Weiqiao Textile Co., Ltd. (“Weiqiao Textile” or the “Company”; together with its subsidiaries collectively referred to as the “Group”) is mainly engaged in the production, sale and distribution of cotton yarn, rough cloth and denim, and is the largest cotton textile producer in China. Weiqiao Textile is currently the cotton textile enterprise with the largest textile capacity in the world. It is one of the top 500 Chinese enterprises and 26 very large enterprises in Shandong Province. Over the past ten years, we have seized the opportunity of China's rapid economic growth, established a huge production scale, combined with advanced technology and equipment, and laid a solid foundation for the global cotton textile market. Weiqiao Textile is located in Shandong Province, the third largest cotton producing province in China. The production scale is huge. There are four production bases, namely Weiqiao Production Base (Second and Third Production Areas), Binzhou Production Base (Binzhou Industrial Park First Production Zone and Second Production Area), Weihai Production Base (Weihai Weiqiao Textile Co., Ltd. and Weihai Weiqiao Technology Industrial Park Co., Ltd. “Weiwei Industrial Park”) and Zouping Production Base (Zouping First Industrial Park, Zouping Second Industrial Park, and Zouping Third Industrial Park). As of December 31, 2014, it employed approximately 74,000 people. The production area works in shifts 24 hours a day. In 2014, the Group produced about 394,000 tons of cotton yarn, 978,000,000 meters of raw cloth and 76,000,000 meters of denim. The strong economic scale puts Weiqiao Textile in an advantageous position. Furthermore, as a comprehensive cotton textile manufacturer, the Group manufactures raw cloth and denim from cotton yarn produced by itself. The Group has a complete range of products, with more than 2,000 types, all sold overseas and domestically under the famous “Wei Qiao” trademark. The Group's customers include market leaders in the textile industry such as ITOCHU, Fukuda Industrial Group, and Tokunaga Kei Group. As for the domestic market, many of the Group's domestic customers are companies located in South China and East China, where there are many large textile and garment companies. Urbanization and income doubling targets will drive demand for textiles and clothing in China for a long time. At the same time, consumer demand is shifting to the middle and upper end. While actively developing markets and reducing inventories, Weiqiao Textile will also optimize operating processes through technological transformation and innovation to further reduce the employment level of 10,000 ingots and improve operational efficiency. The Group will adhere to the strategy of developing high-end products and opening up emerging markets, use industry integration opportunities to expand market share, and continue to maintain the Group's leading position in the global cotton textile industry.
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