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YOUNGOR Failed To Return To The Garment Industry

2014/2/24 9:17:00 101

IPO restart, many bitter enterprises repeatedly applauded, plus the rumor of the recent housing enterprises A shares refinancing is about to open the gate, so the real estate giants have taken the opportunity to increase the financing of the lively scene.

YOUNGOR is also one of them.

As early as before, YOUNGOR has repeatedly said that it has completed "a target=" _blank "href=" http://www.91se91.com/ "> clothing" /a "and real estate two major business segments organizational structure, system process and team carding, will strive to separate listing.

January 14th, YOUNGOR said, because the company is planning important matters, the company's stock suspension since January 15, 2014.

During the restructuring period, it has been rumored that it will make major asset restructuring with the founding of the University.

Just before the resumption of YOUNGOR, the first announcement of Shanghai's Zhuge Investment Development Co. Ltd. will take up 15.69% of the second largest shareholder of the group.

According to the insiders, YOUNGOR's asset restructuring is estimated to be the end of the first construction of the Industrial University by another shareholder.

indeed, in February 19th, YOUNGOR said in its announcement that the company decided to terminate the major asset reorganization and resume trading in February 20th.

Counterattack failed. Things were not as smooth as Li Rucheng expected.

Apart from P's first initiative, Li Rucheng's split listing plan is a counter trend.

In fact, in recent years, the SFC [micro-blog] and other relevant departments to control the financing of Housing enterprises to change the concept of housing prices has not loosened.

For the entire real estate business, YOUNGOR's restructuring over a period of more than a month ended in failure.

for this reason, the reporter has repeatedly called YOUNGOR's secretary of the board of directors office, the other side of the phone has been busy.

> strong > three carriages are weak. YOUNGOR has no choice but to return to the garment industry /p >

Less than P, YOUNGOR, which was made up of the garment industry, was once famous.

In 1998, after the listing of A shares, YOUNGOR also gradually jumped out of a single development mode and set foot in the real estate and investment industry successively. P

it is reported that YOUNGOR began to set foot in real estate development in 1992. The company has developed East Lake gardens, East Lake Xinyuan, Suzhou future city, Seaview Garden, Qian Lake Beverly, and other large projects in Ningbo and Suzhou, and has developed residential, villas, business buildings and other various industries.

In recent years, real estate projects have contributed nearly 50% to YOUNGOR.

Investment in P, CITIC Securities is a landmark event in the history of YOUNGOR investment. In 2007, this investment made the company gain considerable profits.

"P" later, YOUNGOR clothing, real estate, investment in three carriages parallel argument prevailed for a while.

however, with the increasing efforts of the state to control the real estate, YOUNGOR's pressure on the real estate business is increasing.

In addition, in terms of investment, YOUNGOR lost 231 million yuan in 2012.

All these factors forced Li Rucheng to turn back to consider his "three carriages".

2012, Li Rucheng announced that only the main garment industry is the most profitable, YOUNGOR will return to the garment industry.

At last, YOUNGOR has gone back to the right way. To a certain extent, it is a negation of the strategy of the three carriages.

from the perspective of the development trajectory after 2012, YOUNGOR has not completely let go of the two carriages beyond clothing, especially the real estate business with high return rate.

the real estate industry has been listed for a long time by Li Rucheng, /strong > /p >

Li Rucheng's idea of separating YOUNGOR from the real estate industry has existed for a long time.

as early as 2007, the spin off intention of the company was heard on the market.

Two years later, Li Rucheng took out 1 billion 700 million yuan of his own funds to restructure YOUNGOR's estate and increased the registered capital from 1 billion 500 million yuan to 3 billion 200 million yuan.

2011, YOUNGOR chairman Li Rucheng has publicly stated that YOUNGOR is working to break up the existing listed companies, the initial plan is to separate its real estate business from the current listed companies, and the financial investment business is ready to be divested into the parent company YOUNGOR group.

If we calculate from the time of entry, YOUNGOR is already a "veteran enterprise" in the real estate sector.

on YOUNGOR's achievements in the real estate industry, there is no doubt that Li Ru has succeeded.

it is reported that as early as in 2007, Li Ru, who was the head of the office, had spent 10 billion yuan on his money, and with 20 people's team, all over the country looked for things until the peak of YOUNGOR's real estate business in 2010, and the total amount of pre-sale was 11 billion 800 million yuan.

however, the sensitive period of real estate regulation is coming, and YOUNGOR's real estate business has also tasted bitter consequences.

