Tong Jisheng: Promoting The Overall Listing Of Shanghai Textile Group

In December 16th, the Shanghai provincial SASAC and the Xinhua News Agency Shanghai branch held a large-scale dialogue on "dialogue with leaders of state-owned enterprises in Shanghai".

The Shanghai municipal government and the SASAC have actively promoted the reform of the company and shareholding system of state-owned enterprises, implemented the joint reorganization of open markets, and accelerated the overall listing of enterprise groups or the listing of core assets.

In the more than 20 competitive enterprises of the state owned assets system in Shanghai, industrial groups basically have to pform the mixed ownership through the overall listing or the listing of core assets.

Shanghai Textile Group also listed the overall listing as an important goal, creating conditions and actively completing the pformation of the company system from all aspects.

However, the overall listing is a systematic project with wide coverage and strong policy.

Shanghai Textile Group will start the asset securitization of mature businesses in batches.

For the two listed companies, Shenda shares and leading shares of the textile group, Tong Jisheng said that in the new organizational structure of the group, Shenda's stock business was concentrated in the Department of trade and internationalization, focusing on industrial textiles and foreign trade; leading stock business went to the brand and fashion department, attacking the fashion industry and the development of textile brands.

At the same time, the group technology and manufacturing division also implemented business management for the manufacturing enterprises affiliated to Shenda's shares and leading shares.

Turning to mixed ownership reform, Tong Jisheng said that through mergers and acquisitions at home and abroad to achieve the pformation of mixed ownership, is also a path for the group to choose.

At the beginning of September, Shanghai Textile Group held an investment merger and acquisition conference, invited more than 100 people including the SASAC, the Commerce Commission, the development and Reform Commission, the financial institutions and the third party service providers to participate in the meeting, and clearly issued the strategy and direction of the group's domestic and foreign investment and M & A.

Through contact, communication and screening, we choose some items to enter the stage of internal due diligence, and analyze the business related market with the help of information from external industry research institutions.

The UK and US brands have been completed.

Comprehensive analysis of the market report.

And choose some institutions with high degree of business agreement to sign strategic cooperation agreements.

Textile Group is accelerating the process of internationalization, Tong Jisheng said that the Chinese government is vigorously promoting "interconnection", building and developing bilateral and multilateral trade zones, including "one way and one area" construction, which has brought many opportunities to Shanghai's textile industry.

The development of Textile Group also needs new international space. We must speed up the process of internationalization and unswervingly "go out".

The specific measure to promote internationalization of textile group is "1+5", that is, "one path, five overseas bases".

This path is the "going out" of the textile industry.

The five base is to take up five positions in the international market.

First, the overseas raw material base.

Recently, the textile group launched the "New Textile Industrial Park in Sultan" project, and the associated enterprises in the United States, using Sultan's abundant land, sufficient light and water resources, plans to invest 10 billion US dollars to lay out 1 million hectares of land, and build a new textile industrial park in Africa through the textile industry chain and supporting infrastructure construction.

The two is the overseas manufacturing base.

The layout of textile factories in Bangladesh and other Southeast Asian countries has been set up, and textile factories are built in light of assets.

The three is the overseas sales base.

Shanghai Textile Group has established more than 10 overseas companies in the US and Europe.

The four is the integration base of innovative design. Through international cooperation and the acquisition and signing of excellent design teams at home and abroad, we have established a high-end garment design base in China and Europe. The cooperation with Copenhagen fur in Denmark has already started.

The five is the overseas supply and distribution base.

We are prepared to take advantage of trade cooperation and location in Southeast Asia and Africa to develop freight, logistics centers and trading markets in port cities.