Phoenix Bamboo Textile Won 80 Million Of The Government's Reward 2012

For six months since June 26, 2012, Feng Zhu Spin A total of 80 million yuan government awards were awarded to the people's Government of Anyang City, and the company turned around in 2012.

Since June 26, 2012, Feng Zhu textile, which is located in Qingyang County of Fujian Province, has been awarded three times by the government of the northern pass government in Anyang province for the first time, 30 million yuan, which has been included in the income from the mid 2012 business. It was turned into deficit at the end of the two quarter. In September 28th, it was rewarded by the government 20 million yuan, which was included in the three quarterly earnings from 2012. In December 21st, the company's third government award of 30 million yuan will be included in the extra income of 2012. achievement 。

However, despite the award from the government, Feng Bamboo textile industry turned into a deficit at the end of the two quarter of 2012 and the end of the three quarter, but its operating profit showed a loss expansion trend. In the first three quarters of 2012, the company suffered a loss of 55 million 210 thousand yuan and a loss of 41 million 810 thousand yuan at the end of 2011.

Why does the people's Government of Bei Guan District in Anyang pay huge sums of money to the frequent loss of Phoenix Bamboo textile? Originally, in March 2012, the Phoenix Bamboo textile project located in Qingyang County of Fujian Province invested 2 billion 300 million yuan to build a production base in Anyang. The first phase invested 420 million yuan, and the main body was Henan Phoenix Bamboo Textile Co., Ltd., with a registered capital of 120 million yuan.

"The Anyang project is very important to us," Feng Zhu textile securities affairs representative. Chen Mei Zhen Told reporters, "Anyang has the basic conditions of production factors such as water, electricity and steam needed by the company. The government's support is also very large. After demonstration, there is a considerable demand in the surrounding market, so the company has chosen to invest in Anyang."

But it is worth noting that the 2012 China Daily reported that Henan Phoenix Bamboo Textile Co., Ltd. only reached 50 million yuan. Feng Bamboo textile funds are tight. Looking at the company's three quarterly report in 2012, it can be found that only 130 million yuan of money is available on the company's account, and the assets and liabilities ratio of the company is as high as 52%.

Tan Ke, an analyst with Dongxing's securities and textile industry, said the company's domestic customers are mainly in the province, and the export market is concentrated in European and American countries. Constrained by the continued weakness of overseas markets and the decline in domestic market growth, the utilization of capacity of the company began to decline from the second half of 2011.

In addition, according to the notice issued by the people's Government of Jinjiang municipality of Fujian Province on the relocation of the phoenix bamboo area in August 29, 2012, Feng Bamboo textile is in the relocation list.