YOUNGOR's Spin Off Is Expected To Be Rekindled.

Housing enterprises A shares refinancing gate information touches the sensitive nerve of capital market. YOUNGOR has repeatedly said that it plans to separate the real estate development business from listing.

This house takes Brand clothing Listed companies for the main industry announced the performance of the past year in the evening of March 24th. The 2013 annual report shows that the main business of the company's brand clothing has been stable. Only the real estate development of the "carriage" has made rapid progress, achieving a revenue of 9 billion 865 million yuan, almost two times that of last year. After deducting non recurring gains and losses, the net profit was 1 billion 638 million yuan, a 74.32% increase.

The real estate development sector is beautiful, and the news of refinancing of A shares in the housing sector is endless. This makes investors' anticipation of YOUNGOR splitting and listing is rekindled.

"The company has always had that idea." A four year old investor holding YOUNGOR shares believes that the last major asset reorganization should be the case. Youngor In response to the twenty-first Century economic report, the Securities Department responded, "the environment for corporate finance has indeed been released. Is there any need for the company to discuss the decision?"

Since its listing in the Shanghai Stock Exchange in 1998, YOUNGOR's main business has changed several times, from the original garment manufacturing to real estate development, and eventually formed the pattern of "three carriages" of brand clothing, real estate development and investment.

As the company's main business, YOUNGOR's brand clothing sector has been developing steadily, operating revenue has increased year by year, and realized revenue of 4 billion 270 million yuan last year, an increase of 4.57% over the same period last year. In 2012, it achieved a revenue of 4 billion 83 million yuan, an increase of 11.37% over the same period last year.

In 2012, although the entire garment industry overcapacity and slow demand, YOUNGOR still achieved good results, achieving a profit of 818 million yuan, an increase of 18.47% over the same period last year. By 2013, the company said that the price of branded apparel was 643 million yuan in 2013, down 21.37% from the same period last year, due to various factors, such as rising labor costs and increasing income tax burden.

" clothing The decline in demand also has a big impact on the company. " A Beijing apparel industry researcher thinks that YOUNGOR lacks a new profit growth point in the brand clothing sector.

Once the scenery is infinite. Investment The plate also suffered "Waterloo" in 2012, losing 231 million yuan in that year. And since the decline has continued, the fair value of some investment projects in 2013 has declined considerably. YOUNGOR has prepared 427 million yuan for the value of its assets in the Sino Gold gold and Shanxi coal shares, resulting in a net loss of 489 million yuan in the current period.

Only the real estate development business has ushered in new vitality. Last year, the total operating income reached 9 billion 865 million yuan, an increase of 91.27% over the same period last year, almost doubled. If the non recurring gains and losses were deducted, the company realized a net profit of 1 billion 638 million yuan, an increase of 74.32% over the same period last year. Investors are also rekindling expectations for YOUNGOR's split listings. "The company has always had this idea, the last reorganization should be this, but it is very difficult for the SFC to approve it, not the company can do it." The investors who held YOUNGOR stock for more than four years said.

In fact, as early as 2007, there were rumors in the market that YOUNGOR would spin off the stock market, but there was no clear message. Two years later, chairman Li Rucheng took out 1 billion 700 million yuan of his own funds and reorganized YOUNGOR's real estate investment platform YOUNGOR home, increasing the registered capital from 1 billion 500 million yuan to 3 billion 200 million yuan. It also said in 2012 that YOUNGOR was working on its spin off. The initial plan was to separate the real estate business from the listed companies, and the financial investment business was going to be divested into the parent company YOUNGOR group. But there was no practical action at that time.

In January 14th this year, YOUNGOR said the company was planning major issues, and the stock was suspended from January 15th. Meanwhile, a number of media quotes people familiar with the matter as saying that YOUNGOR may reorganize its assets with 600857.SH, a controlling subsidiary.

However, just before the resumption of YOUNGOR, the first day of the construction industry suddenly announced that Shanghai zhe Tian Investment Development Co. Ltd. will take up 15.69% of the second largest shareholder of the group. The next day, YOUNGOR announced that the company decided to terminate the reorganization of the major events, and the market is expected to break down the listing of YOUNGOR.

"For the whole Real estate The environment for corporate finance is liberalized. As for whether the company has such a demand, it is necessary for the board to discuss the decision. The above YOUNGOR securities sources said that the company's Thoughts on the real estate development sector could be limited to the disclosure of annual reports.

YOUNGOR's investors believe that even letting go is not immediately approved. "Apart from splitting up, there is only one country before the split of the stock market in China, which is state-owned assets, and private capital should be split. It is more difficult to get a shell for free, and it can only be borrowed again." The investor said.