YOUNGOR's Response To The Big Layoffs Is In Fact A Voluntary Dispatch Of Employees To Subsidiaries.

Shanghai and Shenzhen two cities in 2011 Annual report shows that the performance of the textile industry's growth rate has dropped sharply. A piece of news circulated on the Internet yesterday is even more touching: half of the companies listed on textile and clothing companies last year implemented the staff reduction plan, of which YOUNGOR (600177, stock bar) laid off 17 thousand and 200 people. However, YOUNGOR responded yesterday that it was totally misread. Yesterday, YOUNGOR's share price closed at 10.24 yuan, up 0.99% from the previous trading day.

　 YOUNGOR cuts more than 17 thousand people

According to statistics, at 73 Home textile and clothing In the listed companies, after the two listed companies were eliminated last year, the number of employees in the 71 companies decreased 22179 to 347068 last year, down 6% from the same period last year, after excluding the 002634 listed companies and 002640 companies.

Combing shows that last year, a total of 36 companies were downsizing, that is, half of the companies listed on textile and clothing companies were implementing the staff reduction plan. Among them, the number of employees decreased by more than 1000, including YOUNGOR, Huafu color spinning (002042, stock bar), ST de cotton, Jihua Group (601718, stock bar), Xinye textile (002087, stock bar), Xun Xing share (002098, stock bar), Changshan stock (000158, stock bar), reduced 17199, 3314, 3131, 1837, 1478, 1317, and 3131, respectively.

YOUNGOR's loss of 17199 people has undoubtedly become the most tragic company in the industry, and its number of layoffs exceeds the total of the remaining 35 textile and garment enterprises, accounting for 77.55% of the total number of 71 companies in the last year. Compared to YOUNGOR's layoffs, Saturday (002291, stock bar), fuanna (002327, stock bar), keno Technology (600398, stock bar), Luo Lai home textile (002293, stock bar), and ranzi stock (002612, stock bar) last year, the number of employees increased by five, increasing 1579, 1121, 1119, 784 and 710 respectively. But it is worth noting that the stock increased by 1.5 times compared with the same period last year.

　 Transferring subsidiaries to nearly 20 thousand employees

Liu Xinyu, secretaries of Limited by Share Ltd group of YOUNGOR group, told reporters that the reduction of staff numbers was not due to layoffs, but after the transfer of subsidiaries.

At the end of 2007, YOUNGOR spent $120 million on the 100% equity of Singapore and Malaysia, including the purchase of new Malaysia costumes for $70 million, and the acquisition of Singapore Malaysia International for $50 million. This is an overseas acquisition case involving the largest amount of money in the history of Chinese clothing (000902, stock bar) industry.

In June 2011, YOUNGOR was a subsidiary of new Malaysia. Clothing equity The price is $80 million transferred to Shengzhou Sheng Tai yarn weaving technology Co., Ltd. "While transferring the new Malaysia clothing company, nearly 20 thousand employees of the new Malaysia clothing company no longer belong to YOUNGOR, but belong to Sheng Tai yarn dyed technology limited company." Liu Xinyu said that YOUNGOR is currently committed to the construction of clothing brand, expanding the scale of production and operation.

achievement : Quarterly net profit fell 34.27% year-on-year

In its 2011 Annual Report, YOUNGOR also said: the downside of the economic operation, the strict regulation of the real estate market, and the downturn in the stock market all have certain effects on the development of YOUNGOR. Faced with the severe market environment, YOUNGOR has realized the rapid growth of sales and the rapid promotion of brand awareness by changing the way of economic development through industrial transformation. In order to achieve the goal of transforming garment business from "production and management to brand operation", YOUNGOR complied with the market situation, constantly integrated the industrial layout, and gradually increased its profitability.

However, from the annual report, the growth rate decline is an indisputable fact. YOUNGOR's 2011 annual financial report shows that the company achieved operating income of 11 billion 539 million yuan last year, down 20.49% compared to the same period last year. Net profit attributable to shareholders of listed companies was 1 billion 763 million yuan, down 34.03% compared with the same period last year. At the end of 2011, the company's earnings per share were 0.79 yuan, down 34.03% from the same period last year.

For the reasons for the sharp decline in performance, YOUNGOR's earnings explanation is that the company has voluntarily reduced the export of garment manufacturers, and reduced the delivery of completed real estate projects during the period, resulting in a decrease in operating income. The net profit decline was due to the reduction of investment income from the financial investment business and the decrease in real estate delivery due to the reduction of investment income from the sale of financial assets.

　　 Youngor On the evening of April 25th, the first quarter report was released in 2012. The net profit attributable to shareholders of Listed Companies in the first quarter was 256 million yuan, down 34.27% from the same period last year, and the basic earnings per share were 0.1150 yuan. YOUNGOR said the first quarter decline was due to a sharp decline in earnings from the financial investment sector.

Total textile and garment industry performance growth slowed sharply

According to combing, 73 listed textile and garment enterprises achieved a total operating income of 166 billion 753 million yuan last year, an increase of 15.63% over the same period last year. Compared with the double-digit growth of revenue, the profitability of textile and garment enterprises dropped to a single digit. Last year, the net profit of shareholders belonging to the parent company was 12 billion 470 million yuan, an increase of only 2.16% over the same period last year, and the growth rate dropped sharply. In 2010, the data increased by 28.95%.

According to Wind statistics, in 2011, the profitability of the 73 listed textile and garment enterprises overall declined sharply, of which 26 companies net profit decreased year by year.