Xu Zhaoyang: The Dynamic And Open Pformation Of Production Factors Is The Way Of Rapid Growth Of Foreign Investment In Textile Enterprises.

Under the impetus of market and information globalization, enterprises are facing

Because of the adjustment and balance of many internal and external interests such as shareholders, managers, employees, consumers, creditors, suppliers, local governments and the public, the difficulty and risk of mergers and acquisitions are often beyond imagination.

In the global economic environment, combined with the characteristics of textile industry and enterprise's own conditions, the author thinks that we can focus on the following aspects:

First, the relevant textile enterprises must be based on their market position, development goals and

Among them, "trade substitution" is suitable for export oriented clothing enterprises which mainly face overseas development, and its leading products are subject to anti-dumping investigations.

Timely acquisition of overseas similar target enterprises can obtain foreign market networks and bypass them.

Secondly, the implementation of M & a growth strategy for textile enterprises depends on whether the enterprises are fully prepared and whether the M & A environment is mature.

M & A surveys mainly include the company's operating conditions, company regulations and contracts, corporate finance and accounting matters.

The specific content depends on the information needs of managers, the size and relative importance of potential Target Corp, the reliability of financial information, the size of internal risks and so on.

Moreover, M & A opportunities are often fleeting.

Owners and enterprises should pay attention to "healthy" target enterprises, and pay more attention to "shock" enterprises that are in low ebb, undervalued and consistent with company strategy.

For example, in the haze of the financial crisis, some influential textile and garment enterprises appeared to have difficulties in operation and undervalued, which provided an opportunity for powerful textile enterprises to acquire low-cost products.

Among them, Shandong Ruyi purchase RENOWN price less than 5 years ago 30%; the United States clothing only use receivables to achieve the acquisition of two seamless underwear brands in the United States.

Due to the accurate acquisition of M & A, it not only reduces the cost of M & A, but also wins the market opportunity for the rapid growth of enterprises, and the risk of M & A can be controlled.

In addition, integration is the key to achieving the expected value of mergers and acquisitions.

The integration of resources, such as people, wealth, goods, knowledge and information, is difficult for many stakeholders.

Global merger and acquisition business partner Jack

Prouty points out that 70% of the M & A failures in the world stem from the merger and acquisition process.

Therefore, we should integrate emotional integration, camera integration and flexible integration to advance the process of M & A integration and control the risk of M & A integration.