Huaying Agriculture: Announcement On The Cancellation Of Hualong Down Company

Stock Code: 002321 securities abbreviation: Hua Ying agriculture bulletin number: 2014-060

Henan Huaying agricultural development Limited by Share Ltd

Notice on the cancellation of Hualong down company

The company and all directors guarantee the authenticity, accuracy and completeness of the announcement, and there is no falsehood.

Records, misleading statements or major omissions.

1, about the basic situation of the cancellation of the subsidiary.

In order to effectively integrate the existing down resources and production capacity of the company, improve the efficiency of production.

Rate, Henan Huaying agricultural development Limited by Share Ltd (hereinafter referred to as "company") intends to cancel the public.

Wholly owned subsidiary: Henan Hualong down Co., Ltd. (hereinafter referred to as "Hualong down")

The company will establish a new unified management of the down business department.

2. Consideration by the board of directors

In September 29, 2014, the sixth meeting of the Fifth Board of directors of the company was 9 votes in favour and 0 votes against it.

The vote on the 0 abstentions was considered and approved by the company on the cancellation of Hualong down company.

The case will be subject to the examination and approval authority of the board of directors.

It will deliberate.

3. The proposed cancellation will not constitute related pactions, nor will it constitute a major issue of listed companies.

Major asset reorganization as stipulated in the asset restructuring management measures.

Henan Hualong down Co., Ltd.:

Registration number: 411500400004963 (1-1)

Type: limited liability company (wholly owned by non natural person investment or holding company)

Residence: he Dian Industrial Zone, Huangchuan County, Xinyang City, Henan Province

Legal representative: Cao Jiafu

Registered capital: three thousand, three hundred thousand yuan round.

Date of establishment: 05, 26, 2004

Operating period: 05 months 26 2004 to 05 months 2024 25

Scope: Feather and down purchase, processing and sales, down products, bed.

Manufacture and sale of products, clothing, bedding and toys.

Approved items according to law

After approval by the relevant departments, business activities can be carried out.

Main financial data (unit: yuan)

Report date, total assets, net assets, operating income, operating profit, net profit

2013 55994324.17 52022579.84 1040658.04 -42619.61 -45489.49

(audited)

April 30, 2014 56050800.90 52101926.82 1325920.41 105795.98 79346.98

(audited)

June 30, 2014

56031384.70 51987041.03 1705860.36 -72075.70 -35538.81

(without consideration)

Three, the impact of cancellation of subsidiaries on the company

The company's cancellation of its subsidiaries is conducive to optimizing the allocation of resources and reducing the cost of management.

To improve management efficiency and control ability, after the cancellation of Hualong down company, the company consolidated financial statements.

The scope of the table will change accordingly, but will not have a substantial impact on the consolidated financial statements of the company.

Ring will not have a significant impact on the overall business development and profitability of the company.

Four, other matters

The Licensing companies management of the company's board of directors is responsible for handling the liquidation and cancellation of the above subsidiaries.

Close the job.

At the same time, the company will continue to fulfill its obligation of information disclosure in strict accordance with relevant regulations.

Five. Reference documents

1, Fifth Session of the sixth meeting of the board of directors resolution.

Notice hereby

Huaying agricultural development Limited by Share Ltd

Board of directors

Two September 29th 14