Jiangnan Cloth Co., Ltd. Officially Listed On The Hongkong Stock Exchange.

China

Brand JNBY parent company

The Company Limited was officially listed on the Hongkong Stock Exchange on the 31 day, and its stock price opened at HK $6.55.

The IPO, Jiangnan cloth and a total of 125 million public offering, the actual sale of 16 million 455 thousand shares in Hongkong, the original planned 12 million 500 thousand shares 1.32 times.

The company said that the IPO fund-raising of HK $591 million, of which 37% will be used to build a new logistics center in Xiaoshan, Hangzhou, 28% will be used to strengthen the all channel interactive platform; 30% will be used to expand the company's product categories and

Combination; 5% will provide funds for the company's working capital and other general corporate purposes.

In addition, Jiangnan Buyi revealed that the company gained Hony Capital Fund VIII (Cayman) of Lenovo's holding investment company, and L.P. Hongyi invested 1000 million dollars in investment, and did not rule out future cooperation opportunities.

The chief executive of Jiangnan cloth clothing (CEO) said that there will be many opportunities for acquisition cooperation in the future, but there is no definite goal at present.

Hongyi invested in famous sports brands such as Puma and Puma and many well-known European and American handbag suppliers Lee & Man Handbags Holding Ltd., Li Wen handbags group. After the paction was completed, the handbag immediately decided to issue HK $1 billion 500 million convertible bonds. The proposal will be considered at the shareholders' meeting next month.

In addition to Hongyi investment, Tianhai International Tian Hai Holdings Limited is also a cornerstone investor in the south of the Yangtze River. It has subscribed for us $15 million in Jiangnan Buyi shares, accounting for at least 12% of the IPO scale.

Tian Hai holdings is an investment company of Guangzhou Tian Hai lace Limited company. Guangzhou Tian Hai is a supplier of Jiangnan cloth clothing. However, the purchase of products from Jiangnan cloth clothing accounts for less than 1% of the total sales cost of the company.

According to the financial information disclosed by the Buyi group of Jiangnan, in the 2016 fiscal year, the total income of cloth clothing in the south of the Yangtze River totaled 1 billion 902 million 600 thousand yuan, an increase of 17.9% over the 1 billion 613 million 100 thousand yuan in the 2015 fiscal year, while 16.6% in the 2015 fiscal year increased by 16.6% yuan compared with the 1 billion 383 million 400 thousand yuan in 2014 fiscal year.

The group quoted CIC data as the highest retail sales in the Chinese designer fashion group since 2015, with a market share of 9.6%.