*ST Velvet ((000982): Abnormal Fluctuations In Stock Trading

Ningxia cashmere industry Limited by Share Ltd announcement on abnormal fluctuations in stock trading

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure. There is no false record, misleading statement or major omission.

Special risk warning:

1, in January 31, 2019, the company issued the 2018 annual performance notice. After preliminary calculation by the company's financial department, the company will lose 17 to 2 billion 500 million yuan in 2018, and the loss is expected to be huge.

Because the company was brought up by the creditor for bankruptcy reorganization proceedings (see November 16, 2018 announcement in the designated media, Announcement No. 2018-111), if the court accepts the case before the end of April 2019, the company will have a change in the basis of accounting statement preparation at the end of 2018, and the amount of loss will also increase substantially.

2, in January 31, 2019, the company issued the 2018 annual performance notice. The estimated net assets at the end of the year are -59303.89 to 206 million 961 thousand and 100 yuan. If the company's actual loss amount in 2018 exceeds the net assets of the company at the end of 2017, it will cause the net assets per share of the company to be negative.

We invite investors to keep a close watch on the company's subsequent information disclosure, and carefully read the above risk tips disclosed by the company, and pay attention to investment risks.

1. Abnormal fluctuations in stock pactions

Ningxia Bank of China Limited by Share Ltd (hereinafter referred to as "company" or "our company").

*ST middle velvet, stock code: 000982) the stock price in March 21, 2019, March 22nd and March 25th continued for three consecutive days. The closing price deviated from the total value reached 12.45%. According to the relevant provisions of the Shenzhen stock exchange, the company's stock trading is abnormal fluctuations in pactions.

Two, the company pays attention to and verifying the situation.

In view of the abnormal fluctuation of stock trading, the company has verified the related matters, and now it will verify the situation.

The following are the following:

1, there is no need to correct and supplement the information disclosed by the company in the early stage.

2, the controlling shareholder and the actual controller and shareholders holding more than 5% of the company do not have any major issues that should be disclosed but not disclosed by the company.

3, no public information has been reported in recent public media on possible or already significant impact on the stock trading price of the company. 4, the controlling shareholder, the actual controller and the shareholder holding more than 5% have not traded the company's stock during the abnormal fluctuation of the stock paction.

5, there is no violation of fair information disclosure regulations.

Three, there should be no disclosure and no disclosure of information.

The board of directors confirms that, in addition to the above, there are no matters to be disclosed and not disclosed in accordance with the relevant provisions of the Shenzhen Stock Exchange listing rules or related matters such as planning, negotiation, intention, agreement, etc. the board of directors has not received the information that the company has disclosed in accordance with the relevant provisions of the Shenzhen Stock Exchange Listing Rules and has not been disclosed, which has a greater impact on the trading price of the company's stock and its derivatives.

Four, the necessary risk warning

1, there is no violation of information fair disclosure after the company's self-examination.

2, in January 31, 2019, the company issued the 2018 annual performance notice. After preliminary calculation by the company's financial department, the company will lose 17 to 2 billion 500 million yuan in 2018, and the loss is expected to be huge.

Because the company was brought up by the creditor for bankruptcy reorganization proceedings (see November 16, 2018 announcement in the designated media, Announcement No. 2018-111), if the court accepts the case before the end of April 2019, the company will have a change in the basis of accounting statement preparation at the end of 2018, and the amount of loss will also increase substantially.

3, the company issued a 2018 annual performance forecast in January 31, 2019. The final net assets of the company are estimated to be -59303.89 million to 206 million 961 thousand and 100 yuan. If the company's actual loss in 2018 exceeds the company's net assets of 1 billion 906 million 961 thousand and 100 yuan at the end of the year 2017, the company's net assets per share will be negative.

4, as of the date of this announcement, the company has been lawfully charged with financial institutions and other creditors for unliquidated maturity debts of 2 billion 535 million 799 thousand and 100 yuan, US $27 million 368 thousand and 100 and euro 14 million 400 thousand and 900 yuan.

5, as of the date of this announcement, the controlling shareholder of the Cashmere Group holds 481496444 shares of the company's shares, accounting for 26.6751% of the total share capital of the company, and 481496000 shares of the company's total Pledged Shares, accounting for 26.675% of the total share capital of the company, accounting for 99.9999% of the shares held by the Cashmere Group, and 481496444 shares of the company's shares held by the central government are all frozen by the judiciary and their shares have been frozen for 9 times.

The situation that the shares held by the Cashmere Group are frozen by law and waiting for a freeze have not seriously affected the daily production and operation of the company.

The shares of the cashmere group can not be sold directly or be liquidated in the two tier market before the thaw.

However, if the Cashmere Group is subject to judicial disposal after being frozen by justice and waiting for a freeze, it may lead to a change in the actual control of the company.

6, the company will strictly carry out the information disclosure work in strict accordance with the requirements and requirements of laws and regulations, and remind investors: the information disclosure media designated by the www.cninfo.com.cn, the China Securities Journal, the Shanghai Securities Journal, the securities times, and the Securities Daily are all designated by the company. All the information of the company is based on the information contained in the above designated media, and investors should pay attention to the risks.

Notice hereby.

Ningxia BOC cashmere Limited by Share Ltd March 26th two 19