Hua Shares Buy Huayuan Garments To Improve High-End Fur Production Resources

On the evening of November 14th, it announced that the company intends to acquire 100% of the rights and interests of Hebei Huayuan garments company limited by cash, and the pfer fee is 58 million yuan.

Notice shows that

Huayuan Garments Co., Ltd. registered capital of 1 million 500 thousand U.S. dollars, the scope of business for the production of fur clothing, sales products.

Hongkong Kaiyuan invested 1 million 500 thousand US dollars to hold 100% stake in Huayuan garments.

As of September 30, 2014, the total assets of Huayuan garments were 37 million 121 thousand and 500 yuan, the total liabilities were 25 million 8 thousand yuan, the total receivables were 1 million 862 thousand yuan, the operating income was 19 million 701 thousand and 600 yuan, and the net profit was 3 million 558 thousand and 200 yuan.

After evaluation, Huayuan clothing market value is 58 million 500 thousand yuan.

Wordsworth said that Huayuan clothing has high-quality high-end overseas customer resources, and a complete, mature and excellent team of fur fur management, design, production and operation.

Huayuan garments have mature and advanced production and processing technology, especially the production process of raw materials such as sable, Carla Kul and blue violet, which are mainly made of high-grade fur.

The company has accumulated a certain amount of high-grade fur raw materials in recent years. Therefore, the implementation of the acquisition can quickly supplement the company's short board, and has the high-end fur production and processing team, technology and customer resources, which is an important measure for the company's development.

The company also announced on the same day that it intends to invest in Suning County Industrial Zone to set up a wholly owned subsidiary, Suning county life's Shopping Plaza Co., Ltd.

The registered capital of life's shopping plaza is 100 million yuan, which is funded by the company's own capital.

The company intends to invest in the construction of department stores to play a complementary role in the fur city business, so as to achieve the integration of resources in the Wordsworth Industrial Park.

Worth stock company is mainly engaged in the economic special animals fur deep processing and fur clothing manufacturing.

The company's main businesses include mink, Rex Rabbit, rabbit, fox, sheepskin, etc.

Such as animal fur acquisition, tanning, bleaching and dyeing; fur leather printing, cutting and deep processing and fur fabric manufacturing; mink clothing, other fur clothing, fur clothing and fur clothing and accessories design, production and sales.

According to galaxy securities analysis, at present, the project of the two phase of the fur Industrial Park and its supporting facilities will be built by Hua's shares. The construction area is about 100 thousand square meters. The two phase of the project is expected to open in the fourth quarter of 2015.

In addition, 2015 fur Industrial Park Phase 1, Beijing South fur city will also begin to contribute to the rental of shops.

After the marked decline of the price of marten in the first half of 2014, the price of the mink has bottomed out in September. In the first half of the year, when the price is low, it is estimated that the company has already chosen a certain amount of cheap raw materials, so as to safeguard the latter's gross profit rate.

Insiders pointed out that the extension of the industrial chain of Wordsworth has shown the effect, which will effectively avoid the drag caused by the decline in fur clothing exports.