Zhang Jie Responds To The Sale Of Chinese Clothing, "Throw Away The Burden".

< p > "gold-plated" can not be achieved. China's < a target= "_blank" href= "http://www.91se91.com/" > clothing "/a" has become a compound fertilizer enterprise.

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Less than p ago, a new restructuring plan for Chinese clothing was put forward by the listed companies of Heng Tian Group, that is, the total assets and liabilities (including contingent liabilities) of the company will be replaced by the 100% equity interest of Hubei Yang Feng holding company.

And through the issuance of 337 million shares, the fund-raising of not more than 300 million yuan, to supplement the company's main business development needs liquidity, and improve the reorganization of the integrated performance.

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After the completion of the paction, P will hold 45.5% of the company's shares and become the largest shareholder of the company. The main business of the company will also be changed from < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > printing and dyeing and textile trade to the production and sale of phosphatic compound fertilizer.

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< p > "Chinese clothing has been losing money for a long time. It is more and more unable to meet the requirements of the listed companies. We have worked hard for a long time, but we still haven't achieved much success."

Recently, in an interview with our newspaper reporter, Zhang Jie, chairman of China's Heng Tian Group, admitted that the group has been looking for suitable providers.

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The core business of P's main business has been pformed into a more profitable heavy vehicle and construction machinery industry. An analyst pointed out that the textile industry, which has long been around the breakeven point, has become a burden. "If we can get rid of it, it will be beneficial to the overall development of the group."

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< p > hard restructuring < /p >

< p > major shareholders of Chinese clothing have changed several times.

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< p > 1999, Chinese clothing was officially listed on the stock market, with a total capital stock of 258 million shares, with a total assets of 2 billion yuan.

Heng Tian Group is a controlling shareholder with a shareholding ratio of 51.01%.

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< p > 2007, with the adjustment of the group business, Heng Tian, at a price of 125 million yuan, pferred the 64 million 285 thousand state-owned shares owned by the company to the Hongkong and Shanghai (China) Co., Ltd., which owns 29.90%, and jumped to the largest shareholder.

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< p > "compared with other business of Heng Tian Group, the scale of Chinese clothing is not outstanding."

The above analysts pointed out that its main business is trade and textile, and the status of the industry is relatively not obvious. This makes Heng Tian group pay more attention to this enterprise, which is another reason why Heng Tian pferred it.

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After P, Han Po also had high hopes for Chinese clothing after receiving the market.

At that time, hemp, as a new popular material, is growing rapidly at a rate of over 30% worldwide. Han and Po put all Chinese hemp assets into Chinese clothing and independently developed the hemp business from the latter.

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Less than P, unexpectedly, this abacus fell behind in the face of the financial crisis.

The company's annual report shows that in 2007, the company's net profit was 6 million 21 thousand and 700 yuan, but in 2008 and 2009, it began to suffer a steep loss. Net profit loss was 47 million 775 thousand and 900 yuan and 48 million 610 thousand and 600 yuan.

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< p > at this time, as the controlling shareholder of a garment enterprise, it is difficult to protect itself. In desperation, in 2010, Han Po's "abdicated" will pfer the 38 million 820 thousand shares which have been renamed *ST to Chinese clothing, the third largest shareholder of Chinese clothing, Shenzhen West Spring pan East Investment Co., Ltd., accounting for 15.04% of the total share capital.

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< p > this situation made the second largest shareholder of the group, the group, become the largest shareholder of Chinese clothing once again.

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< p > Heng Tian pformation < /p >

"P", the Chinese clothing after the steering of the group has been temporarily preserved.

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< p > "at that time, the company of Bei'an, Hangzhou Zhonghua, Hangzhou Bai Fen and other companies that were losing money had pferred shares, and at the same time increased the business scope of agricultural products, mineral products and visual inspection."

The analysts pointed out that the company also strictly controls internal control.

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< p > Zhang Jie also pointed out that the company has made many efforts to keep the shell of Chinese clothing.

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< p > these measures make Chinese clothing temporarily out of danger of delisting. In those days, net profit reached 23 million 596 thousand and 700 yuan, "in a very difficult way, Chinese clothing turned around and was picked up."

