Hundreds Of Workers Collectively Defend YOUNGOR'S "Sequelae Of Pformation"

In late September, a factory called YOUNGOR knitting factory appeared hundreds of workers to safeguard their rights.

The reporter learned from many interviews that YOUNGOR knitting factory belongs to YOUNGOR, a listed company. Since 2013, the knitting factory has contracted overseas, and has not been included in the reports of the listed companies.

Many employees involved in the rights protection said that their rights protection is related to the fate of the knitting mill.

YOUNGOR replied to the Beijing News reporter that YOUNGOR has fully intervened in the event of employee rights protection.

At least from the point of view of industrial and commercial information, the performance of YOUNGOR knitting mill is not ideal.

YOUNGOR's clothing business revenue also saw a 1% decline in the first half of the year.

At the same time, it also appeared for the first time in recent years to reduce the number of stores.

At the same time, YOUNGOR's real estate business is also not optimistic.

With the concussion of the two tier market in the stock market since June, YOUNGOR's investment business will not be the highlight of the first half of the year.

YOUNGOR knitting factory "hundreds of employees" safeguard rights

In September 24th, a post about "YOUNGOR employees' organizational rights protection" was circulated on micro-blog.

The Post said that hundreds of employees of YOUNGOR knitting factory are safeguarding their rights, so that traffic on YOUNGOR Avenue in Ningbo is paralyzed.

In September 28th, Liu Xinyu, YOUNGOR's Dong MI, confirmed to the Beijing News reporters that the event of workers' gathering of rights protection did happen.

According to official website information, YOUNGOR group was founded in 1979, and realized sales revenue of 59 billion yuan in 2014, with a profit of 3 billion 935 million yuan, ranking 221st among the five hundred top 2014 Chinese enterprises.

Its YOUNGOR Limited by Share Ltd is listed on the Shanghai Stock Exchange, mainly clothing and other businesses.

The "YOUNGOR knitting factory" involved in this employee's "rights protection" belongs to the "Sun company" of YOUNGOR, a listed company.

According to YOUNGOR staff, YOUNGOR knitting factory is made up of three Ningbo YOUNGOR knitting garments Co., Ltd. (currently cancelled), Ningbo YOUNGOR Knitting Underwear Co., Ltd. and Ningbo YOUNGOR fashion Xuan Knitting Co., Ltd.

This year's semi annual report shows that as early as 2013, YOUNGOR subsidiary YOUNGOR clothing Holdings Limited signed a contract lease agreement with natural person Weng Su Fei.

According to the lease agreement, Weng Sufei has contracted out the Ningbo YOUNGOR knitted underwear company of YOUNGOR clothing company and the Ningbo YOUNGOR Xuan Knitting Co., Ltd. for a period of three years.

That is to say, by March 2016, the lease will expire.

In late September, a staff member who joined the activist said to the Beijing News reporter that the knitting factory might be closed in the future, but it would have to re sign the contract with the employees. The service age and other benefits were all zeroed in. "We hope that the year-end bonus will be gone for a year, so we did not sign the contract, and we need a leader to give us a statement."

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Another rule of thumb is that the YOUNGOR leadership decided to remove the contracted relationship between the knitting factories and the employees returned to the YOUNGOR group as a whole. "This will definitely reduce the staff and reduce the welfare of the employees, so we have to voice our voice."

YOUNGOR fully intervened in safeguarding rights

YOUNGOR secretaries Liu Xinyu told reporters that according to the development strategy of YOUNGOR, the YOUNGOR knitting factory involved in the rights protection has been pformed in March 2013.

Liu Xinyu said that in the process of knitting plant pformation, YOUNGOR had signed an agreement with the contractor of the knitting plant and paid the full contract employee compensation according to the relevant laws and regulations. At this point, YOUNGOR has undertaken the obligations that should be undertaken in the process of pformation.

"Now, because of the fact that the contractor is not in place, there has been a case of employee rights protection.

On the day of the incident, YOUNGOR has fully intervened, properly handled the incident, and maintained the legitimate rights and interests of contract firms employees and YOUNGOR companies.

Liu Xinyu said.

Even if the knitting factory has contracted abroad, it still has contact with YOUNGOR, a listed company.

A native of Ningbo.

People told the Beijing News reporter that although YOUNGOR contracted out the knitting mill, the two business relationships remained very close and did not change much before contracting.

According to public reports, Weng Su Fei, a contractor of the knitting factory, once held an executive position in YOUNGOR.

He served as general manager of YOUNGOR suit factory and clothing holding company.

In addition, the contract for lease of the knitting plant will expire next March.

The Beijing News reporter failed to learn the fate of the knitting plant after the contract expires.

This also means that the knitting mill still has the possibility of returning to YOUNGOR, a listed company.

