Small and medium sized board of Shenzhen Stock Exchange (Xin He, Beijing, Carmen fashion, Wan Dai clothing)
As the main body of small and medium-sized enterprises, most of the garment enterprises are listed on the SME Board of Shenzhen Stock Exchange. Among the listed garment enterprises, the listed companies in the Shenzhen Stock Exchange are also at the forefront of all sectors. There are 3 women's clothing brands, namely, the women's clothing brand enterprise, the children's clothing brand enterprise, Beijing's Carmen clothing and clothing manufacturer Wan Dai clothing.
Xin he Limited by Share Ltd prospectus shows that the company's main JORYA, JORYA weekend, NM NM NI (En Manlin), GIVHSHYH, CAROLINE, AIVEI and QDA seven high-end brands of women's own brand design, production and sales, of which JORYA and JORYA are the core brand of the company. As of December 31, 2018, the company had 600 sales outlets in all provinces, municipalities directly under the central government, and Taiwan and Macao except Tibet. The number of self operated shops was 454, accounting for 75.67% of the total number of shops. In 2016, 2017 and 2018, the operating income of the company was 1 billion 498 million yuan, 1 billion 634 million yuan and 1 billion 760 million yuan respectively. In 2017, it increased by 9.35% compared to 2016, 7.76% in 2018, and 185 million yuan, 192 million yuan and 206 million yuan respectively.
Beijing Carmen apparel Limited by Share Ltd prospectus shows that the company is a high-end children's clothing business, products involving 0-16 year old (mainly 2-14 years old) children's clothing and underwear socks and other related products. By the end of 6 2018, the company had opened 758 stores in the country, including 324 outlets and 434 franchisees. The company's own brand "water boy" was founded in 1995, the company began to operate the international children's wear brand retail business from 2005. By the end of June 30, 2018, the company's international children's wear brand has developed to twenty-one. In addition, the company tried to sell children's clothing brand collection shop in China, and founded the "bebelux" international high-end boutique boutique store. The company's revenues from 2015 to 2017 and 2018 1-6 were 385 million yuan, 402 million yuan, 548 million yuan and 329 million yuan respectively, with net profit of 30 million 988 thousand yuan, 37 million 105 thousand and 200 yuan, 54 million 617 thousand and 600 yuan and 39 million 106 thousand and 500 yuan respectively.
Wan Dai clothing Limited by Share Ltd prospectus shows that the company mainly engaged in the production and sale of woven garments, providing customers with clothing design, accessories, development and ordering, production and processing and logistics management services. The products include men's clothing and children's clothing, including coat, clothing, trousers and skirts. The main customers include Zara's parent company, Armani textile, Metersbonwe fashion and Benetton group, and other European apparel Brand Company. In 2016, 2017 and 2018, the operating income of the company was 1 billion 38 million yuan, 1 billion 197 million yuan and 1 billion 241 million yuan respectively, with net profit of 60 million 349 thousand and 200 yuan, 24 million 114 thousand and 300 yuan and 62 million 863 thousand and 900 yuan respectively. Among them, the income of clothing export was 841 million yuan, 940 million yuan and 968 million yuan respectively, accounting for 81.57%, 79.03% and 78.26% of the company's main business income respectively.
The two enterprises that are listed on the Shenzhen Stock Exchange's gem are two enterprises that are related to clothing business. They are positioning themselves to have more "new" business models. One is the "custom tailor" clothing manufacturer, Qingdao cool intelligent, and the other is shoe fashion and fashion design enterprise Zhejiang Zhong Yin fashion.
Qingdao cool special intelligence Limited by Share Ltd prospectus shows that the company is mainly engaged in the production and sale of personalized custom garments, including the men and women's full dress series, and provides the overall transformation plan and technical consulting service for the digital customization factory to the domestic related traditional manufacturing enterprises. According to the prospectus, the core business mode of the company is "Customer/Business to Manufacturer + Made to Measure", referred to as C/B2M+MTM. The main business of the company is the production and sale of clothing at the core of customization. It mainly includes three modes, namely, customized ODM, customized OBM and personalized custom occupation. For the B clients at home and abroad, the company carries out production by OEM. For the C clients in the territory and the customer orders of the professional clothing group, the company produces and sells its own brand. In 2016, 2017 and 2018, the revenue of cool smart business was 420 million yuan, 584 million yuan and 591 million yuan respectively, with net profit of 22 million 803 thousand and 500 yuan, 62 million 865 thousand and 900 yuan and 62 million 730 thousand and 200 yuan respectively.
Zhejiang Zhong Yin fashion Limited by Share Ltd prospectus shows that the company is a creative design enterprise focusing on fashion product design. At present, the company's fashion design is mainly applied to shoe design, and it also applies to the graphic design business of all kinds of consumer products. The company provides shoe shoe supply chain integration services while providing footwear design services. The company's products are mainly designed for the middle end and the mass market, which are mainly used in women's shoes and children's shoes in the fast fashion field.
