Industrial Textiles Enterprises Consider Financing Channels Under The Most Stringent Trial System.

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< p > in this year's history, the most stringent "a href=" http://www.91se91.com/news/index_q.asp "> the trial system < /a >, more than 268 enterprises have terminated the examination, including a group of industrial a target=" _blank "href=" http://www.91se91.com/ "> textile" /a "products, including Zhejiang new material Limited by Share Ltd, Suzhou Long Jie special fiber Limited by Share Ltd and so on.

The SFC has not yet carried out the second batch of spot checks for listed companies, and the 666 companies waiting for trial still need to undergo the financial test of semi annual reports.

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< p > from the various reasons of the current a href= "http://www.91se91.com/news/index_cj.asp" > IPO < /a > interception, performance decline, environmental protection is not up to standard and growth worrying is the reason for more concentration.

Industrial textile enterprises, which are in the high value-added zone of the industry, have been considered to be the sub sectors that are easy to pass through the listing of audits, the stock price is rising and the market potential can not be underestimated.

Now these enterprises have begun to focus on rectification and prepare for the final sprint after a painful period of reflection.

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< p > at the same time, there are also some industrial textile enterprises are making long-term plans for entering the capital market in the past 5~8 years. What they see is the convenience of financing channels brought by the listing, as well as the employee benefits and the convenience of company value assessment brought by the public pricing.

In addition to contacting private equity and other investment institutions, they are also developing new products and new markets in areas such as recycling of waste fibers and self-sufficiency of domestic high-performance fibers.

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< p > it is worth pondering that there are also a number of industrial enterprises that are totally unmoved in the bait before listing. Compared with their values and sense of happiness, the so-called "management standard" brought about by the listing is nothing less than passive and binding. The high cost input before and after the listing is temporarily irrelevant, and they may encounter a hostile takeover attack.

It can not be denied that behind this industry textile enterprise's own vision and awareness is not in place. They have not found a good match point between the accumulation of enterprise assets and the accumulation of social wealth. Of course, they do not exclude the risk factors which are latent in the capital market itself.

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< p > 01 the huge performance gap led to the clearing of shares of Nong Yin International > /p >

< p > Jiangsu Hengli Chemical fiber Limited by Share Ltd has set foot on the IPO tour. It has accepted the publicity of environmental protection verification.

All the signs inside the company were changed into "Hengli shares" and two shareholders' meetings were held.

However, due to the excessive number of IPO queuing companies, PE began to seek to withdraw from the Pre-IPO market. The original shareholder Nong Yin international listed publicly at the end of last year.

In addition, the company intends to issue 400 million shares of RMB common stock and carry out the construction of "functional differential fiber project" and "composite fiber project".

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< p > before the restructuring and listing, the company has only two shareholders of Jiangsu Hengli Group and Hongkong Decheng Li International Group. Since the company's listing, a lot of PE has entered as strategic investment.

In addition, the company's industry was depressed last year. Financial data show that as of October 31, 2012, the company's net profit was only 221 million yuan, while the net profit of 2011 had reached 1 billion 300 million yuan.

Such a sluggish market and huge performance gap, or ultimately prompted the agricultural bank international clearing company equity reasons.

/p, vice president of Jiangsu Hengli Chemical fiber Limited by Share Ltd.

< p > 02 because of environmental protection verification part of the index is not up to standard listing was rejected < /p >.

< p > the name of Limited by Share Ltd, Zhejiang's new Limited by Share Ltd, was officially changed to "new material Limited by Share Ltd", and became the first foreign Limited by Share Ltd in the city.

The company intends to raise 1 billion 780 million yuan in the A share market IPO, mainly to invest in "300 thousand tons of differentiated polyester industrial fiber project".

The project has been approved by the EIA recently.

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< p > environmental protection verification report issued by Zhejiang provincial environmental protection department shows that although there has been no serious environmental pollution accident in the past 3 years, there are obvious deficiencies in pollution prevention and control, and many indicators in the reporting period do not meet the relevant requirements.

