Two Home Textile Enterprises Are Ranked Top 100 Private Enterprises In Hubei

In September 4th, the fourth Hubei provincial private enterprises top 100 list, two textile enterprises stand out, and have won the gold medal list.

The two textile enterprises are Hubei Jing Tian cotton industry group limited and Hubei Xiao cotton industrial Refco Group Ltd.

Hubei Sedum

Industrial Group Co., Ltd. is a group enterprise that takes spinning as the core, and integrates cotton acquisition, processing, spinning, weaving, import and export trade into a cotton industry. The scale of spinning has reached 500 thousand spindles, and it is the largest cotton spinning enterprise in the province.

Hubei Xiao cotton industrial Refco Group Ltd is a diversified textile enterprise mainly composed of spinning and weaving. Now it has the scale of 400 thousand spindles of ring spinning. It is one of the backbone enterprises in Hubei's textile industry.

Fujian Nanfang is about to make up about 686 million yuan to set up wholly owned subsidiary to engage in textile business.

September 10th evening

The company intends to set up a wholly owned subsidiary, "Fujian Nanfang limited liability company" by the end of June 30, 2014, including the company's assets (including, but not limited to, all physical assets, such as machinery and equipment, inventory, land use rights, housing and other long term equity investments, related claims, debts, currency funds, etc.) (provisional name, subject to the final name approved by the administrative department for Industry and commerce, hereinafter referred to as "Nanfang company").

The total assets of the proposed Nanfang textile company are about 970 million yuan, the total liabilities are about 284 million yuan, and the net assets are about 686 million yuan.

After the establishment of Nanfang textile company,

With the principle of "business and personnel going along with assets", Nanfang textile company will be engaged in all the existing textile business of the company, and all the existing personnel corresponding to the above business will be assigned to Nanfang textile company. The existing qualification of the above business will be pferred to Nanfang company or separately from Nanfang spinning company.

The company's contribution to the establishment of Nanfang textile company is conducive to strengthening the business management after reorganization, rationalizing the company's management and control structure, and giving full play to the regional advantages of related businesses.