*St Carey (002072): Progress Of Related Party Transactions Of Subsidiaries (2)

Progress announcement of Kairui Holding Co., Ltd. on related party transactions of subsidiaries (II)

The company and all members of the board of directors guarantee that the contents of information disclosure are true, accurate and complete, and there are no false records, misleading statements or major omissions.

1、 Overview of related party transactions

On December 19, 2019, kairuide Holding Co., Ltd. (hereinafter referred to as "the company" or "kairuide") and Dezhou Jinmian Textile Co., Ltd., a wholly-owned subsidiary of the company, signed a contract with Mr. Zhang Peifeng. The contract was held at the 18th meeting of the 7th board of directors held on December 19, 2019 and the 3rd meeting of the company held on December 31, 2019 According to the contract, Mr. Zhang Peifeng should pay 249508699.00 yuan to the company. The company has made an announcement on the related information of the related party transactions. For details, please refer to the announcement on related party transactions (II) of subsidiaries (Announcement No.: 2019-l126) disclosed by the company on December 25, 2019, and the progress announcement on related party transactions (II) of subsidiaries disclosed by the company on March 26, 2020

2020-l016), supplementary announcement on the progress of subsidiary's related party transactions (II) (Announcement No.: 2020-l018) disclosed by the company on March 27, 2020, the progress announcement on related party transactions of subsidiaries (II) (Announcement No.: 2020-l025) disclosed by the company on April 18, 2020, and the related party transactions on recovering part of funds in advance disclosed by the company on June 19, 2020 Announcement on the progress of changes (Announcement No.: 2020-l052).

2、 Transaction progress

According to the contract, Mr. Zhang Peifeng should pay 27.72 million yuan in the third phase before September 15, 2020. Up to now, the company has received part of the third phase payment of 23.13 million yuan, the third phase payment, paid by Baocheng Dingsheng international trade (Beijing) Co., Ltd. (controlled by Mr. Wang Jian and Mr. Wang xuanzhe, holding 3% shares of the company) on behalf of Mr. Zhang Peifeng The company will actively urge the relevant parties to make up the difference as soon as possible.

3、 Risk tips

According to the above contract, Mr. Zhang Peifeng should pay 249508699.00 yuan to the company. Up to now, the company has received the first and second phase of the total funds and part of the third phase, a total of 78.57 million yuan. Mr. Zhang Peifeng shall pay the remaining amount of RMB 170938699.00 to the company in eight installments before March 15, 2022. The company will actively urge Mr. Zhang Peifeng to fulfill the follow-up repayment responsibility according to the agreement. As of July 8, 2020, the company's shares held by Mr. Zhang Peifeng, the transaction party of this related party transaction, have been legally enforced, and he is no longer a shareholder of the company. At the same time, Mr. Zhang Peifeng is currently

The company is still restricted in personal freedom, and high consumption is restricted because of the company's involvement in litigation cases, and it is listed as the person to be executed due to its own litigation cases. There are still significant uncertainties about whether the company can repay as scheduled in accordance with the contract and whether it has the ability to perform the contract. Investors should pay attention to the investment risks.

4、 Documents for reference

1. Relevant documents required by Shenzhen Stock Exchange

It is hereby announced

Board of directors of Kairui Holding Co., Ltd

September 17, 2020