On 16 October 2013, the application for non-public offering filed by Huafang Co., Ltd. (“Huafang”) was reviewed and approved by the Issuance Examination Committee of CSRC, and the latter will release the approval to the non-public issuance.

Huafang is a public company listed on the mainboard of Shanghai Stock Exchange. Its core business covers textile, dyeing and clothing manufacture. This non-public offering consists of two different issuances, namely, the issuance of a limited number of 100 million shares to its controlling shareholder as well as share issuance to certain investors in order to raise funds for the construction of production line.

Grandall Beijing Office has been retained as the issuer's counsel with Mr. LI Aoli, Ms. HE Yuan, Mr. YANG Lijin and Ms. HU Yue being key lawyers servicing the company.