Leading Enterprises In China'S Color Spinning Industry Will Officially Enter The A Share Market.

On Monday evening, the Baron Oriental Limited by Share Ltd began issuing a letter of intent to offer shares (stock short: Baron East, stock code: 601339).

The company intends to issue no more than 150 million shares, accounting for 20% of the total share capital issued after the issue, and the total share capital after issuance will not exceed 750 million shares.

The stock will be purchased online and offline in May 31, 2012. According to the schedule, the consultation time will be 28 days on May 23, 2012 -5. The price announcement will be published in June 4, 2012. The online subscription date and payment date will be May 31, 2012. When the issue is over, the application will be listed on the Shanghai Stock Exchange as soon as possible.

The company is mainly engaged in R & D, production and sales of colored spun yarn, including pure cotton colored spun yarn, blended yarn and so on.

The offering and listing of the project are 25000 tons of color cotton spinning in Zoucheng, Shandong, and Jiangsu Huaian high-grade textile production and other main business related working capital, with a total investment of 1 billion 62 million yuan.

This indicates that the leading enterprises in China's color spinning industry will officially enter the A share market.

Award-winning innovative products

Baron East has been concentrating on the development of new varieties. At present, more than 5500 color spun yarn has been launched, covering all the popular color series, which can meet the needs of all kinds of fabric production.

In addition, according to market demand, the company successfully developed natural colored spinning (SUPIMA cotton, flax, spun silk, cashmere, shrinkproof wool, etc.), health and environmental protection color spinning (modal fiber, bamboo fiber, Tencel fiber, soybean protein fiber, seaweed fiber, milk protein fiber, corn fiber, etc.), functional color spinning (anti ultraviolet polyester, antibacterial fiber, air conditioning fiber, fast drying polyester, warm fiber, moisture absorption and sweat fiber, etc.) three series products.

The company's innovative products have been included in the ranks of China's popular fabrics many times, and have won many awards such as "China Textile Industry Association's product development contribution award", "excellent innovation award" and "excellent design award".

The company ranks fortieth in the 500 competitiveness of China's textile and garment enterprises released in the China Textile Industry Association (2009-2010), ranking third in the "China's cotton textile and dyed fabric industry competitiveness 20" in 2009-2010.

Capacity expansion and sales growth

After decades of accumulation in the colored spinning industry, Baron Oriental has established an experienced core management, R & D, production and sales team.

The company has a production base in Zhejiang, Shandong, Hebei, Jiangsu and other places. The annual production capacity of all kinds of color spinning products is close to 1 million ingot.

Relying on the rapid development of the industry and the company's leading edge, Bailong Oriental has achieved rapid growth in the past three years. The prospectus shows that in 2009 -2011, the sales revenue of the main colored yarn products of the company was 3 billion 100 million 293 thousand yuan, 4 billion 14 million 916 thousand and 900 yuan and 4 billion 20 million 886 thousand and 300 yuan respectively, and it continued to grow.

According to the time of issue, Baron Oriental Limited by Share Ltd will launch the inquiry of A shares from May 23rd to May 28th in Beijing, Shanghai, Shenzhen and other places, and will announce the inquiry interval in May 30th.