The Investment Boom Of The First Three Quarters Of The Textile And Clothing Sector Under The Freezing Point Of Financing

This year, the largest A share market. IPO Project - China hydropower has been approved by the CSRC, opened the roadshow curtain, plans to raise 17 billion 317 million yuan, and coincidentally, IPO's "Big Mac" Shaanxi coal industry shares are also planning to raise 17 billion 200 million yuan, and the total amount of financing raised by the two companies is as high as 34 billion 500 million yuan. Once there is a super financing situation, the scale of financing is likely to exceed 40 billion yuan, which makes the current A stock market with more and more panic and more troops worse. In September 20th, the Shanghai Composite Index finally broke down in August, with a 2437.17 month low of 14 months.

With the overall situation of A shares, the enthusiasm of refinancing of textile and apparel listed companies has dropped to freezing point. Except for IPO in August, there was no financing and refinancing company in the three quarter. At the same time, the listed companies have not tightened up their pocketbooks, and the investment has been very hot. Moreover, diversification has become the common point of investment for textile and apparel listed companies, including investment and financing products, investment equity, equity participation in the construction of non leading companies.

　　 Financing fell 40% in two consecutive quarters.

With the weak trend of A shares since the two quarter, the enthusiasm for financing of listed companies has dropped sharply. The total amount of financing and refinancing of textile and apparel listed companies has been reduced by more than 40% in two quarters.

According to the latest statistics of WIND information, including starting and issuing, Allotment of shares In the first quarter, 157 A share companies expected to raise total funds of 122 billion 698 million yuan, and the total amount of actual fund-raising was 250 billion 238 million yuan. The top three industries with the largest amount of financing were chemical industry (25 companies actually raised 74 billion 534 million yuan), machinery and equipment (29 companies actually raised funds 43 billion 733 million yuan), and delivery equipment (5 companies actually raised funds 26 billion 698 million yuan). A total of 4 listed companies in the textile and garment sector raised 5 billion 752 million yuan, slightly higher than the estimated total amount of 5 billion 464 million yuan. The first 2 textile and apparel stocks in the first quarter, the total number of initial shares totaled 93 million 340 thousand shares, actually raised 5 billion 84 million yuan; another 1 companies increased 29 million shares, actually raised 290 million yuan; 1 companies allotment shares, issued shares of 51 million 577 thousand shares, and actually raised funds 378 million yuan.

In the two quarter, 138 A share companies expected to raise the total amount of 91 billion 341 million yuan, the total amount of actual fund-raising was 191 billion 779 million yuan, a decrease of 23.36%, and the three largest industries with the largest amount of financing were financial services (2 companies actually raised funds 37 billion 771 million yuan), chemical industry (25 companies actually raised funds 30 billion 165 million yuan), and machinery and equipment (26 companies actually raised funds 30 billion 165 million yuan). A total of 2 listed companies in textile and apparel industry raised 3 billion 170 million yuan, which was equal to the total amount expected. However, compared with the first quarter, the amount of financing in the industry dropped by 44.89%. In the two quarter, there were 2 textile and apparel stocks, the total number of initial shares was 173 million shares, and the actual fund raised was 3 billion 170 million yuan. {page_break}

In the three quarter, 104 A share companies expected to raise the total amount of 117 billion 105 million yuan, the total amount of actual fund-raising was 172 billion 77 million yuan, a decrease of 10.27%, and the top three industries with the largest amount of financing were commercial trade (1 companies actually raised funds 38 billion 937 million yuan), financial services (4 companies actually raised funds 22 billion 586 million yuan), and machinery and equipment (24 companies actually raised funds 22 billion 586 million yuan). A total of 1 listed companies in textile and apparel industry raised 1 billion 750 million yuan, which was equal to the total amount expected. However, compared with the two quarter, the amount of financing in the industry dropped by 44.79%. There were only 1 textile and apparel stocks in the three quarter. In August, the total number of initial shares of IPO was 50 million shares, and the actual fund-raising fund was 1 billion 750 million yuan. In the quarter, there was no issuance and no rights issue listed companies in the industry.

In view of this, the textile and garment companies are facing a "drop and fall" stock market, slowing down the pace of financing rapidly, and the supply and demand of the two tier market in this industry is basically balanced.

　　 Investment in main business is not soft.

It is easy to see through the investment announcement of listed companies. Many textile and apparel listed companies actively invest in projects closely related to their main businesses.

Initial public offering New shares In the prospectus, the prospectus disclosed four projects invested in marketing network construction, expansion and expansion of Beijing production base, design exhibition center and information system construction, with a total investment of 850 million 998 thousand and 200 yuan. Among them, the investment in marketing network project is 587 million 535 thousand and 200 yuan, 29 shops are planned to be optimized, 183 new self built shopping malls, 3 new self built flagship stores, a total of 215 shops are built, the average annual operating income is 648 million 562 thousand and 100 yuan, the average annual net profit is 148 million 896 thousand and 200 yuan, and the average annual net profit of Beijing is 148 million 896 thousand and 200 yuan. The investment and expansion project of the production base in Beijing is 139 million 717 thousand and 600 yuan, which further solves the problem of restricting the development of the high-end women's clothing by adopting the mode of commissioned processing. The project is being revamping and expanding at the existing production site of the company, using some of the original technology and equipment, and purchasing advanced and mature technological equipment and utility facilities, so as to form an annual output of 600 thousand pieces / sets (that is, 500 thousand pieces / sets) of brand clothing production capacity. The average annual operating income is 211 million 612 thousand and 800 yuan, with an average annual net profit of 26 million 660 thousand and 100 yuan. In addition, 68 million 579 thousand and 200 yuan and 55 million 166 thousand and 200 yuan were invested in exhibition center construction and information system improvement.

