YOUNGOR'S Dream Of Making Money

< p > YOUNGOR started to produce "a" target= "_blank" href= "http://www.91se91.com/" > clothing < /a >, and then entered the real estate industry in a big way. At the same time, it also started to invest in the investment fields such as stock speculation and futures.

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< p > clothing, real estate and investment constitute the "three carriages" of the listed company in Ningbo.

Because of the large span of the three fields, YOUNGOR once carried the name of "not doing the right thing" in the capital market.

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While P has maintained its leading position in the same industry for a long time, YOUNGOR has also tasted its sweetness in the field of real estate and investment. In recent years, the real estate industry has contributed 600 million yuan annually, while CITIC Securities has brought more than 25 times the return on investment.

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< p > "invest well and make money for 30 years in the manufacturing industry."

This was the attitude of Li Rucheng, the head of YOUNGOR, in investing.

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< p > however, after 2010, YOUNGOR began to face the plaguing of "three carriages in a quagmire" - the overall sluggish clothing industry, the macro regulation and control of property constraints, and the repeated investment of "Waterloo" in the market downturn.

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Beginning in 2011, YOUNGOR realized that the "real estate market and the loss of financing function of the capital market" had publicly called out the slogan of "returning to the main business" in P.

But the environment in the clothing industry is far worse than before.

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< p > < strong > < < a target= "_blank" href= "http://www.91se91.com/ > > clothes > /a > making money is not easy" /strong > /p >

Last year, clothing brought more than 800 million yuan net profit to YOUNGOR, and nearly 9000 production workers and more than 10 thousand salesmen supported this "P" result.

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< p > YOUNGOR formerly known as a youth clothing factory team business.

In 1981, Li Rucheng, 30 years old, entered the clothing factory of the "original manual workshop" and made a tailor.

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< p > then, with the help of one's own efforts to save the garment factory in the fall of Li Rucheng, became director of the factory.

In 1990, the youth garment factory jointly established YOUNGOR with an enterprise in Macao.

4 years later, YOUNGOR began to make suits.

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< p > according to YOUNGOR's official website, the experience of "burning a suit" has laid the foundation of YOUNGOR's suit. A factory director, in the face of many workers, "gradually cut and dressed a batch of colored suits" and put them in a fire.

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< p > "YOUNGOR is the representative of China's first generation of men's wear brands."

Garment industry observer Ma Gang said.

Data show that as of 2012, the market share of YOUNGOR brand shirts and suits ranked first in 18 consecutive years and 13 years, and the gap between the second brands and the brand shirts was larger.

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< p > "do not belittle the clothing industry."

In 2011, Li Rucheng once said that the gross profit of shirts far exceeds that of new solar energy enterprises.

Last year, for example, the gross profit margin of YOUNGOR shirts was as high as 69.38%, and the gross profit rate of suits and sportswear was above 60%.

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< p > last year, apparel brought YOUNGOR's net profit of over 800 million yuan.

Over the past two or three years, YOUNGOR could get 700 million yuan net profit from the clothing sector every year.

"The cash flow of the clothing sector is very stable."

YOUNGOR manager Liu Xinyu said.

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Less than P, which supports this achievement, is nearly 9000 production personnel and over 10 thousand salesmen working in YOUNGOR.

They are distributed in all aspects of fabric, production, logistics and sales.

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< p > in improving the terminal retail links, YOUNGOR also has considerable manpower and financial resources.

In its annual report, it wrote that 303 new business outlets were established last year, and 654 decoration stores were set up.

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< p > "some outlets are for the purchase of property, and some are for rent, but the overall location is more appropriate."

Liu Xinyu said that the image of self owned stores and other outlets is related to the upgrading of YOUNGOR brand and the adjustment and management of logistics.

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< p > "it's not easy to make trousers and make clothes."

A Zhejiang boss once commented on YOUNGOR and Li Rucheng in the media. He understood Li Rucheng's "want to make quick money".

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< p > what we call "fast money" mainly refers to the two areas where Li Rucheng and YOUNGOR broke into the field: real estate and financial investment which have nothing to do with clothing.

In the many fields of these two masters, YOUNGOR has stirred up a "bloody storm".

It is a "king of land" and also a "stock king".

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< p > < strong > the profits of the real estate are several times that of clothing < /strong > < /p >.

< p > 2009, the property market was hot. The profits of YOUNGOR's three or four hundred people's real estate team were about 2.5 times that of tens of thousands of workers supported by the clothing sector.

