Taizhou Sewing Machine Industry "Earthquake"

"2008 will be the year for sewing machine industry to shuffle.

Two or three years later, it is impossible for everyone to pick up a screwdriver to make a sewing machine.

Unlike in previous years, the era of "everyone making money" has passed.

In the spring of 2008, fate pushed the two 46 year old sewing machines in Taizhou, Zhejiang, to the center of the storm.

In April 22nd, ZOJE (002021.SZ) announced that, because the company's largest shareholder ZOJE Holdings Group Limited illegally occupied funds, ZOJE shares may be implemented to withdraw risks.

A week later, a quarterly report released in 2007 with the annual report of ZOJE shares showed that the revenue of the current company fell by more than 30% over the same period last year, and the profit dropped by nearly 80% compared with the same period last year.

This spring has also made Taizhou's sewing machine industry banner, Qiu Jibao, the head of the leap Group.

Data from Taizhou Customs show that in the 1-4 months of this year, the export value of the leap Group was US $18 million 480 thousand, down 44% from 33 million US dollars in the same period last year.

Many enterprises in the industry do not have a good time.

Not long ago, Tianjin's flying horse company came to ZOJE to talk about its business status. The former revealed that it was almost the same as ZOJE.

As a matter of fact, for most enterprises, it is just the ups and downs with the changes of the industry, far from becoming an enterprise that surpasses the cycle to become the Pearl on the crown.

Rise

Back in 1994, Cai Kaijian, 32, founded ZOJE sewing machine Co., Ltd. in Zhejiang. Before that, Cai Kaijian had entered the sewing machine industry for two years. Two years ago, ZOJE was formerly called Yuhuan Zhongda Industrial sewing machine factory.

At that time, Cai Kaijian spent 100 thousand yuan from the Shenyang Institute of light industry, which had worked together for many years, bought the patent of the packaging machine. Cai Kaijian's "flying wind" brand became the designated product recommended by the Ministry of light industry at that time.

When ZOJE was born, Qiu Jibao, a shoe maker in Yuhuan, has built up his flying sewing machine group in Jiaojiang, a hundred miles away.

In fact, the local sewing machine industry has begun to take shape at this time.

As early as Qiu Jibao in Northeast shoes shoal in 1979, Jiaojiang, Taizhou Chen Chen Guan Kangren and several other young people in Shanghai found that the edge machine is very tight, so borrowed money to buy a hemming machine, after disassembly and research, Jiaojiang first industrial sewing machine factory produced the first three line hemming machine and has been a great success in the market.

The power of example is endless. Then the sewing machine industry takes root.

The birth of Qiu Jibao's second industrial sewing machine factory has gone through 7 years.

In fact, at this stage, because the cost of production at various stages of China's reform is far lower than that of foreign countries, the industrial pfer of sewing machine industry has quietly started.

When Qiu Jibao put his eyes on the sewing machine, foreign sewing machine manufacturers began to invest in China, and Japan's Pegasus sewing machine manufacturing Co., Ltd. set up Tianma sewing machine manufacturing Co., Ltd. in Tianjin jointly with Tiangong sewing machine company.

After that, some well-known international sewing machine manufacturers have invested in China, including Shanghai heavy machinery, SINGER, Qixiang, heavy machinery emerging, Fuma, nine dimensional, Hebei industrial sewing, 100 Fu, Jaeger Le Coulter, and so on.

The low cost advantage makes China's sewing machine industry expand its vast market space.

For the sewing machine industry, a greater benefit is also encouraged by national policies.

In February 18, 1994, the state promulgated the regulations on the administration of tax refund (Exemption) for export goods, and established a tax refund (Exemption) system based on the new value-added tax and consumption tax system. The zero tariff rate of export goods was determined, and tax rebates for export enterprises from production to circulation and purchase were stipulated.

It is also in this year that China ended the two-stage exchange rate coexistence of official exchange rate and adjusted exchange rate for 14 years, which was unofficially linked to the US dollar, and the exchange rate was finally determined from the initial 1:2.80 yuan to fluctuate in the range of 1 US dollars to 8.27 to 8.28 yuan.

During this period, the state once encouraged all kinds of foreign trade.

In 1996, China announced the soft landing of the economy and the end of macroeconomic regulation.

Money has also eased, lending interest rates have fallen by 20% from its peak in 1995.

The implementation of these policies has greatly improved the development environment of China's sewing machine industry. Sewing machines have been rising rapidly from the negligible proportion of global production.

Sewing machine industry has gone through "golden 10 years" since 1994.

Transition

2004 is a hot year for sewing machines in Taizhou.

In this year, ZOJE's ZOJE shares successfully landed on the SME board and became the first local sewing machine company to be listed.

After the listing, ZOJE shares changed nearly 70% of the debt ratio, but also increased the financing capacity.

Qiu Jibao was also elected the first year of the Zhejiang businessmen, and he also won the title of "China's reform figures in the new century".

In fact, during the "fifteen" period, according to the statistics of sewing machinery industry association, the industry achieved an annual average growth rate of 26% output value and a 25% growth rate of earning foreign exchange.

In 2004, it was just in the middle of a long boom.

The greater good is that in January 1, 2005, the problem of textile and clothing quotas went to China for many years (at least a lot of people thought so) at that time. China's exports of these two categories of commodities will increase sharply.

Correspondingly, the original qualification for import and export business has also been changed from the examination and approval system to the registration and approval system.

Many enterprises are preparing for this, and the sewing machine industry is also one of the beneficiaries of this trend.

The two Cai Kaijian and Qiu Jibao appear frequently in the public view.

However, behind the flashbacks, the future space of the industry is obviously less optimistic than the surface.

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