Jiangnan Red Arrow: Announcement of idle raised funds to purchase wealth management products

The company and all members of the board of directors guarantee the truthfulness, accuracy and completeness of the contents of the announcement, and there are no false records, misleading statements or major omissions.

Hunan Jiangnan Hongjian Co., Ltd. (hereinafter referred to as “Company” or “Jiangnan Red Arrow”) held the 20th meeting of the 8th Board of Directors and the 18th meeting of the 8th Board of Supervisors on January 16, 2014. "Proposal on the use of part of the idle raised funds to invest in bank wealth management products by the wholly-owned subsidiary Zhongnan Diamond Co., Ltd.", agreeing that the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. (hereinafter referred to as "Zhongnan Diamond") will use no more than RMB 600,000. Raise funds to invest in bank-guaranteed wealth management products in a timely manner, and funds can be used for rolling within this amount.

I. Relevant information on purchasing bank wealth management products

On March 4, 2015, Zhongnan Diamonds used the temporarily idle raised funds of RMB 50 million to purchase CITIC Financial's letter win series (for the public) from CITIC Bank Co., Ltd. Nanyang Branch (hereinafter referred to as “CITIC Bank Nanyang Branch”). 15031 RMB wealth management products, the period is 91 days (from March 6, 2015 to June 5, 2015), the type is guaranteed floating income category, closed type, the estimated maximum annualized income is 4.40%; use temporarily idle Raise funds of 50 million yuan to purchase CITIC Financial's letter win series (for the public) Tiantian Express No. 2 RMB wealth management products, the estimated annualized rate of return is 3.2%, the type is guaranteed floating income, open type, the product has no nominal duration . The above matters do not constitute connected transactions.

Second, risk control measures

Based on the principle of safeguarding the interests of all shareholders and the company, the company puts risk prevention in the first place and strictly controls and carefully decides on the purchased bank wealth management products. During the bank's wealth management products, Zhongnan Diamond will analyze and track the operation of wealth management funds in a timely manner, maintain close contact with CITIC Bank Nanyang Branch, strengthen risk control and supervision, and strictly control the safety of funds.

Third, the impact on the company

1. The use of some of the temporarily idle funds raised by Zhongnan Diamonds to purchase wealth management products is carried out on the premise of ensuring the funds required for the company to raise funds for investment projects and ensuring the safety of the raised funds. It does not affect the daily capital turnover of the company and does not affect the raised funds. The construction of investment projects does not affect the company's main business operations.

2. Zhongnan Diamonds use temporarily raised funds to purchase bank wealth management products, which is conducive to improving the efficiency of the use of raised funds and obtaining certain investment income, in line with the interests of the company and all shareholders.

4. The use of idle raised funds to purchase bank wealth management products within 12 months before the announcement date

On April 2, 2014, Zhongnan Diamond purchased a guaranteed income product “2014 Structured Deposit System” from the Nanyang Branch of Everbright Bank Co., Ltd. (hereinafter referred to as “China Everbright Bank Nanyang Branch”) using a temporarily idle raised fund of RMB 30 million. Issued the 22nd issue of the product 3", the term of 3 months, the annual rate of return of 4.16%; on April 3, 2014, the use of temporarily idle raised funds of 140 million yuan, to the Bank of China Limited Nanyang Branch (hereinafter referred to as " Bank of China Nanyang Branch" purchased the guaranteed income product "RMB on schedule" with a maturity of 21 days and an annual yield of 3.80%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on April 9, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-15).

On April 25, 2014, Zhongnan Diamonds used the temporarily idle raised funds of RMB 110 million to purchase guaranteed-yield products “Opening the Renminbi on schedule” to the Bank of China Nanyang Branch for a period of 94 days with an annual yield of 4.50%; April 28, 2014 , using the temporarily idle raised funds of 30 million yuan, to purchase the capital-saving floating income-type wealth management products of CITIC Bank Nanyang Branch, “CITIC Trust's letter win series (to the public) 14128 RMB wealth management products”, with a maturity of 91 days and an annual yield of 4.80%. . For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on April 29, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-26).

On May 14, 2014, Zhongnan Diamonds used the temporarily idle raised funds of RMB 150 million to purchase CITIC Financial's Xinying Series (for the public) 14131 RMB wealth management products from CITIC Bank Nanyang Branch. The product type is guaranteed floating income. Type, the period is 96 days (from May 16, 2014 to August 20, 2014), the annualized rate of return is 4.50%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on May 15, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-31).

