Shanghai Metersbonwe Bang Wei Clothing Co., Ltd.

Prospectus for the first issue of short-term financing bonds in p>2119

The current issue amount is RMB 511 million

The issue period is 365 days

There is no guarantee

The credit rating agency Dagong International Credit Rating Co., Ltd.

Credit rating result subject: AA-; Debt: A-1

Issuer: Shanghai Metersbonwe Bang Wei Clothing Co., Ltd.

Lead underwriter and bookkeeper: China Merchants Bank Co., Ltd.

In November 2119

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The short-term financing bonds issued by the company have been registered with the China Association of Interbank Market Dealers.

Registration does not mean that the Association of Dealers has made any evaluation on the investment value of the short-term financing bonds. Investors who purchase the company's short-term financing bonds in this period shall carefully read this prospectus and the relevant information disclosure documents, make an independent analysis of the authenticity, accuracy and completeness of the information disclosure, and independently judge the investment value based on it, and bear any investment risks related to it.

the board of directors of the company has approved this prospectus, and all directors promise that there are no false

records, misleading statements or major omissions, and bear

individual and joint legal responsibilities for its authenticity, accuracy and completeness.

the person in charge of the company, the person in charge of accounting work and the person in charge of the accounting institution guarantee that the financial information described in the prospectus of this offering is true, accurate and complete.

whoever obtains and holds the short-term financing bonds issued by the company through legal means such as subscription and assignment

shall be deemed to have voluntarily accepted the rights and obligations stipulated in this prospectus.

the company promises to fulfill its obligations in accordance with the provisions of laws and regulations and the agreement in this prospectus, and

accepts the supervision of investors.

It is important to mention

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Table of Contents

Chapter 1 Interpretation of ........................................................................................................... 5

Chapter 2 Risk Warning and Statement. Ming ........................................................................................... 9

a, Investment risk related to this short-term financing bill ................................................................ 9

2, Risks related to the company ............................................................................................ 9

Chapter III Terms of Issue ....................................... .............................................................. 15

1, Main terms of issue .................................................................................................. 15

II, Bookkeeping filing arrangement .................................................................................................. 16

3, Distribution arrangement .......................................................................................................... 16

IV, Payment and settlement arrangements .............................................................................................. 17

V, Registration hosting arrangement .................................................................................................. 17

VI, Listing and Circulation Arrangement .................................................................................................. 18

Chapter IV Use of Raised Funds ................................ ............................................................. 19

1, The main purpose of the raised funds is .......................................................................................... 19

II, Company commitment .......................................................................................................... 19

Chapter 5 Basic information of the company. .......................... ................................................................... 21

1, Company profile .................................................................................................. 21

2, Company history and changes in share capital ...................................................................... 21

3, Ownership structure and the basic situation of the controlling shareholder .................................................................. 25

4, ...................................................... 31

5, the company's internal organization setting and important rights and interests investment, The company's internal control system ...................................................................................... 36

VI. Directors of the company, Basic information of supervisors and senior management personnel .............................................. 38

VII, Employee situation .......................................................................................................... 41

Eight, Company's business scope and main business .................................................................. 41

9, Company's industry status .......................................................................................... 55

11, The position and competitive advantage of the company in the industry .............................................................. 59

Chapter VI Main financial conditions of the company. ......................................................... ............................ 71

I. Main accounting data of the company in the last three years and the latest issue .................................................. 71

II, Analysis of financial status of consolidated statements .................................................................................. 77

III, Company's interest-bearing debts .......................................................................................... 88

IV, Contingency .......................................................................................................... 91

5, Company related party transactions .......................................................................................... 91

6, Non-adjustment matters and other matters in matters after the balance sheet date .......................................... 92

VII. Asset mortgage and assets with designated purposes .......................................................... 92

VIII, Financial derivatives, commodity futures, Wealth management products and overseas investment in .......................... 93

Chapter VII Company's credit standing ......................................................................................... 94

I, Summary of the rating report of the company's main body .......................................................................... 94

2, Summary of the rating report of this short-term financing bonds .............................................................. 95

III, Tracking rating related arrangements .......................................................................................... 95

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4, Other credit information of the company .......................................................................................... 96

Chapter VIII Guarantee .......................................... ................................................................... 98

Chapter IX Taxes ......................................................................... .................................... 99

1, Business tax .............................................................................................................. 99

2, income tax ..........................................................................................