2011-2012 Apocalypse Of China's Garment Industry Development Report (1)

For the clothing industry, capital is not only a booster to enhance the future value of the enterprise and brand, but also the blood for the survival, development and growth of the enterprise. Finance is the core of the modern economy, an important driving mechanism to guide the allocation of economic resources, and a core support mechanism for China's economic development and industrial restructuring.

　　 1. Merger and acquisition

Mergers and acquisitions include mergers and acquisitions. In recent years, the textile and garment industry's M & a market is very active. It has become an important way of capital integration of garment industry, and has shown these characteristics: the growth rate is fast; the scale of single takeover transactions is not large; from the point of view of transactions, most M & A transactions are dominated by PE/VC; and the trend of cross-border mergers and acquisitions is looming.

The factors that drive M & A among enterprises include the following aspects: enlarging scale, enhancing competitiveness and facing up and downstream bargaining power; controlling factors such as terminal.

Mergers and acquisitions have a series of relatively standardized, mature and complex processes, and in the process of mergers and acquisitions, we should pay attention to the division of rights, full due diligence, and the adjustment of valuation range.

　　 2. Listing

Production enterprises are mainly used to expand production scale, improve technology and increase productivity. Channel development Brand management and expansion to production.

Listed companies are mainly listed for the following advantages: financing efficiency, wealth effect, governance effect, brand effect, incentive effect, development effect, and agglomeration effect. The listing process mainly includes the following four steps: first, the establishment of restructuring; second, listing guidance and material production; third, the issuance examination stage; fourth, the issuance and listing stage, and the enterprises will make the announcement inquiry after the approval of the SFC, issue the price and issue the listing.

The listing of clothing enterprises needs to pay attention to the integrity of assets, related transactions, financial and accounting issues.

　　 3, venture capital

In recent years, in the field of clothing risk investment (VC) is mainly concentrated in the field of electronic commerce. In 2011, there were 79 financing events in the related fields of China's e-commerce B2C industry, with a total investment of 15 billion 400 million yuan. From the financing point of view, the investment concentration was relatively high. The Vc firm favored the relatively mature and low risk e-commerce enterprises. Until a lot of enterprises went public, a large amount of capital would be reconfigured.

　　 4, financing innovation, namely cluster financing.

As a new financing mode combined with finance, industry and enterprises, cluster finance has its unique advantages: credit advantage and lower credit cost, which is conducive to the extension and cooperation of SME financing under industrial clusters, and is conducive to the overall integration and development of industrial chain and supply chain.

The main path and form of cluster finance is based on industrial cluster financial companies. Cluster financing Based on the advantages of financial market and industrial cluster size, a set of bond financing models.