Listed Textile Companies Sell Frequency Loss Control Rights

Recently, listed companies in China clothing The Limited by Share Ltd issued a notice of takeover report, officially confirming the 100% stake of Hubei Yang Feng shares and Yang Caixue's 45 natural persons, Xinyang Feng fertilizer Co., to inject into the company. At this point, Yang Feng shares become the controlling shareholder of listed companies.

Not long ago, China energy saving Haidong Qingxin new material group was selected as the largest shareholder of Chongqing Energy Saving Industrial Co., Ltd., and Chongqing's energy conservation once again guaranteed its control.

list Spin Enterprises are frequently held, reflecting the textile industry. Garment industry The overall downturn and the decline in traditional business.

Sale of shares

Frequency loss control of spinning enterprises

Following the announcement of the preliminary plan in March this year, Chinese clothing Restructuring has always been a concern for the industry.

According to the summary of the takeover report disclosed by Chinese clothing, after the completion of the reorganization, Yang Feng shares will hold 290 million shares of Chinese clothing, accounting for 48.24% of the total share capital issued by China's clothing industry, and become the controlling shareholder of the listed companies. At this point, Chinese clothing will be transformed from state-controlled listed companies into private enterprises. In terms of business, its main business will also shift from the previous textile printing and dyeing and textile trade business to the development, production and sale of phosphorus compound fertilizer.

According to public information, Chinese clothing is a leading textile and garment industry. Its brand marketing, industry consulting, clothing, fabrics, printing and dyeing, cashmere and so on are listed as one of the companies. Its annual sales revenue reached a maximum of nearly 2 billion yuan in 1999.

At present, the leading textile industry has been bought, and it has come to a close. The real progress of this dust settles the local textile industry.

"It means shelling and being backdoor listed. Chinese clothing is completely divorced from the textile industry and turned into the fertilizer industry. mainland textile industry Insiders sigh.

Another incident that brings the industry's nerve is from local enterprises, China's energy saving Haidong.

A few days ago, China energy conservation Haidong single largest shareholder in Chongqing energy savings through a wholly-owned subsidiary - Hongkong Rong an investment limited, and another major shareholder Yan's Brothers Holdings Limited, a 3 year shareholder contract. Although the founder of the company stuck to Jiang and Nian Weicheng brothers remained 25.09% of the shares, there was no chance to challenge the largest shareholder status in Chongqing during the contract period.

And similar events, many people in the industry believe that perhaps in the near future will be staged in the industry. Giving up the position of the largest shareholder has stirred up a long-standing psychological obstacle for the Minnan Enterprises: the control of control has led to a series of speculation in the industry.

"Business owners in Southern Fujian have long been" better off "than" Phoenix Tail ". If they do not encounter certain bottlenecks, they will not give up control of the company. And two enterprises have retired to the second place, which shows that the development of traditional textile enterprises has encountered unprecedented difficulties. Mr. Deng, a senior executive in the textile industry for over ten years, said.

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Low performance

Acquisition phenomenon or continuation

Behind the frequent release of control is textile. Garment industry The overall downturn and the decline in corporate performance.

Last week, the company reported its results. In the first half of 2013, the group's income was about 3 billion 116 million yuan, up 4.8% from the same period last year, while the profit margin reached 242 million yuan, down 38.7% from the same period last year. Its profit in 2012 was 750 million yuan, down 16.94% year on year.

Chinese clothing is also poor. 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. In 2012, the company's revenue 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. At the same time, inventory reached 245 million yuan at the end of 2012, accounting for 20% of total assets.

The decline in performance is due to a decline in gross margins due to the overall downturn in the industry. The main reason for the decline in gross revenue and net profit is the decline in gross margins, the industry said. Its main business polyester filament products and polyester film products production and sales, the first half of this year, the main raw materials PTA and MEG market prices have declined, resulting in polyester filament products prices follow their raw material prices. In addition, the fierce competition in the market has led to an increase in gross profit margins and relative selling costs.

Xincheng textile, weaving, weaving and other enterprises have said that due to the sharp rise in rents and human capital and high inventory, the domestic garment industry is experiencing a relatively serious downturn. The upstream textile industry has been most directly affected, and many small spinning enterprises have serious losses in orders.

"Prior to the market Textile enterprises Too much and too much decentralization is a normal process of collecting high-quality resources and eliminating backward production capacity. This situation will continue for some time, and the phenomenon of acquisition and backdoor will also appear frequently. In particular, enterprises that mainly produce conventional textiles will disappear from the market without timely transformation. " Mr. Deng thinks.

　 With the advantage of production technology

Local enterprises compete for central enterprises

In addition to the initial communication, from the March plan to the end of July, the announcement of the takeover announcement was made by Chinese apparel and Yanfeng shares for 5 months. It is understood that China's energy conservation in Chongqing energy saving Haidong and Bai Hong industries, during which they have experienced more than a year of communication and research.

The industry believes that for both sides, every negotiation in this period is an invisible contest and game. "How much initiative can the original major shareholders have?" Jinjiang government officials believe that.

In addition to buying shares in China's energy saving Haidong and Bai Hong industries, China energy conservation and environmental protection group, the parent company of Chongqing energy conservation, is investing in new material companies in Nanan. Its appearance frequently appears in the industry chain related to Quanzhou's manufacturing industry, and ambition can be seen.

Fortunately, local Textile enterprises With its own advantages, it guarantees certain initiative.

At the time of the purchase of China's energy saving Haidong Qingdao, Chongqing's energy conservation position was not intended to make significant changes to the existing operation and business of China's energy saving Haidong due to share offer, or to reconfigure fixed assets and employees, nor to purchase or sell its assets or businesses. China energy conservation Haidong also responded that the founder's brother's stake will not change, and will continue to focus on the new material business in the future.

According to a person familiar with the situation, the highly controlled central enterprises concession is mainly due to the energy efficiency of Haidong.

"After many years of development, our textile enterprises have certain advantages in production and technological research and development. This is the main reason that can be favored by central enterprises and equal dialogue with central enterprises. " Analysis of the above government departments.

These people believe that cooperation with the central enterprises is a strong alliance, which is an opportunity for local enterprises to transform and upgrade.

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Related links

The "shelling" incident of the national textile enterprises

The main business is completely changed and "backdoor" textile enterprises do not stop. Chinese clothing One family.

Beginning 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, and SKYWORTH digital of SKYWORTH digital will also acquire backdoor listing by Huarun Huarun.

In addition, the Tianshan textile, the main wool textile business, has embarked on the road of reorganization since 2010. It has proposed to the SFC a new plan for the purchase of the stock of Xi Tuo mining, which is to expand its main business into mineral resources development and production.

The de cotton share was transformed from a cotton textile enterprise into a real estate enterprise in 2009, and the Shanghai love family Klc Holdings Ltd's love family court has also been listed through its capital injection.

Take Huarun Jinhua as an example. Since 2010, the company's total business revenue has hardly increased, and 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.

From the recent half year results released 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 yuan.