In June 14Th, Shandong Taifeng Textile Hongkong Listed &Nbsp; Laiwu Enterprises Listed The First Step.

At 10 a.m. on June 11th, Shandong Taifeng Textile Co., Ltd. (Code: 00873) was successfully listed on the main board of Hongkong stock exchange for global distribution.

This is the first listed company in Laiwu, Shandong. It is also the first domestic textile enterprise listed in Hongkong.

The Shandong Taifeng Textile Co., Ltd. issued 280 million shares, of which 90% of the international placement, 10% of the public offering, the stock price of 2.06 yuan, raised a total of 580 million yuan.

The net amount of fund-raising will mainly be used to enhance the sales and brand establishment of bed products business, expand and enhance the capacity and enhance the product design and quality control capability of the group.

Taifeng is now the fourth largest manufacturer of high count yarn and fine count yarn in China.

As of December 31, 2009, the bed product business accounted for 45.6% of its overall revenue, and its gross margin reached 49.6%, much higher than its gross profit margin of 12.3% of cotton yarn business at the beginning of its development.

Liu Qingping, chairman of Shandong Taifeng Textile Co., Ltd. said that the listing plan is not just fund-raising, but mainly to enhance the brand value and optimize the ownership structure.

The group will set up 500 additional retail outlets by 2011 to further expand the sales network of bedding products, with a view to becoming a major profit growth point in the future.

Short comment

Opening up and developing new picture scroll

Taifeng textile has successfully listed on the main board of Hongkong, becoming the first listed enterprise in Laiwu and the first domestic textile enterprise listed in Hong Kong.

The good news is inspiring and inspiring.

Listing gives birth to opportunities.

Taifeng textile has been listed successfully, from the product market to the capital market. This is a new opportunity and a good platform to optimize the ownership structure and enhance brand value. It will provide powerful impetus for the company to expand its scale and accelerate its development and open wider space.

Listing highlights the realm.

Since its establishment for more than 20 years, Taifeng Textile Group has been promoting Laiwu's economy as its responsibility until it has become the fourth largest manufacturer of China's high count yarn and fine count yarn, and the eighth largest manufacturer of bedding products in China.

Responsibility drives momentum and boundaries promote development.

With the vision of the world and the sense of excellence, Laiwu's enterprises can compete for the national and even the world stage.

The spirit of listing is concise.

Taifeng textile development and listing practice has always been permeated with a will to seize opportunities, tackling difficulties and striving for the first.

Taifeng textile is determined to launch a big business, set up a new Bureau and strive for first class in listing. This spirit of high positioning, focusing on goals and striving for courage has fully demonstrated the connotation and charm of the spirit of "three creation".

Successful listing is both a milestone and a starting line. It is the starting point for Taifeng textile to take advantage of the momentum and make persistent efforts to open up new pictures.

All departments and enterprises at all levels should conscientiously study the Taifeng Textile Group, strengthen the spirit of "three creation", energetically and energetically, forge ahead and push ahead with all levels of work and scientific development.

(Laiwu daily)