Number of stores declined for the first time in recent years

Since 2013, YOUNGOR knitted underwear company and France Xuan knitting company are no longer included in the reports of listed companies.

Therefore, the financial data of the two companies involved in the "rights protection" company can not be accurately known to the outside world.

Industrial and commercial data show that last year, the knitting underwear company gained total business income of 38 million 530 thousand yuan, and did not disclose net profit at the same time.

However, the total tax amount of 360 thousand yuan in the same period reflects the limited profit of the knitting underwear company from the side.

In 2014, the company obtained a total revenue of 88 million 540 thousand yuan and a net profit of 1 million 910 thousand yuan.

The above two sets of data indicate that the YOUNGOR knitting factory is not optimistic.

At the level of YOUNGOR, the main garment industry is also facing a grim situation.

The downside of macro economy, the change of consumer psychology, the impact of foreign brands and

The squeezing of channels also poses a challenge to the development of YOUNGOR's clothing business.

In the first half of this year, the YOUNGOR clothing sector achieved a business income of 2 billion 400 million yuan, down 1.06% from the same period last year, the China Daily reported.

Among them, apart from brand clothing business growth of 4.52%, including clothing, textiles and other businesses, have declined sharply.

Among them, the revenue of garment foundry business was reduced by 9.54% compared with the same period last year, and the revenue of textile business has dropped by 70%.

On the other hand, the number of stores in YOUNGOR has declined for the first time in recent years.

According to the China Daily, as of June, there were 3078 sales outlets in YOUNGOR, a decrease of 4 compared with the beginning of the year, including 2605 direct outlets, 15 fewer than the beginning of the year.

In the past financial reports, the majority of YOUNGOR's stores are expanding.

It has been reported that, under the impact of the electricity supplier channel, YOUNGOR will integrate into the next 1000 channels.

In April of this year, YOUNGOR launched a non-public offering plan to raise 3 billion yuan to build O2O marketing platform project.

At the same time, since the beginning of this year, it has also used big data to collect members' information and carry out full channel marketing covering websites, social media, APP, offline stores and other platforms.

Net profit fell 18% in the first half of the year.

There is a saying that this happened in the event of employee rights protection, or related to the pformation of YOUNGOR.

A knitting factory employee said that after the expiration of the contract period of the knitting mill next year, YOUNGOR would be able to use the factory area to develop real estate projects.

However, the information was not confirmed by YOUNGOR official.

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Real estate is also a pillar of YOUNGOR.

As early as 1992, YOUNGOR joined Real Estate Company in Macao to create a joint venture.

Since then, YOUNGOR's real estate business has risen rapidly.

In 2010, Li Rucheng, chairman of the board of directors of YOUNGOR, said publicly that urbanization is developing and consumption level is upgrading and adjusting. Real estate is a very good industry.

The speed of YOUNGOR's development will be limited, so we must constantly search for new industries.

This year's report shows that YOUNGOR's real estate sector received 6 billion 200 million yuan of revenue, far exceeding the 2 billion 200 million yuan for the same period of the clothing sector.

However, YOUNGOR's real estate business has long been showing signs of sluggish growth.

Semi annual report shows that by the increasing cost of land and labor and the adjustment of product mix, the net profit of YOUNGOR's real estate sector was about 440 million yuan in the first half of this year, down 18% from the same period last year.

Over the same period, the gross profit margin of the real estate sector was 19.16%, down 9.4% from the same period last year.

In the near future, YOUNGOR's plans to invest in the energy sector have also been frustrated.

Since 2013, YOUNGOR has repeatedly claimed that it will invest 3 billion yuan to subscribe for the 30% share of the energy investment fund of the League of nations in Beijing.

The fund and the national social security, Baosteel Group and other joint investment in PetroChina's west east gas pipeline project of the three line.

In September 29th, YOUNGOR said on the Shanghai E interactive that due to changes in PetroChina's management and expected rate of return, YOUNGOR has chosen to withdraw from the west east gas pipeline project.

"Accurate escape" stocks benefited in the first half of the year.

Besides clothing and real estate, investment is another major business of YOUNGOR.

Starting in the field of equity investment in 1993, YOUNGOR has invested in CITIC Securities, Haitong Securities and many other enterprises, and set up a professional investment company in 2007.

This year's China Daily reported that YOUNGOR's investment business achieved an investment income of 1 billion 800 million yuan and a net profit of 1 billion 950 million yuan, representing an increase of 33.19% and 124.70% respectively over the same period last year.

This is due to the red hot market and the "God trader" in the first half of the year.

A stockbroker who had had business contacts with YOUNGOR said that YOUNGOR chairman Li Rucheng was a master of capital operation.