The amount of company's wastewater exceeded the discharge permit in 2011. The reason for exceeding the standard is that the pollutant emissions in this year are converted into annual emissions according to the first half of the year's emissions, while the first half is usually the peak season.

In addition, SO2 emissions exceed pollutant discharge permits throughout the verification period.

Some of the company's indicators have not met the above requirements, and are now working hard to improve them.

- Zhejiang GC new material Limited by Share Ltd manager Wen Guo Qi, < /p >

< p > 03 annual report data decline does not meet the SFC review standard < /p >

< p > Suzhou Long Jie special fiber Limited by Share Ltd has experienced serious losses due to the rapid changes in the market environment and the outdated management concept.

With the concern and support of the Zhangjiagang municipal Party committee and the municipal government, the Suzhou Long Jie special fiber Limited by Share Ltd was established through thorough restructuring.

The company has proposed the initial public offering of stock recently, and has received the guidance from Guoxin Securities Limited by Share Ltd, and has conducted the guidance registration for the Jiangsu Securities Regulatory Commission of China Securities Regulatory Commission.

In addition, the company's cleaner production audit has reached the acceptance conditions.

At present, the prospects for listing are not optimistic.

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< p > the reason for the withdrawal of IPO is that the SFC has intensified the financial examination of listed companies.

Many of the original IPO prospectus draft report defective, and the 2012 performance decline of enterprises have no choice but to retreat.

Enterprises have not yet been listed, there should be some problems, especially because last year's economic situation is not good, enterprises in 2012 earnings data is not very good, so failed to meet the relevant requirements of the listing.

Yang Jianming, manager of Suzhou Long Jie special fiber Limited by Share Ltd, < /p >

< p > 04, aiming at the incomplete business system, reducing PPS's capacity to raise investment < /p >

< p > Jiangsu Xinzhong environmental protection Limited by Share Ltd applied for A share listing at the end of 2010, but finally ended up.

At present, the environmental verification of listed companies has entered the public notice period.

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< p > the main reason for the first time is whether the business system of the company is incomplete and its independence is seriously deficient.

The company's actual controller at the same time control the main business is PPS resin Xinsheng company.

According to the existing capacity of PPS fiber products and the new capacity of the project, the PPS resin demand will exceed or exceed the PPS resin production capacity of Xinsheng company.

However, Xinsheng company has not been included in the main body of listing, which is inconsistent with the provisions of the fourteenth and nineteenth articles on the management of IPO and listing.

Today's verification disclosure does not reveal the company's recruitment projects, namely, the annual production of XLDM bag type dust removal equipment 150 sets (sets) project and "annual production of polyphenylene sulfide (PPS) fiber 1000 tons".

The company has reduced the production capacity of PPS fiber, which can be said to draw lessons from the last defeat so that the capital market can be successfully landed.

Chen Song, /p, general manager of Jiangsu Xinzhong environmental protection Limited by Share Ltd.

< p > 05 after the end of the tutorial period, the stock issuing application can be put forward < /p >.

The Limited by Share Ltd chose to go on the market at this time. First, because of the development of enterprises to the present stage, the two time is that although the environment of the whole textile industry is not very good, the impact on the enterprises is very small. Three, the company got the support of the municipal government. The financial office of Dezhou County focused on screening 50 high-quality enterprises, set up the resource base of the listed enterprises at the county level, implemented dynamic management, and helped listed companies to solve the formalities of business, land and environmental protection, and actively coordinated and helped enterprises solve the difficulties in the process of restructuring, and introduced private equity funds and other issues.

In December 15, 2012, the company completed the guidance and record in Shandong securities regulatory bureau, which marked the significant progress of Hongxiang chemical fiber listing.

The company has completed the share reform recently and entered the counselling stage of the listing, and renamed Shandong Hongxiang Chemical Fiber Group Co., Ltd. as "Hongxiang new material Limited by Share Ltd".

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