Huafu Fashion Co.Ltd(002042) : Announcement on investment and establishment of subsidiaries

Securities code: 002042 securities abbreviation: Huafu Fashion Co.Ltd(002042) Announcement No.: 2022-08 Huafu Fashion Co.Ltd(002042)

Announcement on investment and establishment of subsidiaries

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.

1、 Investment overview

1. Huafu Fashion Co.Ltd(002042) (hereinafter referred to as "the company") recently established Aksu Huafu new energy Co., Ltd. (hereinafter referred to as "Huafu new energy") with its own capital, with a registered capital of RMB 100 million.

2. The investment and establishment of a subsidiary does not constitute a connected transaction, nor does it constitute a major asset reorganization as stipulated in the administrative measures for major asset reorganization of listed companies. According to the Listing Rules of Shenzhen Stock Exchange and the articles of association, this matter does not need to be submitted to the board of directors or the general meeting of shareholders for deliberation.

2、 Basic information of investment object

1. Company name: Aksu Huafu new energy Co., Ltd

2. Registered capital: 100 million yuan

3. Enterprise type: limited liability company

4. Company domicile: Aksu textile industrial city, Aksu Prefecture, Xinjiang

5. Legal representative: Sun Weiting

6. Composition of shareholders: independently contributed by the company with its own funds

7. Business scope: general projects: Cecep Solar Energy Co.Ltd(000591) power generation technical services; Sales of photovoltaic equipment and components; Photovoltaic power generation equipment leasing (except for projects that must be approved according to law, carry out business activities independently according to law with business license): power generation business, power transmission business and power supply (distribution) business (for projects that must be approved according to law, business activities can be carried out only with the approval of relevant departments, and the specific business projects shall be subject to the approval documents or licenses of relevant departments)

3、 Purpose of investment and establishment of subsidiaries and its impact on the company

In order to actively respond to the relevant policy calls of national carbon peak and carbon neutralization, according to the company's sustainable development strategic plan and in combination with its own resource advantages and capabilities, Aksu Huafu new energy Co., Ltd. is specially invested to establish Aksu Huafu new energy Co., Ltd. to coordinate the energy development and management of the company's production bases, further reduce the power consumption cost and ensure the power reserve and supply. The company starts with distributed photovoltaic projects to realize clean energy consumption for production and office in the plant. On this basis, the company makes use of the lighting and location advantages of Xinjiang, and then plans to develop centralized photovoltaic projects, actively promote the construction of clean energy and create green economic benefits. This investment will help the company to integrate resources, reduce costs, increase benefits, and bring value to the future carbon emission competitiveness of the company and products.

4、 Risk tips

After the establishment of Huafu new energy, it may face risks in operation management and market environment changes in the future operation process. The company will continue to strengthen its corporate governance structure, optimize resource allocation and business strategy, and prevent and respond to relevant risks.

The establishment of Huafu new energy will not have an impact on the company's operating performance for the time being. If there is significant progress in relevant projects, the company will timely fulfill the obligation of information disclosure. Please pay attention to investment risks.

It is hereby announced.

Huafu Fashion Co.Ltd(002042) board of directors January 21, 2002

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