Jialin Jie: Acquisition Of Foreign Garment Enterprises Equity

Today, the announcement said that on the 23 day, it signed the share purchase agreement with shareholders of Aizad Corporation (Pvt) Limited, Masood impex (Pvt) Limited and Binyamin Muhammad of Pakistan MTM, and invested $27 million 926 thousand and 600 to acquire 14 million 621 thousand and 300 shares of common stock held by the above-mentioned shareholders, accounting for 24.36% of the total number of ordinary shares.

The two sides agreed that the final paction period of this paction will be December 5, 2014.

Founded in 1992, MTM is the largest integrated knitting supplier and largest garment exporter in Pakistan. It has won the "Presidential Award" and "best export enterprise award" in Pakistan for many times, and has a complete set of advanced textile equipment (especially cotton textiles) production equipment, good management system and a large number of high-quality customer resources.

According to the latest unaudited financial statements provided by MTM (corresponding to the reporting period from July 1, 2013 to March 31, 2014), the company's total assets amounted to 1 billion 243 million yuan as of March 31, 2014, and its operating income was 1 billion 137 million yuan during the reporting period, and its net profit was RMB 38 million 783 thousand and 900 yuan.

The MTM product is mainly oriented to the mass sports brand, and is expected to form a positive complement with the professional outdoor outdoor brand oriented by the company's main business.

If the foreign investment is finally completed, through the cooperation between the two sides, the company will further expand and enrich the product type, promote the upgrading and improvement of the company's products, integrate and optimize the resource allocation of the industrial chain, and enhance the profitability of the company through the synergistic effect of scale, which is conducive to the long development of the company, and is in line with the interests of the vast majority of shareholders. If the equity pfer is finally completed, it will not lead to the change of the scope of the company's consolidated statements, but it may bring certain impact on the company's future financial situation according to the operation and dividends of the investment target.

Key financial indicators for the first three quarters of 2014

1, earnings per share (yuan) 0.0838

2, net assets yield (%) 3.39