Apart from the shares, Changshan's shares, Fiat shares, Hongda tech and so on.

Changshan shares disclosed that the high-end textile product development and production technology transformation project completed a total investment of 152 million 954 thousand yuan, has reached the intended use state in July 2010; the development of high-grade multi component fiber clothing fabric project invested a total of 284 million 598 thousand and 500 yuan, all the equipment has arrived, is in the installation and commissioning process, is expected to reach the intended use state at the end of the year.

Huafu color spinning August 20th announcement, the company intends to invest 154 million yuan in cash to Kuitun Jin industry to increase capital, after the completion of the total investment in Kuitun's total share capital of 67%. After the completion of the capital increase, the company will increase the production capacity of 143 thousand tons of colored spun yarn and 20 thousand tons of colored spun yarn annually, which will benefit the cost reduction of the company's westward shift policy. {page_break}

Hongda high tech announced in August 26th that the company invested 79 million 410 thousand yuan to implement an annual production of 3 million meters of environmentally-friendly automotive interior fabric project, introducing 28 sets of imported equipment such as warp knitting machine, large circular machine, glue compound machine, 460 sets of domestic equipment such as warping machines, large circular machines, and some public utilities, forming an annual production capacity of 3 million meters of environment-friendly automotive interior fabrics. The annual operating income of the company is estimated at 156 million yuan and the total annual profit is 31 million 168 thousand yuan.

　　 False prosperity of "not doing business"

Unlike the brakes on financing, the overall investment in A shares is hot, and the false prosperity of "money generating money" is obvious. In the textile and garment sector, this kind of investment is also common.

First, investment and financing products. After raising interest rates in July 6th, more than 10 companies announced the financial plan, and the investment in low-risk short-term financial products of listed companies reached a relative climax.

The Eastern market of medium term net profit fell by 19.68%. In September 9th, it announced that it would use less than 100 million yuan of idle funds to invest in low-risk bank financial products. According to the company's financial arrangements, we will determine the financing stage and choose the purchase of bank financial products. The longest investment period of a single product will not exceed 1 years.

Shanghai San Mao July 16th announcement, the company plans to invest 1 million 530 thousand US dollars (accounting for 51% of registered capital) and Japan MCS company (1 million 470 thousand US dollars, accounting for 49% of the registered capital) jointly established Shanghai good old age pension Product Development Co., Ltd., the investment period is 15 years; August 31st announcement, the company plans to use no more than 50 million yuan of its own funds to invest in low-risk bank financial products. Within the above amount, funds can be rolled up for a period of one year, and the investment period of short-term financial products of a single bank shall not exceed one year.

Second, investment equity. Jiangsu Kaiyuan announced in August 19th that the total investment of the company was about 49 million 960 thousand yuan. The two phase project of Kaiyuan Wuxi Industrial Park was built in Jiangsu. After the completion of the project, the expected rate of return will exceed 10%. In September 20th, the total investment of the company was 95 million 900 thousand yuan, and the 10 million shares of Guangdong water and electricity non-public offering shares were subscribed at the price of 9.59 yuan / share, accounting for 2.39% of the total share capital of Guangdong hydropower and non public offering.

YOUNGOR announced in July 6th that the company invested 120 million yuan in cash and subscribed for 6 million shares of Xinjiang Zhonghe and 20.05 yuan / shares, representing 1.46% of the total share capital of Xinjiang Zhonghe. In July 1, 2011, the company subscribed 3 million 740 thousand shares of the eastern zirconium industry at a price of 30.06 yuan / share at 112 million yuan. August 19th announcement, a wholly owned subsidiary of Ningbo youth Investment Co., Ltd. invested 390 million yuan, 24.97 yuan / share subscribed for 15 million 600 thousand shares of gold gold non-public offering, and promised not to transfer within 12 months after the completion of this subscription.

In August 25th, Huamao shares announced that the company invested 1 billion 615 million yuan to subscribe for 60 million shares of GF Securities at 26.91 yuan / share price, and promised a 12 month lock up period. In September 1st, the shareholders' meeting agreed to invest 450 million yuan to set up a mining investment subsidiary to carry out equity investment in mineral enterprises, so as to enhance the company's capital market operation efficiency and enhance the comprehensive competitive advantage of enterprise development. {page_break}

Third, equity participation in the construction of non principal companies. China clothing August 29th announcement, the company and its holding subsidiary Shanghai Jinhui jointly funded the establishment of Zhongfu fashion media Co., Ltd. (registered capital of 50 million yuan, the company invested 49 million 500 thousand yuan, accounting for 99%), the Chinese fashion media market has the characteristics of light assets, less investment, easy start, short cycle, quick results and other characteristics. At the same time, the company has a group of professionals in animation design, model exhibition, program planning and other aspects, this investment lays the foundation for the development of Future Ltd in the cultural industry, especially in the training industry. The company plans to invest in the establishment of "Zhongfu fashion media Limited" and other projects to cultivate new profit growth points.

On July 27th, CIS announced that the design capacity of the company's investment in the construction of the CIS thin film solar cell module is 60MW. At present, the first 30MW production line has been tested and debugged for the first time, and the photoelectric conversion efficiency of the battery modules has reached 10.5%. Photovoltaic industry as an important part of the new energy industry, the smooth commissioning of the project will have a positive impact on the subsequent development of the company.

Ordos September 20th announcement, the company intends to invest 100 million yuan to invest in the establishment of Ordos Dongjing photovoltaic materials Co., Ltd. (registered capital of 100 million yuan). Through the establishment of the company, continue to deepen the processing of polysilicon products, extend the company's original industrial chain.