In The First Half Of The Year, Shenzhen'S Guan Hua Printing And Dyeing, Which Was 3 Million 780 Thousand Loss, Was Sold For 306 Million Yuan By Deep Textile.

Shenzhen textile (Group) Limited by Share Ltd (hereinafter referred to as "Shenzhen textile A") announced in the evening of October 17th that in order to further revitalize the stock assets, concentrate resources to do the main business and fully support the development of the main industry of polarizer, the company will sell the 50.16% stake of Shenzhen Crown China printing and dyeing Co., Ltd. in the form of public listing, with the price of not less than the value of 306 million 637 thousand and 400 yuan RMB in the Shenzhen joint property rights transaction.

The announcement shows that Shenzhen Crown China printing and dyeing Co., Ltd. was registered on 04 1989, 21, with a registered capital of 10 million yuan. The business scope involved the lease and management of its own property, and the production and operation of all kinds of textile finishing and finishing fabrics (including cotton, wool, silk, hemp, all kinds of synthetic fibers and their blended knitted and colored fabrics). Shenzhen textile A, Qiao Hui Industrial Co., Ltd. and Shenzhen Sha Tou Jiao Industrial Company respectively invested 4 million 500 thousand yuan, 3 million yuan and 2 million 500 thousand yuan total 10 million yuan to form a joint venture company. The three party held the 45%, 30% and 25% shares of Guan Hua company respectively.

According to public information, the main business of Shenzhen textile A is the high-tech industry represented by polarizer with liquid crystal display, the management and operation of its own property and the retained high-end textile and garment business.

In 2018, Shenzhen textile A achieved a business income of 1 billion 272 million 356 thousand and 800 yuan, a decrease of 13.77% over the same period last year, a total loss of 53 million 423 thousand and 100 yuan, a decrease of 162.89% over the same period last year, a net loss of 22 million 980 thousand and 600 yuan attributable to the owners of the parent company, a decrease of 143.54% over the same period last year. In the first half of 2019, Shenzhen textile realized 1 billion 8 million 863 thousand and 300 yuan, an increase of 534 million 600 thousand and 900 yuan over the same period last year, an increase of 112.72% yuan over the same period last year, and a total profit of 4 million 46 thousand and 200 yuan, representing a decrease of 112.72% yuan compared with the same period last year.

Shenzhen textile A predicts that the net profit attributable to the parent company in the first three quarters of 2019 is 17 million 766 thousand and 400 yuan, up 12 million 268 thousand and 800 yuan in the same period last year, an increase of 44.81% over the same period last year. The company said the above prediction was based on the following reasons:

1. During the reporting period, the net profit attributable to shareholders of listed companies increased a bit from the same period last year, mainly due to the increase in non recurring gains and losses. The company expects the impact amount to be about 28 million 984 thousand and 100 yuan, mainly for government subsidy income and disposal income of illiquid assets.

2, during the reporting period, the company's operating income increased considerably over the same period last year. The main reasons were: first, the TFT-LCD two phase 6 line was put into operation in the second half of 2018, the capacity was released in the current year, the sales volume increased year-on-year; two, the import trade business that had been prepaid equipment in the year 2018 was completed in the current reporting period, and the bulk trade income increased from the same period last year. However, the price of Polaroid products has been running low after the sharp decline in 2018. The main product order structure adjustment has not reached the expected level. In addition, the price of TN/STN products has been greatly reduced due to the shrinking of the market sales, and the increase of the purchasing cost and the increase of exchange losses caused by the depreciation of the RMB exchange rate have offset the contribution of its sales increase to net profit.