Search At The Eighteenth Meeting Of Limited By Share Ltd'S Second Board Of Directors

Dongguan City

Announcement of the eighteenth meeting of the second board of directors

All members of the company and the board of Directors ensure that the contents of the announcement are true, accurate and complete, and assume responsibility for false statements, misleading statements or major omissions in the announcement.

The Dongguan search clothing Limited by Share Ltd (hereinafter referred to as "the company") held the eighteenth meeting of the second board of directors of the company in June 22, 2012 in the company conference room. The notice of the meeting was issued to all directors in writing in June 12, 2012.

The conference was convened and decided on the spot.

The meeting was made by the chairman of the company.

Mr. Ma Hong was convened and presided over. The meeting should be attended by 7 directors and 7 people. Directors, including Mr. Ma Hong, Ma Shaoxian, Wu Jun, Liao Gangyan, independent director Liu Yueping, Ma Zhuotan and Wang Hongyuan, attended the on-site meeting. Some of the supervisors and executives of the company attended the meeting.

The convening and convening of this conference and the number of directors participating in the voting are in conformity with the provisions of the company law of the People's Republic of China and the articles of association.

The deliberations of the participating directors were voted by way of voting.

1. 7 directors agreed, 0 directors objected, 0 directors abstained, and deliberated and passed the motion to amend the rules of work of the Secretary of the board of directors of Limited by Share Ltd in Dongguan.

Revised rules for the work of the Secretary of the board of directors of Limited by Share Ltd in Dongguan

Two, 7 directors agreed, 0 directors objected, 0 directors abstained, deliberated and passed the "Dongguan search special clothing Limited by Share Ltd" about the establishment of a wholly owned subsidiary in Guangzhou.

In order to implement the fund-raising investment projects, the company intends to set up a wholly-owned subsidiary in Guangzhou, as a direct selling shop of the company to sell "front line" brand clothing.

The name of the new subsidiary is tentatively designated as Guangzhou City special Clothing Co., Ltd. its registered capital is RMB 3 million yuan, and its mode of investment is currency. Its business scope is: Sales: clothing and accessories, leather products,

Scarves, caps, bags, daily necessities.

The name and scope of operation of the newly established subsidiary shall be subject to the final approval of the company registration authority.

Three, 7 directors agreed, 0 directors objected, 0 directors abstained, and deliberated and passed the motion of Dongguan search special clothing Limited by Share Ltd on the use of raised capital interest and excess excess fund to supplement liquidity.

The company agreed to use the interest raised from the raised capital of 29433810.59 yuan and the remaining excess capital raised by 109221656.75 yuan to supplement the company's working capital for the purchase of raw materials, payment of processing fees, wages and advertising expenses.

Independent opinion of independent directors and sponsors on the issue: search for special: independent directors' independent opinions on the use of raised capital interest and excess excess fund to supplement working capital, and Huatai joint: search for the verification opinion of the company using the interest of the raised capital and the excess excess fund to supplement the working capital.

Four, 7 directors agreed, 0 directors objected, 0 directors abstained, and deliberated and passed the "Dongguan search clothing Limited by Share Ltd's motion on applying for bank credit limits".

The board of directors shall designate the authorized agent of the legal representative or legal representative of the Licensing companies. In accordance with the needs of the development of the company's business, he shall apply to the China Minsheng Banking Corp Shenzhen branch in 2012 for the total credit amount of not more than 250 million yuan, and to apply to the Bank of Dongguan branch of Xingye Bank (601166, stock bar) for the total amount of not more than 150 million yuan. The total credit amount shall not be more than 150 million yuan. The total amount of the application shall not be more than 40 million yuan, and the total amount shall not exceed 40 million yuan. The company shall go through the relevant procedures and sign relevant laws and documents on behalf of the company.

This is hereby announced.

Board of directors of Dongguan search special clothing Limited by Share Ltd

June 25, 2012