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    YOUNGOR: A Double-Edged Sword To Earn Fast Money &Nbsp; Clothing Real Estate Development

    2011/10/19 15:52:00 57

    YOUNGOR Fashion Big Brother Fashion

    YOUNGOR started with clothing. When the whole garment industry has already passed the production and marketing outsourcing, only the brand and the light assets path, YOUNGOR chose the opposite business path. At that time, YOUNGOR, with the largest clothing production base in Asia, began to expand in the upstream and downstream of the industrial chain. In the lower reaches of the industrial chain, YOUNGOR started with clothing. When the entire garment industry has already passed the production and marketing outsourcing, only the brand and the light assets path, YOUNGOR chose the opposite business path. At that time, YOUNGOR, with the largest clothing production base in Asia, began to expand in the upstream and downstream of the industrial chain. In the lower reaches of the industrial chain, YOUNGOR invested heavily in the major cities to invest in 7 billion yuan or so to build 500 stores. In the upstream, YOUNGOR spent a lot of money on building cotton production base, washing plant and textile industrial city. In this way, from raw materials, fabrics, clothing to sales, YOUNGOR's apparel industry is becoming more and more important. However, after the extension of the battle line, YOUNGOR has not only shown the momentum of being able to swallow up the mountains and rivers, but on the contrary, in 2009 and 2010, the overseas business of YOUNGOR continued to grow negatively. This also makes YOUNGOR start to devote more energy to developing other businesses.


    Bottlenecks: whether real estate and financial investments have high growth potential is doubtful, and the three business spin offs have been difficult to make progress, and downsizing is not easy.


    New engine: financial investment and real estate development.


    Status quo: 2010 Youngor Investment business lost nearly 2 billion yuan, and this year's performance growth still depends on equity and real estate investment.


    At present, YOUNGOR, which has set foot in the stock and real estate investment for "enriching the industrial chain", now has the traction of the three carriages of clothing, equity investment and real estate investment. The profit margin of the two businesses has always been far higher than that of the main industry clothing. But if we regard real estate and equity investment as YOUNGOR's new engine, we obviously underestimate the greater value of the new engine. A company that pursues the evergreen industry needs the new business that can lead its second flight in the course of its operation. But for the bubble real estate and stock market, a traditional manufacturing enterprise starts to focus on these two businesses, and still belongs to the simple business speculation in the foaming business environment.


    Chinese demand for houses has spawned a number of real estate myths, and also spawned many companies' desire to cross the border to find profits. Red beans, Shan Shan, Lining, YOUNGOR and other garment enterprises have suddenly become developers, and Haier, Hisense, TCL and other household electrical appliance enterprises have begun to dig gold on the land. Among them, YOUNGOR has always been regarded as a typical example. The evaluation of YOUNGOR by capital market is usually "not doing business" and not concentrating on it. clothing Business development is addicted to making quick profits from investment and real estate business.


    Let's see, where is YOUNGOR's "doing nothing"? This year alone, YOUNGOR has pulled out a total of up to 5 billion 500 million yuan, subscribed to up to 10 listed companies' non-public offering shares, including Suning Appliance, Futian Automobile, Xugong machinery and so on. From the semi annual report released by YOUNGOR, its investment income reached 943 million yuan, accounting for 77.18% of its operating profit; while in real estate business, YOUNGOR only took 2 billion 400 million yuan and 3 billion 300 million yuan in Hangzhou and Shanghai at a high price in 2010 alone.


    As for the "do nothing", Li Rucheng, chairman of YOUNGOR, obviously disagrees. His logic is to invest in real estate by the money earned by clothing, and financial investment is the backing to drive the overall upgrading of YOUNGOR's industrial structure. Li Rucheng also stressed that if there is no access to real estate and financial investment, YOUNGOR can not have about 20000000000 Yuan of net assets, clothing and real estate are YOUNGOR's core business, and this business policy remains unwavering for at least 20 years.


    But similar entities like YOUNGOR have entered the real estate sector. Obviously, this is not a good phenomenon, nor is it a story of mature business environment. The bad effects are even more obvious, because these enterprises can make money in the real economy and real estate field, and the real estate is regulated as "air conditioning", and the industrial economy is shrinking.


    Returning to the common sense of Commerce, a new engine of an enterprise should be able to bring the enterprise to the two youth, not only in the net assets, but also have a substantial positive impact on the future growth, cultural environment and industrial structure of enterprises, and more importantly, it should not be affected by the environment and policies. But in 2010 alone, YOUNGOR's investment business lost nearly 2 billion yuan due to the continued downturn in the stock market. Therefore, in the long run, real estate and equity investments only bring YOUNGOR's investment. Short prosperity 。


      

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