Hubei Dongfang Jinyu Co., Ltd. (formerly known as Hubei Duojia Co., Ltd., renamed as Hubei Dongfang Jinyu Co., Ltd. in August 2006, hereinafter referred to as the "Company") is a limited liability company established by means of targeted fundraising with Ezhou Garment General Factory as the main sponsor and approved by Hubei Provincial Commission of Restructuring and Reform in April 1993.
In May 1997, with the approval of ZJFZ [1997] No. 249 and 250 documents of the China Securities Regulatory Commission, the company publicly issued 30 million ordinary shares (A) in RMB. After the issuance, the total share capital of the company was 115.9599 million shares. In June 1999, with the approval of the Hubei Provincial Commission for Restructuring the Economic System (Hubei Provincial Commission for Restructuring the Economic System) ETS [1999] No. 65 document, 34.79 million bonus shares were given to all shareholders at a ratio of 10:3, and 57.98 million shares were increased at a ratio of 10:5. In March 2000, with the approval of ZJGSZ [2000] No. 9 document of the China Securities Regulatory Commission, the company took the total capital stock of 115959900 shares as the base number, allocated 3 shares for every 10 shares, increased the capital stock by 114482 shares in total, and changed the total capital stock to 220176000 shares. In April 2001, the company took the total capital stock of 220.176 million shares at the end of 2000 as the base number, and gave all shareholders one bonus share for every 10 shares. The capital reserve was converted into 5 shares for every 10 shares. The total capital stock was changed to 352.282 million shares.
Before October 2001, the company's main business was the manufacturing and sales of textiles and clothing. In October 2001, according to the asset replacement agreement signed with Xi'an Kaiyuan Science and Education Holding Co., Ltd. and Xi'an Dongxing Real Estate Co., Ltd., the company's equity and part of its fixed assets and receivables under six clothing subsidiaries replaced the equity of three education companies owned by Xi'an Kaiyuan Science and Education Holding Co., Ltd. and Xi'an Dongxing Real Estate Co., Ltd. So far, the company's main business has been replaced by: smart selection and management of various education industries, logistics property management of schools (including rental of houses, etc.), development and operation of education software, construction of education network, development and transformation of network technology, development and sales of computer hardware, etc. In April 2004, according to the asset replacement agreement signed with Xi'an Yiguo Smart Choice Holding Co., Ltd. (renamed as Yunnan Xinglong Industrial Co., Ltd. in June 2005), the company took part of the receivables, part of the fixed assets and 80% of the equity of Wuhan Optics Valley City Smart Choice Co., Ltd, Replace the 94% equity of Yunnan Xinglong Jewelry Co., Ltd. held by Xi'an Yiguo Wisdom Choice Holdings Co., Ltd., and the company's main business turned to jewelry industry.
In December 2005, according to the asset replacement agreement signed with Xinglong Industry, the company replaced the equity of three education companies with 48.5% of the equity of Shenzhen Dongfang Jinyu Jewelry Industry Co., Ltd. held by Xinglong Industry; In May 2007, according to the asset replacement agreement signed with Xinglong Industry, the company replaced the 25.5% equity of Shenzhen Dongfang Jinyu Jewelry Industry Co., Ltd. held by Xinglong Industry with the related liabilities and assets of its multi variety chemical fiber weaving and dyeing project, except for land and construction in progress, and some other receivables of the company. So far, the company holds 74% equity of Shenzhen Dongfang Jinyu Jewelry Industry Co., Ltd.
