China'S Clothing Restructuring Has Made Substantial Progress In Recent Days.

< p > 27 this month, China's < a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > issued the takeover report, intends to carry out the assets replacement project and assets appraisal report, formally affirmed the way of asset replacement, put all the assets and liabilities of Chinese clothing out, and injected 100% equity interest of Xinfeng Feng, a 45 natural person held by Yang Feng shares and Yang Caixue, into the listed company.

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< p > in addition, Chinese clothing will also issue 344 million shares to 45 natural persons, such as Yang Feng shares and Yang Caixue, in order to purchase the difference between their respective assets and assets.

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After the completion of the paction, the company will hold 290 million shares of China's clothing shares, accounting for 48.24% of the total share capital of China's clothing, and become the largest shareholder. Chinese clothing will also become a private enterprise from state-controlled listed companies.

In terms of business, the main business of Chinese clothing will also be pformed from the former a target= "_blank" href= "http://www.91se91.com/" to "textile" /a "printing and dyeing and textile trade business to the development, production and sale of phosphor compound fertilizer.

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< p > loss repeatedly Chinese clothing "shelling" < /p >

Before the announcement of the takeover report, Chinese clothing has just released its semi annual performance forecast for 2013. It is estimated that the net loss attributable to shareholders of Listed Companies in the first half of this year is 25 million yuan ~3000 million yuan.

The deficit was 18 million 905 thousand and 400 yuan in the same period last year.

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< p > 2012, China's clothing business income was 1 billion 565 million yuan, down 11.82% compared with the same period last year. The net loss attributable to shareholders of listed companies amounted to 44 million 174 thousand and 800 yuan, a 1608.32% decrease compared with the same period last year.

At the same time, inventories at the end of 2012 increased by 10.13% compared with 2011, reaching 245 million yuan, accounting for more than 20% of total assets.

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"P", with high inventory and poor performance, Chinese clothing in the predicament began to find a way out. The acquisition of Yang Feng shares is not the first attempt.

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< p > Xinyang Feng fertilizer Co., Ltd. was founded in 2004. It is a large-scale phosphate chemical enterprise with high concentration of compound fertilizer as its leading product. Its total assets are 5 billion 500 million yuan and annual output is 5 million 400 thousand tons of phosphorus compound fertilizer.

In recent three years, the profit of Xinyang Feng fertilizer industry is 382 million yuan, 476 million yuan and 371 million yuan respectively.

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< p > but it is worth noting that Yang Feng shares did not import attractive and valuable phosphate assets into Chinese clothing.

By the end of February this year, Xinyang Feng fertilizer industry will pfer all of the 100% stake in Xinyang mining industry to the foreign group.

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< p > at present, there are 9 wholly owned and shareholding companies in the new Yang Feng fertilizer Limited by Share Ltd, which are mainly responsible for the production and sale of the downstream of the phosphate compound fertilizer industry.

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< p > performance downturn, textile enterprises frequently "backdoor" < /p >

< p > the main business is completely changed and "backdoor" textile enterprises are not just Chinese clothing companies.

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< p > from the beginning of this year, Huarun Jinhua, the main spinning and weaving company, began issuing a notice that the company will restructure its assets through the sale of assets, replacement and issuance of shares to buy assets, and SKYWORTH digital of SKYWORTH digital will also acquire backdoor listing by Huarun Huarun.

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Besides P, Tianshan textile, the main wool textile business, has also embarked on the road of reorganization since 2010. It has issued a preliminary plan to the securities and Futures Commission for the purchase of the stock of Xi Tuo mining in the third place, aiming to expand its main business into mineral resources development and production.

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< p > de cotton shares were pformed from cotton textile enterprises into real estate enterprises as early as 2009, and Shanghai love family Klc Holdings Ltd's love family court has also been listed through its capital injection.

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Behind the frequent occurrence of "P", "backdoor" is the overall downturn in the textile and garment industry and the decline in corporate performance.

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< p > take Huarun Jinhua as an example. Since 2010, the total revenue of the company has hardly increased, and its net profit has dropped rapidly from 82 million 40 thousand yuan to 3 million 530 thousand yuan.

Similar to Chinese clothing, Tianshan textile lost more than 1300 yuan in 2012.

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< p > from the recently published semi annual performance in 2013, the net loss of textile enterprises such as blue tripod holdings, Vico essence, San Mao Pai Shen and other textile companies exceeded 10 million yuan, and the losses of Changshan's shares even reached 34 million ~3600 million yuan.

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"P," director Lin Yi fan, director of brand research center of brand consultancy, told us that due to the sharp rise in rents and human capital and high inventory, the domestic garment industry is experiencing a more severe downturn. The upstream textile industry has been most directly affected. He said, "this situation will continue for a period of time, and the phenomenon of acquisition and backdoor will also appear frequently."

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< p > people in the industry pointed out to reporters that the number of textile and garment enterprises in the market was too large and too dispersed. The change now is just a normal process of collecting high-quality resources and eliminating backward production capacity.

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