Zhejiang Busen Garments Co.Ltd(002569) : Announcement on the actual controller and directors receiving the notice of administrative punishment opinions

Securities code: Zhejiang Busen Garments Co.Ltd(002569) securities abbreviation: St BUSEN Announcement No.: 2022015

Zhejiang Busen Garments Co.Ltd(002569)

Announcement on the actual controller and director receiving the notification of administrative punishment opinions

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.

Zhejiang Busen Garments Co.Ltd(002569) (hereinafter referred to as “the company”, “the company”, “listed company” or “BUSEN shares”) recently conducted self-examination through stock bar and other channels and verified with the parties concerned. It was found that the actual controller Wang Chunjiang and director Zhao Yuhua were subject to administrative punishment by Guangdong Branch of the people’s Bank of China. The contents of administrative punishment are as follows:

1、 Penalty related information

(I) punishment related information of actual controller Wang Chunjiang

According to the notice on administrative punishment issued by Guangdong Branch of the people’s Bank of China on March 25, 2022, Wang Chunjiang, the actual controller of the company (then the director and general manager of Guangdong Xinhui e-commerce Co., Ltd.), is directly responsible for the following illegal acts of Guangdong Xinhui e-commerce Co., Ltd.:

1. Failure to maintain the traceability of transaction information and consistency in the whole payment process, with serious circumstances;

2. Submit the qualification examination of special merchants to the outsourcing service organization, and the circumstances are serious.

The Guangdong Branch of the people’s Bank of China shall give a warning and impose an administrative penalty of 1 million yuan. (II) punishment information of director Zhao Yuhua

According to the notice on administrative punishment issued by Guangdong Branch of the people’s Bank of China on March 25, 2022, Zhao Yuhua, the director of the company (then the director of Guangdong Xinhui e-commerce Co., Ltd.) is directly responsible for the following illegal acts of Guangdong Xinhui e-commerce Co., Ltd.:

1. Failure to maintain the traceability of transaction information and consistency in the whole payment process, with serious circumstances;

2. Submit the qualification examination of special merchants to the outsourcing service organization, and the circumstances are serious.

The Guangdong Branch of the people’s Bank of China shall give a warning and impose an administrative penalty of 1 million yuan. 2、 Impact on the company and risk tips

1. This administrative punishment is the punishment imposed by Guangdong Branch of the people’s Bank of China on the actual controller and individual directors, which has no actual direct relationship with the company’s business. As of the disclosure date of this announcement, the production and operation of the company has not changed significantly.

2. The information disclosure media designated by the company are securities times, Securities Daily, China Securities News and cninfo. Com. The relevant information of the company shall be subject to the announcement published in the above designated information disclosure media. Please pay attention to the risks.

It is hereby announced.

Zhejiang Busen Garments Co.Ltd(002569) board of directors April 15, 2022

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