*ST 002072.SZ announced that in August 11, 2015, the shareholders' meeting of the company adopted the relevant motion on the report on the sale of major assets of the company (Draft) and its summary motion. Since October 10, 2015, the company has issued monthly announcement on the implementation of major asset sales in accordance with relevant regulations.
In view of the fact that the sale of major assets has not been fully implemented, according to the relevant provisions of the management measures of major asset reorganization of listed companies, the progress made in the implementation of this major asset sale is described as follows:
As of the announcement date, the company received a total of 538 million 520 thousand yuan for the sale of major textile assets, and the remaining amount of 277 million 228 thousand and 700 yuan (hereinafter referred to as "arrears") failed to recover.
In April 28, 2019, the largest shareholder of the company, the fifth quarter Industrial Co., Ltd. signed the contract with the company and its subsidiary company, the brocade Cotton Textile Co., Ltd., which voluntarily undertook the obligation to pay for the remaining arrears. The fifth quarter debt undertaking will help the company to recover the maximum amount of arrears. The transaction constitutes a related transaction and is required to be submitted to the shareholders' general meeting for deliberation before it becomes effective. But the deal was not voted on at the 2018 annual general meeting held in June 14, 2019.
The board of directors and management of the company are checking the actual performance payment ability of the relevant parties of the arrears, and strive to urge relevant parties to implement repayment measures to maximize the interests of the company and shareholders.