Redevelopment Of Sewing Machine Industry
"ZOJE announced the announcement to participate in the asset restructuring of the leap Group", "Shang Gong Shen Bei overseas company intends to buy part of the assets of the German Fortune 100", "Shenzhen big family laser and Dongguan Yue Ming laser reorganized, set up the Dongguan family's Guangdong Ming Laser Technology Co., Ltd.", "ZOJE, new Jack, leap and other 7 Taizhou enterprises to inject capital to establish Zhejiang new leap Limited by Share Ltd". Since September 2008, there have been numerous heavy news reports about the reorganization of enterprises in the industry. For a while, the case of corporate restructuring has become the focus of attention. A kind of
If we add the "rumours" of mergers and acquisitions, which are currently being explored by many enterprises in the industry, "restructuring" seems to be the hottest word in the sewing machinery industry in China, and a strong "reorganization wind" has already sprang up in the industry.
Corporate restructuring -- Industry adjustment Objective needs
As we all know, since the second half of 2007, with the adjustment of China's textile and clothing industry structure, the domestic and foreign environment and the internal and external factors affecting the export tax rebate tax rate, the increase of raw material price and the increase of production cost, China's sewing machine industry has entered the third period of production adjustment, and the disadvantages of blind expansion and structural imbalance have become increasingly apparent for many years, which have led to the difficulties of many sewing machine enterprises, which also created external conditions for enterprise restructuring.
In addition to technical innovation and hard work, the restructuring of capital expansion through merger and acquisition has become the ability to resist risk and get rid of the risk. Management dilemma One of the shortcuts. " Chen Hongmei, director of the brand center of gemstone sewing machine group, said.
On the four Executive Council of the eight session of the Sino Russian sewing Association held recently, Xiao Qing, chairman of Tongyu sewing machine Limited by Share Ltd, also said that in view of the current development of the industry, Tongyu group is willing to take part in the reorganization action between industry and enterprises.
For enterprises, reorganization is to re adjust and recombine all kinds of essential resources owned by enterprises, so as to improve the operation efficiency of enterprises themselves, and realize the optimal combination of social resources among different enterprises so as to improve the overall efficiency of the economy. Mergers, acquisitions, listing and expansion, and joint venture capital expansion are the main ways of corporate restructuring. The two cases of ZOJE, new Jack, leap 7 capital injection, Zhejiang new leap Limited by Share Ltd, Shenzhen big family and Dongguan Yue Ming reorganization and set up the big family Yue Ming laser science and Technology Co., Ltd. are two typical cases of enterprise reorganization.
"A very important aspect of capital operation is the present. Stock capital In order to revitalize the enterprise, enterprises should regularly integrate and divestiture the existing assets, and accumulate capital into the most competitive industries, and reorganization can effectively accomplish this. China's sewing machine industry in the adjustment period is the best time for enterprises to restructure. Many enterprises can not wait to divest their bad assets. In the process, many advantageous resources will also be concentrated on the dominant enterprises. The reorganization of industries and enterprises is of great significance to the upgrading of the whole industry, and has more special value for enterprises. " Mr. Ge, general manager of a sewing machine enterprise, said to reporters.
Mr. Ge also stressed that in the context of the international financial crisis and industry adjustment, although restructuring faces certain market risks, the cost of enterprise restructuring is much lower than that of other periods. In other words, if the above workers succeed in acquiring 100% assets, the "cost" will be small and the benefits will be better. This is one of the reasons for the "restructuring tide" in the industry.
Some domestic Sewing machine Senior executives admitted: "in the process of industrial upgrading and adjustment, integration and reorganization among enterprises is the stage that industry shuffle must go through, and it is the objective need of industry pformation and upgrading. After the reorganization of the new leap, the big family Yue Ming if the reorganization of the specific work is successful, then the enterprise's scientific research, production, management, marketing, brand strength will be greatly improved. From the perspective of long-term development and industry overall situation, whether ZOJE, new Jack, leaping or big family, Guangdong Ming, and even the whole industry are all more advantages than disadvantages, we can say that restructuring is the result of win win.
企業重組———作用顯著，也有待市場考驗
In an interview with reporters, Mr. Wang, the industry insider, said: "there is no doubt that the similar ways of mergers and acquisitions, such as acquisitions and mergers and acquisitions, are more beneficial to the development of today's enterprises, especially manufacturing enterprises. The key to restructuring is to choose a reasonable mode of corporate restructuring and restructuring. Choosing a reasonable reorganization mode and reorganization mode can create greater value for enterprises and realize capital re appreciation. "
Mr. Wang then took the above work as an example to analyze that, as mentioned in the takeover announcement, the company has not only complementarity in terms of product technology and varieties, but also has synergy effect in the procurement and manufacture, and more importantly, the target customers in the international market such as high-end clothing and footwear enterprises will play an active and important role in developing the international market and consolidating the first place in the market share of the European industrial sewing equipment market, and gradually achieving its goal of second place in the global sales scale.
Talking about leaps and bounds Recombination In the case of a Taizhou sewing machine dealer who has been working in Beijing for many years, he commented: "ZOJE shares are the leading enterprises of textile and clothing machinery listed in the small and medium-sized board of Shenzhen stock market. The new Jack is famous for its advanced technology and enterprise management. No matter what form the two enterprises are involved in restructuring or holding shares, their resources, management and other advantages will be integrated into the new leap forward operation. Of course, certain advantages of leap will also have a positive impact on their development."
