600 Million Investment In Shangqiu

< p > 9 Mu Wang intends to invest about 600 million yuan in the construction of Liang Yuan Industrial Agglomeration Area in Shangqiu. < a target= "_blank" href= "http://www.91se91.com/" > clothing /a production base, e-commerce and product exhibition center, training center, logistics center and supporting projects.

However, from the planning of Liang Yuan Industrial Agglomeration Area, the leading industry is aluminum product processing and modern medicine.

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< p > "to set up a subsidiary company in Shangqiu, and to invest 6 hundred million, I do not know what the king of nine thinks."

When he saw the announcement of the establishment of the Henan subsidiary by King Mu, Mr. Cai shook his head repeatedly.

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< p > as a brand clothing enterprise founded in Fujian, the investment of 9 Mu Wang in different places was very prudent.

Its 5 subsidiaries are registered in Fujian except for the registered investment management company of Hongkong.

This time, the company chose to invest in thousands of miles away to establish subsidiaries in Shangqiu.

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< p > < strong > is not the key industry direction of Liang Yuan Industrial agglomeration zone < /strong > /p >

< p > recently, nine Mu Wang signed an investment agreement with the people's Government of Liang Yuan, Shangqiu, Henan province. The production of the nine Mu Wang clothing production project includes the construction of clothing production base, e-commerce and product exhibition center, training center, logistics center and supporting projects.

The company plans to invest 100 million yuan in cash, and set up a subsidiary company in Liang Yuan, Shangqiu, Henan.

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< p > 2012 annual report shows that the company's subsidiaries include Ou Ruibao (Xiamen) investment management company, Mars (Xiamen) investment management company, nine Mu Wang retail investment management company, Quanzhou nine Mu Wang dress fashion company, Xiamen nine Mu Wang investment development company.

In addition to the registered capital of Xiamen's nine Mu Wang investment and Development Co., which reaches 300 million yuan, the other companies have registered capital of less than 100 million yuan.

Except for the registered investment management company in Hongkong, the rest are in Fujian province.

The establishment of a subsidiary in Shangqiu, Henan, is not a key sales area, and the amount of investment is huge. According to the company announcement, the total investment amount of the project is about 600 million yuan.

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< p > to reporters' questions, the staff of the office of Securities Affairs Office of the nine Mu Wang said that Shangqiu city of Henan province is located in the Central Plains, with obvious location advantages, convenient pportation and communication, and abundant labor resources. The Shangqiu people's Government of Henan City, Shangqiu Province, has provided a preferential policy for supporting the construction of the industrial agglomeration area in Liang Yuan district and in the construction, finance and taxation.

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< p > Shangqiu, with the support of "the source of three businessmen and the capital of Chinese businessmen", was once the capital of the Shang Dynasty. It has a long history, but after all, the situation has changed. Data show that 2012 Shangqiu GDP is only 141 billion 830 million yuan, ranking only ninth in Henan province.

The Shangqiu city Liang Yuan Industrial Agglomeration Area, which is located in the western part of Shangqiu Liang Park, has a total planning area of about 30 square kilometers.

The industrial park area of Liang Industrial Park is planned to be the two leading industries of aluminum products processing and modern medicine. The development plan is divided into 6 functional zones: Aluminum Industrial Park, pharmaceutical industrial park, small and medium enterprises Pioneering Park, agricultural and sideline products processing park, business logistics area and comprehensive service area.

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< p > it can be seen that the "a target=" _blank "href=" http://www.91se91.com/ ">" /a "a target=" _blank "href=" target= "> clothing > industry and clothing industry is not the key development direction of Shangqiu Liang Yuan Industrial Agglomeration Area.

In response, staff members of the nine Mu Wang Securities Affairs Office explained that Liang Yuan is a national commodity cotton base and an important agricultural and sideline product producing area. It is rich in cotton, forming five leading industries of grain, cotton, oil, vegetables and fruits. Its high count cotton yarn and other products have entered the international market. Textile has become one of the four pillar industries of Liang park.

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Liang P as a cotton producing region and the main business of the company can have some relations. But in fact, the output of cotton in the whole province of Henan is only fifth in the whole country. Moreover, from the planning of Liang Yuan Industrial Agglomeration Area, the leading industry is aluminum product processing and current generation medicine, so the explanation of nine Mu Wang is far fetched.

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< p > < strong > most of the subsidiary companies are losing new companies or will be dragged down < /strong > /p >

< p > in fact, the 5 subsidiary companies established by the company are not operating well, and the total losses in 2012 amounted to 30 million 17 thousand and 900 yuan.

Among them, Maas (Xiamen) investment management company lost 15 million 780 thousand and 600 yuan, and Xiamen nine Mu Wang investment development company lost 19 million 393 thousand and 800 yuan.

Mars (Xiamen) Investment Management Co., Ltd. is specifically responsible for the operation of the company's "FUN" brand, because the brand is still in the trial operation stage, the sales scale is small; Xiamen nine Mu Wang Investment Development Co., Ltd. is responsible for the operation of the Xiamen operation center building and the E-commerce business of Jomoo king.

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< p >, will the establishment of Henan subsidiary become a new drag on the company? < /p >

< p > the staff member of the nine Mu Wang Securities Affairs Office said that because the project cycle is longer and the benefits will take longer, the company will actively pay attention to the progress of the matter, and invest funds and control risks according to the progress, so as to ensure that the performance of Henan subsidiaries has no significant adverse impact on the whole company.

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< p > from the company's answer, we can see that in the short term, the Henan subsidiary is mainly in the stage of cost input, and it can only guarantee that "the whole company does not produce significant adverse effects".

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< p > < strong > market sluggishness and income tax preferential expiry affect the performance < /strong > /p >

< p > 9 Mu Wang 2013 quarterly report shows that the company achieved revenue of 700 million yuan, an increase of 4.70% over the same period, and the net profit attributable to parent company was 191 million yuan, down 8.22% compared to the same period last year.

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< p > Wang Wei, an analyst with China Merchants Securities, said that under the background of the economic downturn, the company's performance growth was under pressure. The income has slowed down since the three quarter of last year. Although the growth rate of net profit in 2012 still maintained relatively fast growth in the industry, the negative impact of the preferential income tax expired in the first quarter was negative.

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< p > in the face of the sluggish retail market, the company increased its support for the high quality franchisees, relaxed the credit policy of the franchisee, relieved the inventory pressure, and increased the receivables in 2012 by 105.65% to 244 million yuan, and the scale of accounts receivable increased to 278 million yuan in the first quarter.

Accounts receivable surges into potential financial risks.

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< p > "we believe that in the current market environment, due to the lack of confidence of the franchisee in the future market, it is expected that the autumn and winter orders will be negative in 2013. At the same time, considering the slow growth of orders in spring and summer in 2013, and the income tax concessions have not been approved, this year's performance is expected to be rather dull."

Wang Wei concluded.

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