YOUNGOR 371 Million Acquisition Of 50% Stake In Ningbo Project

In September 30th, YOUNGOR announced that its wholly owned subsidiary, YOUNGOR real estate holdings limited, acquired a 50% stake in Ningbo Yao Jing Real Estate Development Co., Ltd., a wholly owned subsidiary of Lu Long's subsidiary, Lu Yu investment, at 371 million yuan.

At the same time, YOUNGOR's wholly owned company, Ningbo YOUNGOR North City Real Estate Co., Ltd. sold its 50% stake in Lu Yu investment and 50% of its shareholder loans at 370 million yuan to Kowloon warehouse China Real Estate Development Co., Ltd.

After the completion of the equity pfer, YOUNGOR real estate and Lu Yu investment hold 50% of Yao Jing property directly, while China has 100% stake in Lu Yu.

Said this time

After the pfer is completed, YOUNGOR real estate will directly hold the 50% stake in item company, Yao Jing, which is actually operating, which will help the company straighten out its ownership structure.

In addition, the profit and loss generated by YOUNGOR's purchase and sale of assets is -15227.01 million yuan.

It is understood that this time

The target Yao Jing estate holds the project of Baoyu temple in Ningbo.

In October 29, 2010, Kowloon warehouse received the total price of 1 billion 43 million yuan, the floor price was 13390 yuan / square meter.

The plot is located in the north of Lijiang West Road, east of Jiangbei Road, and west of Baoqing Road. The urban residential land has an area of 48704 square meters, about 73.06 mu, with an area of nearly 78 thousand square meters and a floor area ratio of 1.6.

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In 1-8 months, the total export volume of woven garments was 50 billion 470 million US dollars, an increase of 24.7%, and the number of exports increased by 27.8%.

The total export of knitted garments was 52 billion 870 million US dollars, a decrease of 6.4%, and the export volume increased by 0.3%, of which the export volume of knitted garments made of cotton and silk decreased significantly by 18.9% and 60.9% respectively.

Gross leather clothing exports totaled $1 billion 760 million, an increase of 44.9% over the same period last year.

The price of imported cotton fell, and the difference between inside and outside cotton price reached more than 40%, which affected the price of downstream products.

The unit price of cotton clothing exports fell by 5.5%, resulting in a total decline of 4.6% in total exports, amounting to $43 billion 440 million.

The unit price of chemical fiber clothing is not large, because the number of exports increased by 19.1%, which led to an increase of 18.7% in total exports and a total of 46 billion 80 million US dollars.

In the top 5 provinces and cities of garment export, the export volume of Guangdong and Zhejiang was 221.8 and 22 billion 160 million US dollars respectively, up 5% and 4.9% compared with the same period last year, ranking 2 in the first place. The export volume of Jiangsu was 17 billion 140 million US dollars, up 7.9% over the same period last year, ranking third, and the export volume of Fujian and Shanghai respectively 11 billion 800 million and 9 billion 390 million dollars, respectively, increasing respectively.

In addition, the export volume of Yunnan, Hunan, Guizhou and other provinces increased rapidly, with an increase of 124-207.8%.

Guangxi, Shanxi, Qinghai and other provinces and cities exports declined rapidly, with a drop of 32.9-72.3%.

In 1-8 months, the main developed economies showed signs of recovery, and the main import market demand for textiles and clothing, such as the European Union and the United States, continued to recover.

Exports to the EU amounted to US $31 billion 430 million, an increase of 19.4%, accounting for 26.2%, and US exports to US $21 billion 870 million, an increase of 8.3%, accounting for 18.2%.

Affected by the shift of Japanese purchasing focus and the increase of consumption tax, exports to Japan have been negative growth since February of this year. The export position of the Japanese market in China has further declined, and its export volume has fallen by 12 billion 320 million, or 11.1%, accounting for 10.3%.

Due to the containment of false trade arbitrage this year, Hongkong's exports decreased significantly compared with the same period last year, and exports to Hongkong amounted to 5 billion 780 million US dollars, down 14.4%, accounting for 4.8%.

Exports to ASEAN continued to decline, and exports amounted to 8 billion 630 million US dollars, down 3.3%, accounting for 7.2%.

Among them, exports to Malaysia, Singapore and Philippines declined most significantly, down by 23.4%, 16.2% and 12.5% respectively.

In addition, exports to Nigeria and Holland increased rapidly, with an increase of 149.3% and 46.5% respectively.

Exports to Panama and Kazakhstan declined rapidly, down by 24.1% and 24.7% respectively.