*ST Velvet ((000982): Restricted Consumption Orders And New Accounts Frozen.

Ningxia cashmere industry Limited by Share Ltd announcements of restrictions on consumption orders and freezing of new accounts

1. The situation and contents of the "restricted consumption order" received by the company.

In January 11, 2019, the Limited by Share Ltd of Ningxia Bank of China (hereinafter referred to as "the company") inquired from China's information disclosure network (http://zxgk.court.gov.cn/) that the Yangzhong people's Court issued the "restricted consumption order" on the Internet [(2018) Su 1182 Zhi 2847].

The contents are as follows:

"Limited by Share Ltd of Ningxia cashmere industry":

In December 11, 2018, our hospital filed for the execution of the case of Zhenjiang Changjiang Electric Power Equipment Co., Ltd. to apply for the execution of a dispute over the sale and purchase contract of your unit. Because your unit failed to fulfill the obligations stipulated in the effective legal documents during the period specified by the notice of execution, the hospital adopted restrictive consumption measures in accordance with the 255th articles of the People's Republic of China civil procedure law and the provisions of articles 1 and third of the Supreme People's Court on certain restrictions on the high consumption and related consumption of the executors, limiting your unit and your unit (the legal representative, the principal responsible person, the direct responsible person who affects the debt performance, the actual controller).

(1) when traveling by means of pport, we should choose two or more seats such as plane, train soft sleeper and steamer.

(two) high consumption in hotels, hotels, night clubs and golf courses at stars and above.

(three) purchase of real estate or new, extended, upscale decoration houses;

(four) lease offices in high-grade office buildings, guesthouses, apartments, etc.

(five) purchase of non operational essential vehicles;

(six) tourism and vacation;

(seven) children attend high tuition private schools;

(eight) paying high premium to purchase insurance and financial products;

(nine) take all the seats of G sedan EMU train, other EMU trains, first class seats and other other non life and work necessary consumption behavior.

If your unit (the legal representative, the principal person in charge, the person directly responsible for influencing the performance of the debt, the actual controller) acts on the personal property for personal consumption, it may apply to the court.

If your unit conducts the prohibited consumption activities for the sake of business operation, it shall apply to the court for approval before proceeding.

If violation of the restriction order is verified, the court will be fined and detained in accordance with the 111st provision of the Civil Procedure Law of the people's Republic of China. If the circumstances are serious enough to constitute a crime, the criminal responsibility shall be investigated according to law.

Two, the case of restriction of consumption order.

In September 11, 2018, the company disclosed the "2018-96 Ningxia cashmere industry Limited by Share Ltd's major litigation progress notice" in the designated information disclosure media. In December 7, 2018, it announced the "2018-115 Ningxia silver cashmere industry Limited by Share Ltd litigation progress notice".

The "restriction on consumption order" involves 3755271 yuan for the implementation of the target.

Three, the "restriction of consumption order" on the company's production and operation of the note

The restriction on consumption order will have some adverse effects on the production and operation of the company.

The company will pay close attention to the follow-up progress of this case and take positive measures to deal with this risk.

Four, the situation of new accounts being frozen.

In the case of a dispute between the company and the Zhenjiang Changjiang Electric Power Equipment Co., Ltd., the Zhenjiang intermediate people's Court of Jiangsu province has frozen the above-mentioned two bank accounts, which are the accounts of the Shenzhen branch of the company and the Beijing branch.

Five. Reference documents

The people's Court of Yangzhong restricted consumption order [(2018) Su 1182 Zhi 2847].

Notice hereby.

The board of Limited by Share Ltd of Ningxia BOC cashmere industry

Two January 15th 19