"Global Garment First" Jingyuan International Intends To Restructure

In March 18th, the "global clothing first stock" Jingyuan International announced that the board of directors of the company was held by Luo Lefeng, the controlling shareholder, and Luo Cai Yuqing, both directors of the company, collectively referred to as the "Roche couple".

Before restructuring, the Roche couple held 2 billion 282 million shares in the company's equity, equivalent to about 80.0005% of the issued share capital of the company. They were held by CGL, a company owned by the Roche couple.

As a link between the Roche family planning family wealth and inheritance, the Roche couple are equally distributing all the shares held by CGL. Therefore, after the reorganization is completed, the Roche couple will directly hold 50% of these shares in their respective names, that is, the shares of 1 billion 141 million shares (equivalent to about 40.00025% of the issued share capital of the company).

Since the Roche couple will have no less than 30% of their voting rights immediately after the reorganization, each of them will have to make a mandatory full offer on all the issued shares of the company according to the rules of acquisition and merger of the Hongkong company 26. Unless the exemption is granted by the executive director of the corporate Finance Department of the securities and Futures Commission, it will be considered otherwise.

In this regard, the executive has issued a mandatory full offer exemption under the rule 6 of rule 26.1.

It is reported that Jingyuan international was founded in 1970, mainly engaged in the manufacture and sale of clothing, through the "co create" mode to provide customers with product design, development, procurement of raw materials, industrial process innovation, production, optimization of production costs, inventory management and delivery services, the main customers are mainly UNIQLO, HM, Levi 's, TheNorth Face and Under Armour and other clothing brands.

It was listed on the HKEx in November 2017.

At present, the company delivers about 350 million garments annually.