In 2016, Texhong invested in the development of a cotton spinning plant in northern XUAR to be closer to the main cotton-growing region. The factory in XUAR was called Xinjiang Tianmian Foundation Co., Ltd. (“ Tianmian Factory”, named Xinjiang Texhong Foundation Co., Ltd. before August, 2020). As concern increased during 2020-21 over cotton products from XUAR, Texhong decided to sell its Tianmian factory. Texhong signed a contract to sell the Tianmian factory on September 27, 2021, to an unaffiliated company. The sale closed on November 5, 2021. Texhong no longer has any production in XUAR.
Please see more detailed information and the related documents about the transation below.
Here's a link to the Hong Kong Exchange filing:
https://www1.hkexnews.hk/search/titlesearch.xhtml?lang=EN&market=SEHK&stockId=8327&category=0