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Less than P, however, the idea of changing Chinese clothing has not changed. As early as the first time, the group has publicly stated that it will not rule out the restructuring of Chinese clothing in the next 1 years.

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< p > at the same time, the prosperity of textile and garment industry is still maintained.

The company's 2012 annual report shows that the operating income during the period was 1 billion 565 million yuan, down 11.82% compared with the same period last year, and net profit was 44 million 174 thousand and 700 yuan.

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< p > Heng Tian Group speeds up the selling process, and the group accelerates its pformation.

Zhang Jie said that the group was determined to become "China's TOYOTA", and the company gradually took the automobile business as the main direction in the future.

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< p > "under the jurisdiction of the world, there are 6 shell resources inside and outside China. Chinese clothing looks like chicken ribs."

The above analysts pointed out that although shell resources are very valuable, but shell protection is difficult and energy consuming, if there are suitable catcher, it will be beneficial to both buyers and sellers.

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< p > Zhang Jie also admitted that the group has a large number of listed companies, but there are no relatively high-quality assets injected into Chinese clothing at present, so they can only be sold.

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< p > Yang Feng pan plate < /p >

With this idea in mind, P has been looking for suitable providers.

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< p > May 31, 2011, Chinese clothing announced the suspension of reorganization.

And its partners are the gold mines of Longchuan.

Since then, the company has announced 4 reorganizations, and the 1 suspension has been postponed to July 29th, but regrettably, the final cooperation is still "aborted".

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< p > Yang Zhihua, the legal representative of Longchuan gold mine, explained to the media at that time that the company originally intended to replace more than 70 tons of gold into Chinese clothing, which was widely distributed. However, due to the heavy workload, it was impossible to confirm all the resources of the company in July 29th.

In addition, the price of Chinese clothing has risen by about 3 times from the time of contact between the two sides and the scheme has not yet been negotiated. This has also brought pressure on Longchuan's takeover, so it can only be suspended.

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< p > Zhang Jie also said frankly, "indeed, as a mining enterprise, the requirements of relevant departments are very strict."

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< p > however, there are also unconfirmed sources that when the two sides negotiated, Longchuan gold mine only needed assets to replace a completely clean shell resource, but the idea of Heng Tian Group was that after restructuring, it hoped to get part of the shareholding and share the proceeds after reorganization, and the two sides could not reach a consensus.

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The twists and turns of "P" did not allow the group to abandon the idea of pferring Chinese clothing.

After more than a year's search, the Chinese garment distributors moved from Guangxi to Hubei.

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"P >" Heng Tian Group "intends to cooperate with the target group, which is the top ranked enterprise in the domestic compound fertilizer industry, that is, Hubei Yang Feng Limited by Share Ltd, and its asset replacement task is taken over by Hubei Yanfeng fertilizer company.

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< p > "this is a listed company that has been focused on by Hubei province."

A person familiar with the matter in Hubei revealed that although it is a private enterprise, its profitability and asset size are in the forefront of the industry, and is also a key enterprise in Hubei. The company has been looking for listing opportunities.

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< p > public information also shows that between 2010 and 2012, Xinyang Feng's net profit reached 382 million, 476 million and 371 million yuan respectively.

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< p > "good assets and strong profitability, but the main business of the company is phosphate fertilizer, compound fertilizer, etc., but it has been difficult to pass the approval of the SFC in environmental protection."

These people pointed out that this also basically blocked the way of the company IPO, which can only be refunded to seek a backdoor listing.

Chinese clothing belongs to the shell resources of state-owned enterprises, relatively clean and difficult to reorganize. This is also an important reason for Xinyang Feng to choose Chinese clothing.

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< p > Zhang Jie also pointed out that the company belongs to an agricultural enterprise and belongs to a state supported industry. Its profitability and market capitalization meet the requirements of investors. After investigation, the company believes that its performance can support hard targets such as earnings per share. "In less than a month after referral, the two sides have established a cooperation agreement."

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< p > and the latest announcement of Chinese clothing also revealed that at present, relevant auditing and evaluation work has been preliminarily completed, and entered into the asset appraisal report and the internal deliberation procedure of controlling shareholders.

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