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< p > "every enterprise is evolving.

It is no good that we invest in real estate by the money we earn from clothing.

This is the logic that Li Rucheng once thought of "garment factory building".

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< p > public information shows that YOUNGOR's entry into real estate can be traced back to 1992.

At that time, YOUNGOR did not start producing suits.

It has been reported that YOUNGOR has developed real estate because the "welfare housing allocation dominated era" foresaw "the broad prospects of the commercial housing market".

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Before and after 2000, with the help of "good relations with the local government," YOUNGOR developed high grade residential areas such as Hai Yi Garden and Donghai garden in Ningbo in P.

Among them, its development of the sea view garden is also known as the "landmark of Ningbo" and "the top luxury house".

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< p > data show that YOUNGOR's market share in Ningbo's main urban area has reached about 20%.

Such a high share is enough to make it a recognized "boss" in Ningbo's real estate sector.

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< p > Li Rucheng shouted the slogan of "finding the 10 billion place" in 2007.

This year, the supply and marketing of the real estate market were booming, and the prices of houses rose sharply.

The investment enthusiasm of capital to real estate is soaring. In that year, the investment in real estate development in the whole country increased by more than 30% over the same period.

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< p > at the same time, the real economic crisis has loomed.

The funds withdrawn from entities, especially the capital in Jiangsu and Zhejiang provinces, are wandering around to find opportunistic opportunities.

It is against this background that YOUNGOR has made efforts in real estate.

At the same time, in 2007, when the stock market hit 6000 points, with the success of equity investment, YOUNGOR started the "crazy land grab" tour of three cities in Hangzhou, Ningbo and Shanghai.

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In early 2007, after 76 rounds of bidding, YOUNGOR pulled out 1 billion 500 million yuan for Ningbo Huachen 9 block, equivalent to 7 million per mu P.

And the floor price of 6490 yuan / square meter was also surprised by the media as "sky high price".

At that time, the sale price of nearby buildings was around 6000 yuan / square meter.

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< p > July 2007, YOUNGOR first went through the 90 round of bidding, took 1 billion 476 million yuan to take the Hangzhou Institute of Commerce block, and won the "king of Hangzhou".

Two months later, it offered another 2 billion 130 million yuan to get three land from the Tong Tong.

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< p > 2010, YOUNGOR produced two kings in Shanghai and Hangzhou.

In September, after spending 3 billion 300 million yuan to win the Changfeng block in Shanghai, YOUNGOR later took two land in Hangzhou Shenhua with a total price of 2 billion 400 million yuan.

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Less than 5 years, YOUNGOR took only one item and spent nearly 20 billion yuan in P.

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< p > big real estate investment has brought a good time to YOUNGOR.

Take the 2009 hot property market as an example, YOUNGOR's real estate business has achieved a revenue of 5 billion 196 million yuan, with a net profit of 1 billion 191 million yuan, while the apparel sector with a revenue of 6 billion 905 million yuan during the same period has a net profit of only 445 million yuan.

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< p > create 445 million yuan < a target= "_blank" href= "http://www.91se91.com/" > textile < /a > clothing net profit, is YOUNGOR's tens of thousands of clothing workers.

The YOUNGOR real estate team has only three or four hundred people.

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< p > < strong > investment team contributed 50% net profit < /strong > < /p >

< p > real estate is faster than making clothes, making money faster than real estate is a good financial investment. Li Rucheng once said, "investment can make 30 years of manufacturing money at once".

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In P capital market, YOUNGOR once enjoyed the title of "stock king" and "subscription king".

According to the annual report, as of the end of last year, YOUNGOR held shares in 21 listed companies, such as Guang Bai, Hai Zheng pharmaceutical, CITIC Securities and so on. Among them, the shareholding ratio of the first, the broad shareholding and Jin Zhengda was 10%.

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YOUNGOR has benefited a lot from the operation of capital market at P.

Among them, the successful investment in CITIC Securities was a "myth" for investors and public opinion.

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In 1999, YOUNGOR invested 320 million yuan to become one of the main sponsors of CITIC Securities, P.

When CITIC Securities was put on the market, its stock price soared from the issuing price of 4.5 yuan, reaching a maximum of 115 yuan.

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Beginning in 2006, YOUNGOR began to reduce CITIC Securities several times. P

According to data, YOUNGOR has accumulated a total of 6 billion yuan by reducing its holdings of CITIC Securities.

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< p > it is reported that the success of CITIC Securities has made Li Rucheng, who has always been steady, "smile".

