Early Sale Of China'S Clothing Assets At The Beginning Of The Year, Or A Further Loss

Chinese clothing says

On the 12 and 28 days, Chinese clothing announced the pfer of Shunde's Chinese clothing list. It was announced that as of December 23, 2011, the company had received the total pfer price of 54 million 554 thousand and 570 yuan, which was paid by Hongda industries, and the registration of industrial and commercial registration in Shunde has also been completed.

Chinese clothing claims that the initial value of the asset valuation is expected to generate 1 million 420 thousand yuan in the pfer of equity.

Yesterday, a call to Chinese clothing, the company's Securities Division told reporters that the auction of Shunde's clothing equity is to integrate needs.

"Some of the less profitable companies will be auctioned off."

Buyers and sellers are tacit understanding.

The auction of Chinese clothing in Shunde has obvious traces.

As the acquirer Hongda Industry is a subsidiary company of China Hi-Tech Group Corporation, China's apparel control shareholder, the paction is related to pactions and needs to be acquired through the general meeting of shareholders.

In October 27, 2011, 70% of the shares of Chinese clothing control company, Foshan Shunde District Zhongfu textile printing and dyeing Co., Ltd. (hereinafter referred to as "Shunde Zhongfu") were officially listed on the Beijing property exchange, and the paction price of the pfer was not less than 54 million 554 thousand and 570 yuan.

Then, in November 3, 2011, Chinese clothing received a letter from Hongda Industry that he was interested in taking part in the acquisition of Shunde's Chinese clothing stock.

6 days later, Chinese clothing announced the convening of the fifth provisional shareholders' meeting. In November 24th, it passed a motion agreeing to participate in the acquisition by Hongda Industry.

There were few shareholders voting at the shareholders' meeting.

A total of 66 shareholders and shareholder agents representing the shareholders' meeting and voting on the Internet represent 14784852 shares, accounting for 5.7306% of the total number of voting shares.

Among them, only 2 Shareholders and shareholders representing the shareholders and shareholders attending the meeting of the shareholders' meeting represent 5242767 shares of the shares, accounting for 2.0321% of the total number of voting shares in the company.

After the motion was passed on 24, Hongda Industry could not wait to buy the shares of Shunde's Chinese clothing on the second day, that is, 25 days, and became the final pferee, the paction price was 54 million 554 thousand and 570 yuan.

As of December 23, 2011, Chinese clothing finally received the total pfer price of 54 million 554 thousand and 570 yuan by the end of this year.

The auction of Chinese clothing is estimated at 1 million 420 thousand yuan.

In the notice of assignment, Chinese clothing said that in order to optimize the assets structure of the company and open up new businesses, it would sell shares in Shunde.

Caixing International Co., Ltd. has the remaining 30% stake in Shunde Zhongyi company, which has abandoned the exercise of preemption for the pfer.

China's clothing auction equity or tight cash chain requires cash flow to invest in the new production cycle. At the same time, because the enterprise has opened up new trade businesses, the cost will increase, and funds will be needed to supplement and develop.

Yesterday when interviewed Chinese clothing, the company securities department personage said, the company auction Shunde Chinese clothing equity is also for company integration consideration.

"Some of the less profitable companies will be auctioned off."

According to the introduction, Shunde Zhongfu achieved 160 million yuan of business income in 2010 and a net profit of 2 million 710 thousand yuan. As of August 31st, the monthly report showed that the company achieved a net profit of 201 thousand and 700 yuan.

On the basis of May 31, 2011, Shunde serves Chinese

Chinese clothing claims that the initial value of the asset valuation is expected to generate 1 million 420 thousand yuan in the pfer of equity.

This income is far from enough for Chinese clothing, because the company lost 12 million 859 thousand and 500 yuan in the first three quarters. If the company's fourth quarter profits are not reversed, the company will again face the danger of losing money.

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Losses in the first three quarters of 12 million 859 thousand and 500 yuan, the main industry gross margin is only 7.53%

In the 2008 consecutive and two consecutive years of loss in 2009 and the realization of profits in 2010, Chinese apparel succeeded in attracting stars in April 2011.

However, the performance of the company since 2011 has not been reversed.

In the first three quarters of this year, China's clothing net profit was 12 million 859 thousand and 500 yuan.

The decline in corporate profits is mainly due to the impact of the current raw material, labor costs, RMB appreciation and other factors, resulting in increased cost. Foreign consumption market is affected by the debt crisis in Europe and the United States, and the demand is slowing. However, the domestic tightening of the macro policy direction has, to a certain extent, inhibited the growth of terminal consumption, coupled with the expansion of new trade businesses by enterprises, resulting in increased costs, resulting in reduced profits and overall loss.

Referring to the 2010 annual report of Chinese clothing, we found that the main business of the company was low in gross profit margin.

Among them, the gross profit margin of the largest import and export trade of the company's main business is only 5.04%, while that of textile printing and dyeing is 7.53%, while garment processing is even at a loss, with a gross margin of 62.12%.

With the auction of Chinese clothing in Shunde, the textile and dyeing business of the company is less and less, and its proportion gradually decreases.

At present, only 5.04% of the gross margin is imported and exported.

At present, the goal of our clothing companies is to increase the added value of their products and strive for bargaining power to raise the gross profit margin of the products.

And how to create new business with high added value will be a pressing problem for Chinese clothing.

According to the above securities department personage introduction, the new project that Chinese clothing is built this year is the Chinese fashion media.

It is understood that the project will invest 50 million yuan.

Whether this project can become a new profit growth point of Chinese clothing remains to be tested by time.

Southeast Asian low cost squeezing Chinese clothing orders shrink

Chinese clothing is a listed company based on export trade, but with the low cost squeezing in Southeast Asia, the company's export pressure is also increasing.

From the perspective of foreign factors, the slowdown in global economy and the lack of demand pull in countries such as Europe and the United States have caused the shrinkage of overseas orders of Chinese clothing to a certain extent. From domestic factors, factors such as rising production costs and appreciation of the renminbi have made the products rise and weaken the price advantage. Therefore, most of the middle and low export orders have shifted to Southeast Asian countries such as Vietnam, Bangladesh and Indonesia, while high-grade clothing has been changed from Europe and the United States.

According to reports, as the second largest industry in India to create jobs, India's clothing industry now provides employment opportunities for some 7 million Indians.

US demand growth supports India's clothing exports.

In June 2011, India's clothing exports increased by 42% over the same period last year, double the increase in February of the same year.

Previously, in order to change the unfavorable situation of over reliance on traditional import and export business in the past, Chinese clothing changed the previously established "Sino spinning joint import and export Limited by Share Ltd" to "China spinning Abt Associates Inc" to reduce the limitations of the single industry, set up a new corporate image and market positioning, and at the same time, the registered capital of the company increased to 100 million yuan.

According to the people of China's clothing and securities department, the company will invest in new trade varieties and regions, but there are no new projects yet.

As a listed company, enterprises not only have strong brand influence, but also have certain financing channels, which will be conducive to the development of the subsequent stage, and with the expansion of enterprises' new trade operations and efforts to put into production and design links, there is still potential for development.