Zhou Chengjian Plans To Reduce His Shareholding In Meibang Clothing Again

Here in the world Clothing shoes and hats The editor of www. meibang. com introduced that Zhou Chengjian planned to reduce his shareholding in Meibang Clothing again.

Shanghai Huafu Investment Co., Ltd. (hereinafter referred to as "Huafu Investment"), the controlling shareholder of Shanghai Metersbonway Clothing Co., Ltd., plans to reduce its holdings through block transactions in the next six months, with the amount not exceeding 10% of the total equity of Meibang Clothing.

The clothing industry is suffering from sluggish sales and high inventory

Shanghai Huafu Investment Co., Ltd. (hereinafter referred to as "Huafu Investment"), the controlling shareholder of Shanghai Metersbonway Garments Co., Ltd. (Meibang Garments, 002269), plans to reduce its holdings through block transactions in the next six months, with the amount not exceeding 10% of the total equity of Meibang Garments. The actual controller of Huafu Investment is Zhou Chengjian, the founder and chairman of Meibang Clothing. At yesterday's closing price of 10.21 yuan, Huafu Investment could cash out about 1 billion yuan in this reduction of Meibang Clothing.

The six-month non reduction commitment expires

Based on the total capital stock of 1011 million shares of Meibang Clothing, 10% of its shares are about 100 million shares. Under the influence of the reduction announcement yesterday, Meibang Clothing fell 2.58% yesterday, and its share price has fallen for five consecutive trading days after two consecutive days of massive increases on September 15 and 16. It is worth noting that the reduction of holdings was started at this time, which coincides with the expiration of the six-month non reduction commitment.

As of September 22, 2014, Huafu investment It holds 709.4 million shares of Meibang Garments, accounting for 70.17% of the total capital stock of the company. All of the above shares are non tradable shares. Hu Jiajia is the daughter of Zhou Chengjian. As of June 30 this year, Hu Jiajia still holds 90 million shares of Meibang Clothing, accounting for 8.96% of the total share capital.

Yesterday's announcement did not explain the reasons for the reduction of Huafu's investment. However, the clothing industry in which Meibang Clothing is located has not had a good time in recent years. Under the impact of e-commerce and international fast selling fashion brands, the domestic traditional clothing industry has suffered from sluggish sales and high inventory, while the cost of labor and raw materials is rising, and many brands have closed stores to reduce costs.

　　 Increased foreign investment

In the first half of this year, the company realized a main business income of 2.962 billion yuan and a net profit of 179 million yuan, down 20.11% and 19.61% respectively year on year. Due to the proper adjustment of the distribution of direct marketing channels, the company closed and closed inefficient stores and stores with changed business circles, so the sales expenses decreased by 17.16% compared with the same period.

According to the prediction of Meibang Garments, the future three quarters will still face the pressure of declining performance. It is estimated that the net profit attributable to shareholders of listed companies will remain between 210 million yuan and 325 million yuan from January to September 2014, down 15% to 45% compared with 383 million yuan from January to September 2013.

meanwhile, Smith Barney Clothing has increased the intensity of foreign investment. On September 12, the company announced and confirmed that it planned to participate in the establishment of the first batch of private banks in Shanghai, "Huarui Bank Co., Ltd.", as one of the two main promoters, with the proposed capital contribution not exceeding 750 million yuan (including 750 million yuan).

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