Li told the head of a consulting organization that he made costumes, "profits are accumulated bit by bit", but "investment can make 30 years of manufacturing money at once".

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< p > taking the 2007 stock market as a good example, YOUNGOR gained an investment income of 2 billion 754 million yuan by reducing stocks such as CITIC Securities.

By 2008, the net profit of investment has accounted for more than 50% of the total profits of listed companies.

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Less than P, it is the investment team of two or three people who achieve such huge profits.

At this point, investment has been regarded as the "least team but the most profitable" business by YOUNGOR, while tens of thousands of workers' clothing sector is "making the least money".

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< p > 2008, YOUNGOR worked with Chen Jiwu, a manager of the fund manager, to establish Kay stone investment.

YOUNGOR's investment business is entrusted to the more than 30 people's organization.

Kay stone investment will invest in the direction of targeted private placement and PE (private equity investment).

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Less than P, then YOUNGOR, with the help of Kai Shi investment, has no two in the field of fixed growth.

In 2009 -2011, YOUNGOR took part in more than twenty listed companies such as Suning Appliance [micro-blog] (5.04, -0.08, -1.56%), Dongfang Electric (10.50,0.10,0.96%), and Hua Lu Heng Sheng (5.85,0.17,2.99%), and invested in several PE projects.

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< p > to this end, YOUNGOR has spent more than ten billion yuan.

The return is that in 2010, YOUNGOR's financial investment business achieved a net profit of 1 billion 245 million yuan, accounting for 46% of the total net profit of listed companies, far exceeding clothing and real estate business.

Here, "China Buffett" and other auras were crowned on Li Rucheng's head.

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< p > < strong > last year the investment sector lost 231 million < /strong > < /p >.

< p > there is a saying that YOUNGOR's annual report first considers it an investment company, and then thinks it is a real estate developer.

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"P" YOUNGOR is often cited as a typical domestic enterprise.

In 2011, Li Rucheng responded to the "do not do business" saying that as long as it is suitable for enterprises, it is possible to do, "clothing, real estate and investment in three areas, I like, all are to do."

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"P >" according to his statement, YOUNGOR is feeding the clothing through the way of the grass boat, through the profits of the real estate and capital markets.

Li Rucheng once said that without real estate and investment, YOUNGOR would not have a net asset of 20 billion yuan.

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< p > catching up with the good situation, the "three carriages" go hand in hand and pull each other forward. It is indeed an ideal model.

But in some years, for example, in 2011, the property and investment in the two carriages were "quilt".

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< p > since 2011, it is known as the most stringent real estate regulation policy in history.

Suzhou, Hangzhou, Shanghai and Ningbo, which are located in YOUNGOR real estate, have introduced the restriction policy.

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The impact of < p > is obvious from YOUNGOR's financial data.

In 2011, YOUNGOR's real estate business achieved a profit of 3 billion 636 million yuan, down 46.94% from the same period last year, and the net profit fell by 15.86%.

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< p > a year later, although the real estate business revenue and net profit rose sharply by 40% and 70%, but the annual report shows that the inventory of YOUNGOR real estate is close to 22 billion yuan, accounting for 30 billion 900 million of the current assets, and the development cost of 15 real estate projects is about 30 billion 460 million yuan.

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Less than P, the outside world has repeatedly questioned YOUNGOR's possible involvement in capital chain tensions.

At the end of last year, news of the sale of YOUNGOR's properties was reported.

According to the Soufangwang data, the current price of West Lake sunny snow project is 22 thousand yuan / square meter, compared with 30 thousand yuan per square meter in August 2011, or nearly 30%.

Not long ago, in June 20th, YOUNGOR returned the Shenhua block at a cost of 480 million yuan.

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< p > real estate is sluggish, and financial investment is starting to worry.

In August last year, YOUNGOR and Kai Shi investment wanted to split up, and began to see the media.

The stock market downturn, YOUNGOR's investment business suffered "Waterloo".

It has been reported that in the first 10 months of 2011, YOUNGOR participated in the private placement of more than ten listed companies, of which 8 were losing money.

Many stocks held here are also locked up.

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The data in < p > annual report can more intuitively show that investment business is getting step-by-step.

In 2011, the net profit of YOUNGOR's investment sector was 487 million yuan, down 60.9% from 2010.

In 2012, the performance of the investment sector deteriorated further to a loss of 231 million yuan.