In May 19th this year, YOUNGOR announced that the company sold shares of Ping An, Pufa Bank, Guang Bo shares and other shares, resulting in an investment income of 520 million yuan. In June 10th, YOUNGOR announced that it had sold shares of companies such as Jin Zhengda and Lucy, and gained 536 million yuan in investment.

From then to July 13th, YOUNGOR gained 140 million yuan in investment income by selling shares of China Ping an H shares and Guang Bo shares.

From the beginning of July to July, YOUNGOR sold its available financial assets, generating a total investment income of 1 billion 190 million yuan and a net profit of $897 million.

As we all know, after June 15th this year, the stock market experienced a sharp decline.

Most of YOUNGOR's reduction occurred before the above nodes.

Therefore, it is reported that YOUNGOR is called "God's son".

Market capitalization or shrinkage in the three quarter

According to the semi annual report, as of June 30th, YOUNGOR still held the shares of Jin Zhengda, Guang Bo share, venture software and hemp industry as "financial investors".

YOUNGOR's holdings of these companies are 78 million 140 thousand shares, 10 million 830 thousand shares and 8 million 10 thousand shares, and 78 million 450 thousand shares respectively.

From July 13th to September 30th, YOUNGOR issued no further announcement on the sale and sale of financial assets.

From July to September this year, Jin Zhengda's share price dropped from 21.71 yuan / share to 17.79 yuan / share, the share price of broad stock dropped from 31.58 yuan / share to 17.52 yuan / share, and the share price of pioneering software dropped from 190 yuan / share to 124.17 yuan / share, and hemp industry decreased from 21.19 yuan / share to 15.61 yuan / share.

Accordingly, in the three quarter, the market value of YOUNGOR's holdings of the above four companies will shrink by 306 million yuan, 152 million yuan, 527 million yuan and 440 million yuan respectively.

Such a loss has already been equivalent to the net profit of YOUNGOR's stock sales in the first 7 months of this year.

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"The lost mulberry tree, the east corner."

In July this year, YOUNGOR launched its largest capital operation since its establishment.

It signed an agreement with CITIC stock to subscribe 859 million shares of CITIC shares at HK $13.95 / share, with a total investment of HK $11 billion 986 million.

By June 30, 2015, YOUNGOR's total assets amounted to nearly 46 billion yuan, with net assets of 18 billion 960 million yuan.

The investment in CITIC shares is equivalent to half of its assets.

In October 9th, CITIC's share price was HK $14.06 per share.

Compared with the previous subscription price, the share price rose by HK $0.11 per share.

The 859 million shares subscribed by YOUNGOR increased by nearly HK $95 million.

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Industry downturn, domestic garment enterprises have pformed

According to the statistics of the China National Business Information Center, in August this year, the retail sales of clothing commodities of hundreds of major retail enterprises nationwide dropped by 4.4% compared with the same period last year, and the growth rate increased by 1.8 percentage points from the previous month.

Statistics from the National Bureau of statistics showed that in the first half of the year, garment enterprises above Designated Size completed 14 billion 198 million garment production, an increase of 1.36% over the same period last year, an increase of 2.40 percentage points lower than that in the same period in 2014.

At present, domestic clothing brands such as Shanshan and seven wolves are facing unprecedented difficulties and are forced to seek pformation.

State Yuan Securities Research Report said that in the face of industry difficulties in recent years, 80 companies in the textile and garment sector, 23 companies choose to cross industry development, the original main business, or insist on or give up, the remaining 57 companies or focus on the main business, or in the field of extension related to the main business.

Shan Shan and YOUNGOR also started in Ningbo. There are many similarities on the road of pformation, which spares no effort in real estate business and financial investment.

At present, the capital network of Shanshan has already covered insurance, banking, securities, funds, futures, financing leases and other fields, and has invested in the development of outlets business chain in Ningbo, Harbin, Zhengzhou and other industries such as Mitsui real estate.

According to the planning of Shanshan, there will be 15-20 international outlets in China in the next ten years.

In addition, Shanshan is one of the first batch of enterprises to enter the lithium-ion battery material industry in China. Now it has become the largest and the world's first comprehensive supplier of lithium ion materials in the field of cathode, anode and electrolyte of lithium ion batteries, and takes this as the entry point to enter the field of new energy vehicles.

Performance continued to decline, seven wolves plan to spend 1 billion yuan to set up a wholly-owned investment subsidiary, to participate in the investment clothing industry and related fashion industry, retail consumption industry, "industry + investment" strategic pformation outline is increasingly clear.

At the same time, the seven wolves entered the micro Meng shop to test the water micro business to expand the mobile terminal consumer market.

Last year, Li Ning Co, which closed more than 500 stores, officially announced the slogan of "everything is possible" and announced that the slogan is to match the pulse of the times, and force Internet + to strengthen cooperation with millet.