Transfer Of Jiangxi'S Mother Company To Shantou Subsidiary

At present, the top 5 underwear brands in the United States account for at least 70% of the market share.

In July 16th, the famous underwear brand Limited by Share Ltd, the Shenzhen Hui Jie group Limited by Share Ltd (hereinafter referred to as "Hui Jie group") announced that it would cancel the Hui Jie group in Shantou city man Ni Finn Garment Co., Ltd.

Regarding the reasons for cancellation, Hui Jie group said in its announcement that Hui Jie group plans to complete the relocation and closure work of Manifen in Shantou before 2019. However, in view of the disagreement between Shantou's main management personnel and most of the staff members about the "off-site employment and factory relocation plan" proposed by the company, the group decided to liquidate and cancel Shantou's Shantou.

For the existing capacity of Shantou Manifen, Hui Jie group plans to digest through processing and pferring parts to Jiangxi base.

After cancellation, there will be about 48 million 492 thousand and 500 yuan of non operating losses due to factors such as resettlement costs.

At the same time, Hui Jie group announced that it will invest 2 million US dollars to set up a wholly owned subsidiary in the United States. Its main business scope is the design, development and sale of clothing, shoes, boxes, bags and other related products.

Hui Jie group said in its announcement that the purpose of this external investment is to actively implement overseas development strategy and further promote North America.

The exchange and cooperation should speed up the internationalization process, establish and enhance Manifen's international image and enhance the comprehensive international competitiveness.

In the first quarter earnings report disclosed by Hui Jie group, the revenue of Hui Jie group was 563 million 100 thousand yuan, up 7.38% compared to the same period last year, and net profit attributable to 105 million 600 thousand yuan, up 5.41% compared to the same period last year.

According to the 2017 earnings report, the total revenue of Hui Jie group was 2 billion 136 million yuan, up 4.27% compared to the same period last year, and net profit attributable to 222 million 300 thousand yuan, up 21.27% compared to the same period last year.

The retail value of Chinese women's underwear market will reach US $25 billion in 2019, which is two times that of the US market, according to market research firm Ou Rui research.

According to industry analysis, underwear brands occupy 5 of the top 70% of the US market.

The market share will be difficult.