Gansu Silk Road Spring Wine Group Co., Ltd. state-owned property rights transfer announcement

Entrusted, our company will publicly transfer the overall property rights of Gansu Silk Road Spring Wine Group Co., Ltd. (including the right to use state-owned construction land). In accordance with the Law of the People's Republic of China on State-owned Assets of Enterprises, the Measures for the Supervision and Administration of Transactions in State-owned Assets of Enterprises and other relevant laws and regulations, the relevant matters are hereby announced as follows:

I. Overview of the Transfer Enterprise Gansu Silk Road Spring Wine Group Co., Ltd. is a state-owned enterprise belonging to Ganzhou District, Zhangye City, located at No. 39, Mamiao Street, Ganzhou District, Zhangye City. The enterprise was founded in 1980, and at the end of 1996, Gansu Silk Road Spring Wine Group Co., Ltd. was established. Business scope: liquor manufacturing, sales, wholesale and retail of food and non-staple foods, etc.

As of March 31, 2016, Gansu Silk Road Spring Wine Group Co., Ltd. had total assets of 483.6083 million yuan, total liabilities of 688.6313 million yuan, and owner's equity of -205.023 million yuan.

This property rights transfer activity, approved by the People's Government of Ganzhou District of Zhangye City, is now an overall public transfer of the state-owned property rights of Gansu Silk Road Spring Wine Group Co., Ltd.

For details and specific requirements of this property rights transfer, please refer to the property rights transfer documents.

2. The qualifications that the bidder shall have

1. The bidder shall be a legally existing corporate legal person with a good financial situation and the ability to purchase and transfer the bid. 2. The company's property rights are transferred as a whole, and the bidder shall bear all the creditor's rights and debts of the original company as a whole (including but not limited to the creditor's rights and liabilities and contingent liabilities disclosed in this announcement, audit report and asset appraisal report), and the bidder shall issue a letter of commitment to bear the debt resolution (including hidden debt) and the main debt resolution agreement during the registration period. 3. The bidder shall undertake in writing to give priority to the employment of employees voluntarily requested by the original company in accordance with the provisions of the Labor Law in accordance with the principle of giving priority to the employees of the original company. 4. Other conditions stipulated in national laws, administrative regulations and the Contract for the Transfer of State-owned Property Rights of Enterprises.

3. The period of announcement and the method of transfer shall be from the date of publication of the announcement to 18:00 on December 9, 2016. If two or more eligible prospective bidders are solicited during the announcement period, the buyer will be determined by auction. If there are less than two bidders, the transfer method is changed to a listed transfer. Interested bidders are requested to submit a bidding application, submit relevant materials, and pay a bidding deposit of RMB 98 million (subject to the bank arrival time) during the announcement period, and the deadline for arrival is 18:00 on December 9, 2016. Failure to submit a bidding application within the time limit, failure to pay the deposit, or failure to submit relevant materials as required shall be deemed to have abandoned the intention to bid or purchase. If the bid or purchase is successful, the margin is converted to the transaction price, and if the bid is unsuccessful, it is fully refunded without interest.

4. Other matters If there is any change in the transfer matters stipulated in the announcement of the transfer of property rights, a change announcement will be issued, and the announcement of the change shall prevail at that time. The details of the transfer shall be subject to the provisions of the Documents on the Transfer of State-owned Property Rights of Enterprises.

5. Transfer time and place Registration time: From the date of announcement to 18:00 on December 9, 2016, the application will no longer be accepted after the deadline. Site Survey Time: On the date of the announcement, interested bidders can conduct on-site surveys on their own and consult the relevant materials on the effective working day.

Consultation location: Room 1509, 14th Floor, Ganzhou District Government Office Building (Binhe New Area, Zhangye City)

Transfer location: Zhangye Public Resources Trading Center

Tel:[phone] 18219669170

0931-8106331 13679456719

Gansu Silk Road Spring Wine Group Co., Ltd. Enterprise Restructuring Leading Group

Gansu Chengxin Auction Co., Ltd

November 10, 2016