In 2011, the real estate business plummeted. In that year, the total performance of about 3000000000 Yuan only accounted for 1/3 of the expected value, and Li Rucheng's plan to separate the listing of real estate business mentioned in that year has been shelved repeatedly.

Until P last year, YOUNGOR's performance was warmer, which added a little bit of support to the proposed listing again.

Starting in 2013, the performance of YOUNGOR real estate has increased significantly. In the first three quarters, the pre-sale volume has reached 10 billion 700 million yuan, exceeding the sales target of 10 billion yuan at the beginning of the year.

2013, YOUNGOR said many times in public, "the company has completed the two major business segments of clothing and real estate organization structure, system process and team carding, will strive to separate listing."

All kinds of information are saying that Li Rucheng is ready for the listing of real estate.

until the housing enterprises refinancing has signs of opening up, Li Ru is truly successful.

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suspension of the month after the resumption of Li Rucheng announced the failure of the reorganization

YOUNGOR announced on January 14th evening that the company's stock was suspended from January 15, 2014 because the company was planning major issues.

from the beginning of YOUNGOR's suspension and reorganization, it has been circulated in the bookstore that YOUNGOR and Technology University jointly initiate asset restructuring.

With the passage of time, this argument gradually began to be well etched by the industry.

indeed, in February 19th, the day before the resumption of YOUNGOR, the first announced that the Shanghai Ze Tian Investment Development Co. Ltd. will take up 15.69% of the second listed shareholders of the listed company.

According to the insiders, YOUNGOR's asset restructuring is over when its first initiative was taken over by another shareholder.

that evening, YOUNGOR said in its announcement that, in view of the complexity of the major asset reorganization matters and the difficulty coefficient, the conditions for promoting the major asset reorganization are not yet ripe. The company decided to terminate the major asset reorganization and resume trading in February 20th.

February 20th, when YOUNGOR resumed, it closed up to 7.3 yuan.

The first 19 days of the construction industry rose by 11.49 yuan on the 20 day, up 2.41%.

on this matter, the representative of YOUNGOR securities affairs replied that "the company's major asset restructuring is based on strategic considerations, and the first announcement of the labor force is only a coincidence in time."

"P." similarly, for the first time in Shanghai, the Ministry of securities and the Ministry of securities of YOUNGOR said: "first of all, we have no connection with the restructuring of the labor force. Secondly, our initial stake in the university is only financial investment, and there is no increase or reduction plan.

It is more complex for the first pioneering stock companies, and we will not comment more. "

the inevitable failure of YOUNGOR's reorganization: /p >

there are also different opinions on the real reasons for the failure of Li Rucheng's separate real estate listing.

on the SFC [micro-blog] side, since August 2010, although the CSRC did not expressly provide for the IPO and refinancing of A shares in real estate enterprises, it only indicated that the companies involved in land idle and irregularities were temporarily the same, but in practice, it has closed the door for refinancing to all enterprises involved in real estate business.

"P" is in the refinancing opening of the expected strong 2013, the attitude of the relevant departments is still firm.

The securities supervision department will suspend the approval of the listed, refinancing or major asset restructuring of the real estate development enterprises that have unused land and stir fry land, cover the plate for sale, and raise the price of house prices.

in short, the SFC's policy towards real estate enterprises has not been loosened.

in addition, for shareholders, YOUNGOR is undoubtedly more harmful than benefits.

YOUNGOR's three quarterly report in 2013 shows that the company achieved operating income of 11 billion 580 million yuan, of which the real estate business realized revenue of 7 billion 840 million yuan, an increase of 108.7% over the same period last year, and net profit of 910 million yuan, an increase of 66%. compared with the same period last year. In the first 3 quarters, < a target= "_blank" href= "http://www.91se91.com /" > brand clothing < /a > income increased 4.1% to 2 billion 930 million yuan, extending the trend of the first half of the year, and did not improve significantly.

data show that real estate business is replacing clothing business and becoming YOUNGOR's high-quality assets.

If the real estate business is divestiture, it will undoubtedly damage the interests of investors.

Industry insiders speculate that this may be the real reason why the spin off scheme can not be established.

By P, Li Rucheng may reconsider the plan of separate listing.

Analysts believe that YOUNGOR is not expected to introduce separate listings in the short term.

But in Li Rucheng's mind, the next time node may not be far away.