"In the context of the Taizhou government's integration of the local sewing machinery industry and actively and actively seeking recovery, 7 local enterprises such as ZOJE stock, new Jack and star group have been reorganized to form a new leap. This" strong joint "resource optimization mode is enviable, and its long-term prospects are worth looking forward to. It will undoubtedly play a positive role in promoting the overall competitiveness of China's sewing machinery industry and enhancing the country's brand image. Mr. Ruan, the owner of a sewing machine company, told reporters about the restructuring.
Qiu Jibao, chairman of Leapfrog Group, said in a recent interview with the domestic media that "the leap Group will pour all its sewing equipment business into the" new leap ". In the future, it will focus on developing renewable and automatic control systems and other environmental protection and high-tech industries. After restructuring, the debt ratio of the group has been reduced to a reasonable level, while the "new leap" current debt ratio is less than 50%.
At the same time, Mr. Ruan also expressed cautiously optimism about the development of new leaps and other enterprises. He said: "it is undeniable that the role of reorganization is remarkable, but in the face of the international financial crisis and the adjustment of the industrial structure, the development of new leaps and the development of big family Yue Ming still needs to be tested by the market and its own development. As an enterprise, we need to solve many problems."
Although the announcement of ZOJE shares indicates that leaps and bounds, Jack and ZOJE are well-known sewing machine enterprises both at home and abroad, they participated in the cooperation of the local sewing machine enterprises under the guidance and promotion of the Taizhou municipal government. According to the analysis of ZOJE management, the participation in the industry cooperation is conducive to improving industrial concentration and reducing disorderly competition, enhancing the company's continuous operation ability, and helping the enterprises in the industry to solve difficulties, in line with the company's development strategy, and is conducive to the future development of the company, and is conducive to the development of China's sewing machinery industry.
However, ZOJE shares also acknowledged in the announcement that over the past year, due to the domestic and international environment and various factors inside the industry, the sewing machine industry has entered the industrial structural adjustment period, and many sewing machine enterprises including ZOJE are facing difficulties in operation. After the establishment of the new company, the relevant parties will be strongly supported, but the sewing machinery industry is still in the adjustment stage, and is expected to have little impact on the company's performance in the short term.
Case playback
Case 1
Cash injection of Taizhou enterprises such as ZOJE and new Jack
Leap leap registration new leap
Since the reorganization of the ZOJE sewing machine Limited by Share Ltd in September 2008, the reorganization of Zhejiang Fei Yue Group Limited has achieved significant progress in the near future. Recently, the reporter learned from Chen Guoqiang, assistant director of Zhejiang leap Group, which was jointly sponsored by 7 local Taizhou enterprises, including Zhejiang leap Group Co., ZOJE sewing machine Limited by Share Ltd, Zhejiang new Jack sewing machine, and so on. Zhejiang new leap Limited by Share Ltd (hereinafter referred to as "new leap") was registered locally in January 13, 2009.
The announcement was made by the ZOJE sewing machine Limited by Share Ltd on January 9th that the announcement of the listed company on the establishment of a new Zhejiang leap Limited by Share Ltd. In its announcement, ZOJE said it intends to invest RMB 30 million yuan to form a new Limited by Share Ltd in Zhejiang with 6 other companies including Xingxing group, leap Group and new Jack. 7 Taizhou enterprises signed the Limited by Share Ltd agreement on launching the new leap of Zhejiang in January 6, 2009 at the conference hall of Huayuan villa, Jiaojiang District, Taizhou, Zhejiang.
It is reported that Zhejiang's new leap Limited by Share Ltd has a registered capital of 316 million yuan, of which Star Group Limited invested 100 million yuan, with a shareholding ratio of 31.65%, becoming the largest shareholder of the new leap company, while Zhejiang Fei Yue Group Co., Ltd. was the largest shareholder in second shares. The shareholding ratio was 30.38%. The other shareholders' investment and shareholding situation were: Taizhou Jiaojiang District State-owned Assets Management Co., Ltd., ZOJE sewing machine Limited by Share Ltd, Zhejiang Hai Zheng Group Co., Ltd., Qianjiang Group Co., Ltd. and Zhejiang new Jack sewing machine Limited by Share Ltd, with a shareholding ratio of 14.24%, 9.49%, 6.33%, 4.75% and 3.16% respectively.
In addition to the 9600 yuan invested by the group, such as physical assets and patents, all the remaining shareholders are funded by cash. According to the agreement, the leap Group should pay 35 million 636 thousand and 200 yuan by machine equipment before January 12, 2009, and the remaining 60 million 363 thousand and 800 yuan will be funded in March 31, 2009 by patented technology and cash. The leap Group will lose its original corporate controlling shareholder status, but the main business of the new leap will also be based on the old sewing machine manufacturing, sales and related technology import and export business, which is also confirmed by Chen Guoqiang.
Leap Group's integration stems from its capital chain break. In fact, not only is the leap Group, but in the past year, due to the influence of various factors in the domestic and international environment and industry, the sewing machinery industry has stepped into the industrial structural adjustment period. Many sewing equipment manufacturers and distributors are facing difficulties in operation. and
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