On May 16, 2014, Zhongnan Diamond purchased RMB 保 yuan-guaranteed RMB wealth management products from the China Construction Bank Corporation Nanyang Branch (hereinafter referred to as “China Construction Bank Nanyang Branch”) using a temporarily idle raised fund of RMB 50 million. "116", the product type is guaranteed floating income, the period is 34 days (from May 16, 2014 to June 19, 2014), the annualized rate of return is 4.00%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on May 20, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-32).

On July 31, 2014, Zhongnan Diamonds used the temporarily idle raised funds of RMB 110 million to purchase the RMB “on-time” products purchased from the Bank of China Nanyang Branch. The product type is guaranteed to be profitable with a maturity of 152 days (since August 2014). From 1st to 31st December 2014), the annual interest rate is 4.20%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on May 20, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-guaranteed Wealth Management Products (2014-44).

On August 21, 2014, Zhongnan Diamond used the temporarily idle raised funds of RMB 120 million to purchase CITIC Financial's Xinying Series (for the public) 14163 RMB wealth management products from CITIC Bank Nanyang Branch. The product type is guaranteed floating income. Type, the period is 91 days (from August 22, 2014 to November 21, 2014), the annualized rate of return is 4.50%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on August 22, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-guaranteed Wealth Management Products (2014-50).

On October 8, 2014, Zhongnan Diamonds purchased a RMB “on-time” product from the CCB Nanyang Branch for a period of 84 days (from October 8, 2014 to December 30, 2014) using a temporarily idle raised fund of RMB 70 million. (Daily), it is estimated that the annualized income will be 4.3%; use the temporarily idle raised funds of 60 million yuan to purchase the “2014 Sixty-third Product for Public Structured Deposits 2” from the Nanyang Branch of China Everbright Bank, the product type is structure. The deposit period is one month (from October 8, 2014 to November 8, 2014), and the annualized rate of return is 3.523%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on October 9, 2014 on the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-53).

On October 21, 2014, Zhongnan Diamond purchased a RMB “on-time” product from the Bank of China Nanyang Branch for a period of 69 days (from October 22, 2014 to December 30, 2014) using a temporarily idle raised fund of RMB 40 million. Day), the annualized income is 4.2%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on October 23, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-54).

On November 26, 2014, Zhongnan Diamonds used the temporarily idle raised funds of RMB 120 million to purchase CITIC Financial’s Xinsheng Branch’s 14195 RMB wealth management products from CITIC Bank Nanyang Branch for a period of 91 days. It is 4.40%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on November 28, 2014, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2014-60).

On February 6, 2015, Zhongnan Diamond purchased a RMB “on-time” product from the Bank of China Nanyang Branch for a period of 91 days (from February 9, 2015 to May 11, 2015) using a temporarily idle raised fund of RMB 120 million. (Day), the annualized rate of return is expected to be 4.75%; use the temporarily idle raised funds of RMB 100 million to purchase RMB “on-time” products from the Bank of China Nanyang Branch for a period of 29 days (from February 9, 2015 to March 2015). On the 10th), the annualized rate of return is expected to be 4.4%. For details, please refer to the "China Securities Journal", "Securities Times" and Juchao Information Network () published on February 10, 2015, regarding the use of the wholly-owned subsidiary Zhongnan Diamond Co., Ltd. Announcement on the Progress of Partially Raised Funds to Purchase Bank-Protected Financial Products (2015-8).

V. Opinions of Independent Directors, Board of Supervisors and Independent Financial Advisers on the purchase of bank wealth management products by the use of funds raised temporarily by Zhongnan Diamonds

For the opinions of the independent directors, the board of supervisors and the independent financial adviser, please refer to the “China Securities Journal”, “Securities Times” and the Shenzhen Stock Exchange website () on January 18, 2014 and January 20, 2014. Supplementary Announcement on the Use of Partially Raised Funds to Invest in Banking Wealth Management Products by Zhongnan Diamond Co., Ltd., a wholly-owned subsidiary, on szse.cn) (Announcement No. 2014-6).

Special announcement.

Hunan Jiangnan Red Arrow Co., Ltd. Board of Directors

March 5, 2015

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