In 2016, 2017 and 2018, China Yin's fashionable business income was 391 million yuan, 621 million yuan and 625 million yuan respectively, of which the supply chain integration business accounted for 90.15%, 90.74% and 84.84% respectively. The prospectus says the design business is the core business of the company, and the supply chain integration business is the value-added service provided by the company based on the design business to the shoe customer. The sales mode of the company's design business is mainly divided into two modes: "self design, customer direct selection style" and "customized design style according to customer needs". The former is the main selling mode of the company's design business, and has the ability to launch over 9000 shoe design styles annually. The prospectus shows that the offshore market is the main source of revenue for the company, and the proportion of revenues from 2016 to 2018 is over 85%. The top five customers of the company are mainly footwear companies in European countries or regions such as Poland, France and Germany.
Main board of Shanghai Stock Exchange (Jordan sports)
At present, there are fewer clothing companies listed on the main board of the Shanghai Stock Exchange, and only one clothing enterprise is Jordan sports, which has been on the queue list for a long time.
Jordan sports has been in the meeting for a long time, but has not obtained the approval status. The main reason lies in the lawsuit. But Jordan sports did not give up the A share listing target and stayed on the list of IPO queuing companies. In November 21, 2011, Jordan sports submitted a draft prospectus for IPO to the SFC, which was awarded in November 25th.
Up till now, Jordan sports is still in the past. The Commission referred to Jordan sports in a news conference in 2014. It said that there was a major pending lawsuit in Jordan sports. It belonged to the special situation of the enterprise. The SFC will push forward the listing work according to the procedures after the relevant limited factors are eliminated.
Although the road to listing is bumpy, the company is in the queue for IPO for a long time, but Jordan sports still has some actions in operation. Statistics show that the company has hired a number of athletes spokesmen in basketball, comprehensive training, running and other fields, sponsored the National Games in 2017, and put forward the brand upgrading and remodeling plan this year.
Main board of Hong Kong Exchange (Chung Po International)
At present, there are only one garment enterprise looking for the main board of the Hong Kong stock exchange. However, compared to the above garment enterprises seeking landing A shares, this is a relatively large garment retailing enterprise, which is a sports shoe and clothing retailer with annual revenue of 30 billion yuan. As a sports brand agency business under BELLE international, which has been privatized and delisted, Tao Bo international can be regarded as the "head" enterprise of sports shoes and clothing retail in China.
In February 28, 2019, the company's retail network includes 8343 direct outlets in 268 cities in 30 provinces and 1880 stores operated by downstream retailers. According to Sullivan's data, in terms of retail sales, the company is China's largest footwear retailer, with a market share of 15.9% in the Chinese sports footwear retail market in 2018. According to frost Sullivan's data, by the end of 2018, the company's direct store was the most popular sports shoe and clothing product retail network in China. At present, Nike is the second largest retail partner and customer in the world. It has worked with Adidas for 20 years, and is Adidas's largest retail partner and customer in the world. Its strategic partnership with Adidas has been 15 years. The company also collaborated with Puma, CONVERSE and Wei Fu Group's brands (namely, fan, The North Face and Tim Pak LAN), Reebok, Arthur, ghost grave tiger and Skech.
The prospectus shows that the international revenue increased from 21 billion 690 million yuan in the year ended February 28, 2017 to 32 billion 564 million yuan in the year ended February 28, 2019, a compound annual growth rate of 22.5%, and net profit increased from 1 billion 317 million yuan in the year ended February 28, 2017 to 2 billion 200 million yuan in February 28, 2019 as of February 28, 2019, with a compound annual growth rate of 29.2%.
Hua Shang concluded: IPO audit is strict, queuing garment enterprises should improve the quality of enterprises' development.
Since the beginning of this year, the A share IPO market has been on the whole as a result of strict auditing. It has been proved that the rate of decline in the meeting rate, the withdrawal of material enterprises and the number of queuing enterprises are decreasing. According to media statistics, according to the latest announcement of the SFC, as of August 2nd, the number of IPO queuing enterprises was 484, a decrease of 2 compared with the previous week. Among them, 16 enterprises have been approved by the trial committee, and another 37 enterprises are in a "stop review" state. In addition, 26 enterprises have terminated the IPO review this year, including 5 in January, 2 in February and March, 4 in April, 2 in May, 3 in June, and 8 in June.
The above data also reflect the overall situation of the current clothing enterprises in the IPO market. For example, the enterprises that terminate the review include Heji China, a clothing company that withdrew the application materials in February. And in the clothing enterprises that apply for IPO, except for Jordan sports, which has been in the state for a long time to seek the main board of the Hong Kong stock exchange, there are only 5 clothing enterprises on the A queue IPO queue list. Among them, there are "old" faces, such as the application of IPO's Xin He, and Beijing's Carmen dress, Qingdao cool special intelligence, Zhejiang Zhong Yin fashion and other enterprises. Among them, Qingdao cool intelligence is also in the state of suspension review. Whether these garment enterprises can smoothly visit the capital market, what new faces or "old" faces will appear in the queuing list? In the final analysis, it depends on the "quality of development", because the IPO audit reflects the general requirements of the capital market development to improve the quality of listed companies. Only in line with this requirement, queuing garment enterprises can smoothly cross the threshold of listing, and speed up the pace of enterprise development with the help of capital market.
According to IPO, as early as the news, fashion apparel retail companies Shang Jin International Holdings submitted the main board listing application to HKEx on 5 August.
