SFX Holding Company'S Listing In Hong Kong Was Accepted By The SFC.

Ningbo

Limited by Share Ltd today (July 27th) announced that its subsidiary company, fir

The Limited by Share Ltd (hereinafter referred to as "Shanshan brand") received the notice of acceptance of the application for administrative licensing of the China Securities Regulatory Commission (No. 161451) issued in June 24, 2016 by the China Securities Regulatory Commission (hereinafter referred to as the "China Securities Regulatory Commission").

The China Securities Regulatory Commission (CSRC) has reviewed the application materials for the administrative licensing of H-share first issued by Shan Shan brand.

It is considered that the application material is complete and is in conformity with the statutory form, and decides to accept the application for the administrative license.

The announcement shows that the registered capital of Shanshan brand H shares is RMB 100 million yuan, the total number of shares is 100 million shares, the issuer has 2 shareholders, and the shareholding structure is as follows:

The business scope of the issuer is brand operation management and brand planning.

The manufacture, processing, wholesale and retail of needletextiles, leather products, and labour protective articles shall be carried out according to the approved items according to law and approved by the relevant departments. "

Shanshan shares also issued a performance notice today. It is estimated that the net profit attributable to shareholders of Listed Companies in the half year of 2016 will decrease by 60%-70% compared with the same period in the first half of the year (statutory disclosure data), of which the company's annual profit attributable to shareholders of listed companies will be up to 130%-150% in 2016.

Shanshan shares further explained that the decline in net profit was mainly due to the sale of the available financial assets of the Bank of Ningbo in the same period last year, resulting in a 610 million 241 thousand and 800 yuan investment income (including tax).

In an interview today, reporters learned that Shanshan brand is the only business platform for Shanshan Limited by Share Ltd to run its brand clothing business. Application for listing on the main board of the Hongkong stock exchange can maximize the initiative of its subsidiaries.

In 2015, the net profit of the company's apparel business was 52 million 220 thousand yuan. The stripping of clothing business has little impact on the company's management and performance.

The Shanshan Group, which started with suits, will thoroughly bid farewell to the old business and pform into a new energy listed company.

Researcher Hu Yi here said that in recent years, due to the weakening of domestic consumption demand and the serious problem of channel inventory, the clothing business of Shanshan Group continued to be depressed. As of the quarterly report in 2016, Shanshan stock company achieved 1 billion 15 million operating income, an increase of 20.46% over the same period last year. After deducting the net profit, the net profit of its parent company was 39 million 150 thousand yuan, which was -76.9 million in the same period last year.

In the first quarter of this year, the improvement of business mainly came from the gradual stripping of the loss assets of garment business, and the substantial improvement of positive material profits.

Reporters also noted today that reports from the media showed that Shanshan had invested 5 billion yuan to pform the garment production plant in Yinzhou District, Ningbo, into a new energy vehicle production base.

The clothing industry, which is gradually shifting to Jiangsu and Anhui, has speeded up the movement and accelerated the pfer. At the same time, Shanshan has invested heavily in redistributing the entire plant area, upgrading and building a large number of factories and purchasing production lines.

And in 2015, Shanshan shares launched a 3 billion 400 million financing plan through a private placement, which is used for key components of electric vehicles, power batteries and power battery materials projects, to enter the new energy vehicle industry; to invest in the 500 million guiding fund in Shenzhen to establish spruce wisdom and focus on the operation of new energy vehicles.