Jiaxin Silk (002404): Progress Of Share Repurchase Company

Zhejiang Jiaxin silk Limited by Share Ltd progress announcement on repurchase shares

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

The Zhejiang Jiaxing silk Limited by Share Ltd (hereinafter referred to as the "company") held the twenty-second meeting of the seventh board of directors and the thirteenth meeting of the seventh supervisory board in June 20, 2019, and deliberated and adopted the motion on repurchasing part of the social public stock by means of centralized bidding. The company intends to use its own funds to repurchase part of the public stock of the company in the form of centralized bidding for equity incentive or ESOP. The total amount of the repurchase fund is no less than (50 million yuan), not exceeding (100 million yuan), and the repurchase price does not exceed (RMB) 7.5 yuan / share. The period for the implementation of the share repurchase is within 12 months from the date when the board of directors deliberated and adopted the repurchase share scheme. Details of the announcement of the company's repurchase of part of the public stock option by means of centralized bidding in the "Securities Times", "China Securities Journal" and "www.cninfo.com.cn" disclosed in June 21, 2019 (Announcement No.:

2019-030). In July 1, 2019, the company disclosed the repo report (the announcement number: 2019 - 032) in the securities times, China Securities Journal and www.cninfo.com.cn.

1. Progress of share repurchase company

According to the relevant provisions of the regulations on the repurchase of public shares by listed companies (Trial Implementation), the supplementary provisions on the repurchase of shares by Listed Companies in centralized bidding, and the detailed rules for the implementation of the repurchase shares of listed companies on the Shenzhen stock exchange, the company shall announce the progress of the repurchase at the end of last month in the first 3 trading days of each month during the period of repurchase. The relevant circumstances are announced as follows:

As of April 30, 2020, the company had accumulated 8953904 shares of the repurchase company's shares through the centralized bidding transaction through the repurchase of special securities account, accounting for about 1.55% of the total share capital of the company. The highest transaction price was 5.86 yuan / share, and the lowest transaction price was 5.197 yuan / share. The total transaction amount was 50154594.9 yuan (excluding transaction costs). The repurchase accords with the requirements of relevant laws and regulations, and meets the established buyback plan.

Two, other instructions

1. the time of the company's repurchase shares, the number of repurchase shares and the entrustment period of the centralized bidding transactions are in line with the seventeenth, eighteen and nineteen phases of the detailed rules for the implementation of the repurchase shares of the listed companies of the Shenzhen stock exchange.

Customs regulations;

2. the company did not buy shares in the following period:

(1) within ten trading days prior to the announcement of the company's periodic reports, performance notices or performance bulletins.

(2) the date of occurrence of major events that may have a significant impact on the stock trading price of the company, or during the two days after the decision is made according to the law.

(3) other circumstances stipulated by the CSRC.

3. from the date of the company's implementation of the repurchase share plan, the maximum number of repurchase shares on every five trading days is 2698700 shares (from August 6, 2019 to August 12, 2019), which does not exceed 25% of the 26563400 shares of the company's total stock trading volume (five shares) on the five trading days before the date of the first buyback of the company.

4. the company has not commissioned the repurchase share at the following transaction time:

(1) open auction;

(2) half an hour before closing.

(3) there is no price limit for stock prices.

The price of a company's repurchase shares is lower than that of the company's trading day.

5. the company will continue to implement the buyback plan according to the market situation within the time limit of repurchase, and will promptly fulfill the obligation of information disclosure in accordance with the relevant laws, regulations and normative documents during the repurchase period, and invite investors to pay attention to investment risks.

Notice hereby.

Zhejiang Jiaxin silk Limited by Share Ltd board of directors

May 7, 2020