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< p > < strong > "strive for warmer winter than others" < /strong > /p >

< p > with the arrival of real estate regulation and stock market downturn, YOUNGOR has repeatedly proposed to return to the main garment industry in recent two years, "YOUNGOR's strength is still clothing".

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< p > "under the present circumstances, the difficulty of force clothing is increasing."

In the clothing industry observer Ma Gang, it seems that the current environment of the garment industry is far worse than before, "men's clothing brand competition is very fierce."

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< p > a clothing analyst of a brokerage firm said that the continuous downturn of the clothing industry is an indisputable fact. "No enterprise dares to say that they are better off".

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< p > "now the economic environment is not very good, clothing consumption is relatively low."

Liu Xinyu, deputy director of YOUNGOR, said that the clothing industry as a whole is spending the winter. What YOUNGOR needs to do is to use its "accumulated marketing network and brand image for many years" and "strive for a warmer winter than others".

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< p > at the same time, the annual report shows that as of the end of last year, YOUNGOR's clothing inventory was 1 billion 520 million yuan.

Liu Xinyu said that compared to about 4000000000 of sales, 1 billion 520 million yuan of stock is within the normal range, "and some of the clothing is used for display and shop floor in the exclusive store, not the clothes that can not be sold".

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< p > and in recent years, YOUNGOR has cultivated several young brands, Ma Gang believes that this market segmentation idea is worth trying, which helps YOUNGOR to attract consumers under 35 years old. "But a brand new brand from generation to market and consumer acceptance may take a long time".

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< p > as for the dependence on the real estate sector, it is still like an addiction to quit.

Even if the land fund of 480 million yuan had been "drifted" for a long time ago, real estate will still be one of YOUNGOR's main businesses.

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< p > according to Liu Xinyu's statement, "22 billion yuan of real estate inventory," can not just look at the data, but also depends on the scale of development and sales. "

Liu Xinyu said that at present, YOUNGOR's real estate business is selling well, and there is no price reduction.

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< p > "YOUNGOR does not have the problem of tight capital chain."

Liu Xinyu said that the sales refund is enough to support the subsequent development of real estate projects, "the clothing sector can also provide stable liquidity".

Liu said that YOUNGOR will also carry out land reserve properly.

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< p > < strong > extension > /strong > /p >

< p > < strong > "investment entities earn less than deposits" < /strong > /p >

< p > 5 years ago, there was a Li Rucheng's speech in the media. "Any investment should be grasped according to the direction of China's economic development."

At that time, YOUNGOR, under the direction of Li Rucheng, was busy with land acquisition and speculation.

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< p > 2007 and two or three years after that, it is suitable for the boom year of real estate in China, the supply and marketing of real estate is booming, and housing prices are soaring all the way.

Compared with the real estate boom, the real economy is suffering from the cold spell brought by the financial crisis.

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< p > data show that the profit margin of the real economy falls below 5%, while real estate can easily reach over 30%.

It is a true portrayal of this contrast that "opening thousands of factories is not as good as wife's real estate".

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< p > many capital fled from the real economy and entered the property market.

In 2009, there were more than 60 non real estate enterprises in the top 100 private enterprises list in Zhejiang.

YOUNGOR, AOKANG < a target= "_blank" href= "http://www.91se91.com/" > shoes < /a > industry, production of electrical AUX, as well as the apparel industry's peer, are listed here.

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< p > once Daniel's stock market is also a gold rush for some funds. Stock speculation has long been a "trend" of listed companies.

Statistics show that after 2007, the number of listed companies has been over 500.

Like YOUNGOR, the stock speculates holding more than ten stocks are common.

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< p > "real estate speculation in industrial enterprises is not conducive to the development of the real economy."

Last year, the Ministry of industry and Commerce officials said that in order to attract capital to stay in the real economy, measures such as reducing burdens and subsidies for small and medium-sized enterprises will be launched.

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< p > according to Zhou Dewen, President of Wenzhou SME Development Association, Wenzhou's private capital has little interest in the real economy.

Zhou Dewen said that with the recent years of real estate regulation and the stock market going to bear, some capital has fled from these popular fields.

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< p > "real estate and stock market can not be voted. We are also very cautious about private lending."

Zhou Dewen said that these escape funds could not find a better channel, but did not flow to the real economy, and the final destination was banks.

The reason for this is Zhou Dewen's "lack of confidence in the real economy".

According to his introduction, at present, the profit margin of Wenzhou's real economy is below 3%, and "investment entities are not as good as deposits".

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