden Eagle Group") about the lifting of some shares and pledge again.

I. specific circumstances of pledge

In January 23, 2019, the golden eagle group lifted the 10 million shares of the company's unlimited sale of tradable shares (2.74% of the total share capital of the company) from the Huaxia Bank Limited by Share Ltd Zhoushan branch, and continued to pledge 11 million 800 thousand shares of the bank (3.24% of the total share capital) for financing. The company has completed the pledge registration process at the Shanghai branch of China Securities Depository and Clearing Co., Ltd.

As of the announcement date, Golden Eagle Group held 177173451 shares of the company, accounting for 48.58% of the total share capital of the company.

After the lifting of the pledge and the subsequent pledge, the Golden Eagle Group accumulated 151330000 shares of the pledge, accounting for 85.4% of the number of shares held, accounting for 41.5% of the total share capital of the company.

Two. Pledge of controlling shareholders

Golden Eagle Group's equity pledge is the normal financing needs of enterprises.

The Golden Eagle Group has the ability to repay funds and has enough risk control ability. The sources of repayment include its business income, operating profit, investment income and so on.

Jinying group's equity pledge will follow a risk of liquidation. The Golden Eagle Group will take positive measures, including, but not limited to, supplementary margin and early repayment. The company will perform relevant information disclosure according to the company's share pledge freeze and the risk of controlling shareholders' pledge.

Notice hereby.

Zhejiang Golden Eagle Limited by Share Ltd board of directors

January 24, 2019