"Last Silk King" To Create A New Kingdom Of Silk

"I almost became the last general manager of state-owned silk enterprises."

Cai Gaosheng, chairman of Guangdong silk group company, can now laugh and laugh at the embarrassment of that year.

As the first national capital plate reorganization of Guangdong Province, based on the Guangdong silk group, the Guangdong silk textile group, formed by the integrated textile holding company, will be listed in late mid 7, when the total capital of the restructuring silk textile group is about 6 billion 300 million yuan, which will be the largest reorganization of China's textile industry.

Prior to that, in June 2007, Guangdong Silk Group Co., Ltd. (hereinafter referred to as Guangdong silk) successfully reorganized Hunan silk company, and earlier February 1st, it was listed by Guangxi silk group holding 55% of Guangdong silk group.

At this point, the South China silk industry belt has taken shape, and the ambition of Guangdong silk group to build the largest kingdom of silk and textile industry is clear.

Old state-owned enterprises for new engines

In 2006, the total import and export value of Guangdong Silk Group Co., Ltd. (hereinafter referred to as Guangdong silk) was US $2 billion 330 million, becoming the largest silk export enterprise in China, and 84 of its 85 units were profitable.

And just 10 years ago, the time honored state owned enterprise was once in a precarious position, and 85 of its 85 units accounted for 84 yuan of losses, with a total profit of only $17 million 320 thousand.

Faced with the abolition of the franchise policy, and foreign capital competition, raw material prices, anti-dumping and other problems, the Guangdong provincial government almost eliminated Guangdong silk from the state-owned sector.

Silk is a national treasure, but China's silk industry is large and not strong. It is only the "raw material exporter" of the international silk market. At present, the exchange rate is only 1 / 2 of Korea, 1 / 4 of Japan, 1 / 13 of Italy, and lack of well-known brands.

In such a highly competitive field, as a state-owned enterprise, how can Guangdong silk be "withered" and create the "Silk kingdom" of South China?

At the end of June 2007, our reporter interviewed Cai Gaosheng on the "ten typical state-owned enterprises" report of the SASAC.

"I had the nerve to lobby the relevant government departments to say that Guangdong is the starting point of China's Maritime Silk Road. Silk state-owned enterprises have an irreplaceable role in promoting the economic development of Guangdong mountainous areas and poverty-stricken areas, solving the problems of agriculture, rural areas and farmers, and promoting farmers to get rid of poverty and become rich and solve the problem of labor force employment.

Guangdong silk is not a state-owned brand. "

Cai Gaosheng told the newspaper reporter that the hard work he had lobbied with other members of the group was not in vain. In 2000, the Guangdong provincial government decided to authorize the silk group to operate.

At this point, the Guangdong silk group began to eradication of the "fatal injury" of the state-owned enterprises, promoted the reorganization of assets and the reform of the property right system of the subordinate enterprises, and gradually reformed the 7 modes of reorganizing the main body, reforming the whole system, mortgage operation, reorganization and reorganization, bankruptcy and reorganization, building new lease, closing and bankruptcy, and formed the pattern of public ownership as the main body, state holding, shareholding and mixed ownership.

The state-owned shareholding ratio of the restructured subsidiary is generally between 35% and 60%, and the management team, backbone and staff share certain shares and realize the diversification of property rights.

"I really fear that I have participated in the 100 Canton Fair, and the 50 year old silk foreign trade state-owned enterprise has fallen into my hands, so at that time I broke the boat to carry out property rights reform, forced the management team to take money and share shares, and really tied up the management, staff and enterprise development, and invigorated the system.

Now, this is the right step. "

Cai Gaosheng told reporters.

7 years later, Guangdong's silk industry has changed greatly. 80 of the 85 enterprises under the group have been restructured and 94% of them have been reformed.

Take the Zhongshan silk import and export company as an example, in 1999, it exported about 43400000 US dollars and only about 1300000 yuan in net assets.

After the restructuring, it has been developing rapidly. In 2006, the import and export volume reached 500 million US dollars, and net assets increased to 45 million 220 thousand yuan, making a profit of 20 million 690 thousand yuan.

Restructuring China's silk industrial belt

An industry source told reporters, "Guangdong silk import and export trade and the Pearl River Delta textile industry strong processing capacity in the province in situ reorganization, now will extend to Guangxi, Hunan and other raw material hinterland, the intention to get through the industrial chain is obvious."

In June, the Guangdong silk group was granted a 50% stake in Hunan silk import and export company through the public pfer process. At the beginning of the year, Guangdong silk and Guangxi silk import and export company invested in the establishment of the new Guangxi Silk Group Co., Ltd., Guangdong silk held a controlling position, holding 55%.

In the province, Guangdong silk group launched the regional headquarters of Foshan Pearl River Delta and Maoming regional headquarters of western Guangdong, integrating the industrial resources scattered around the Pearl River Delta with the traditional industrial advantages of Foshan silk textile and clothing and the resources of western Guangdong.

"We hope that the Guangdong silk business model can be copied to the Hunan and Guangxi silk state enterprises to get through the upper reaches of the enterprise."

Cai Gaosheng told reporters.

Wu Jianguo, an assistant inspector of the Guangdong provincial SASAC, said in an interview that the restructuring of Guangdong silk series of state-owned enterprises is aimed at building the "carrier" of the state-owned enterprises in the silk industry in the next five years and enhancing the competitiveness of Guangdong's state-owned enterprises.

With this great reorganization, the silk and textile industry belt of South China is on the cards.

Reporters also learned that Guangdong silk may launch the listing plan through two ways.

First, the introduction of strategic investors, based on the current silk group of Guangdong silk listed, or by means of the Group subsidiary "Zhongshan silk" platform for financing.