New Textile And Other 6 Well-Known Shanghai Textile Enterprises Debt Exceeds 5 Billion, The Eastern Venture Capital Intends To Raise 1 Billion 350 Million To Win!

The Oriental international venture Limited by Share Ltd (hereinafter referred to as "Oriental venture") issued a major asset restructuring report on October 28th night. It intends to set up a brand business and put it into the foreign trade and logistics business of its controlling shareholder, Orient International Group (hereinafter referred to as "Orient International"), and it will integrate some of the trade and logistics businesses of the major shareholders. It is believed that this major asset reorganization will put high-quality assets in parallel with the bad assets which are still in a state of loss, which is conducive to further enhancing the profitability of the Oriental venture and concentrating resources better on the main business and giving full play to the competitive advantage.

The company's 60% share of the start-up Brand Company is replaced by the equivalent part of the 100% stake in the holding company of Orient International and the 100% equity interest of the foreign trade company. The difference between the above mentioned assets and the transaction price of the foreign exchange company is purchased through the issue of shares and cash payment to the Orient International Group, and the textile group has purchased 100% of the new spinning and weaving company, 100% of the decoration company and 100% of the international logistics company by issuing shares and paying cash to the textile group. At the same time, it intends to raise the matching funds to no more than 10 non specific public development shares of 10 specific investors, not more than 1 billion 350 million yuan. The fund-raising will also be used for the construction of the garment processing base project in Ethiopia except for the cash consideration paid for the transaction, the replenish of listed companies and the capital assets of the listed company and the repayment of debts. Announcement shows that Oriental venture plan

Orient venture is a comprehensive listed company integrating goods trade, big health industry and modern logistics as well as industrial operation and capital operation. The company has developed into a large state-owned holding enterprise with strong strength in domestic and foreign trade, modern logistics, asset management and investment management from the start of traditional foreign trade enterprises.

The import and export trade of textile and garment products is the traditional main business of the company. After years of efforts, the company already has a complete industrial chain from textile and apparel products at home and abroad, proofing design, raw materials and finished products procurement, factory production to global logistics and distribution. The company is one of the largest exporters of textiles and garments in China. The products of the company and its subsidiaries cover all kinds of clothing and textile products. It has many well-known brands, and has established a wide range of business cooperation channels in the international and domestic markets, and has a good reputation in the market.

With the completion of this transaction, foreign trade company, Rong Heng company, new textile company, decoration company and international logistics company will become a wholly owned subsidiary of the listed company. After the completion of this transaction, the scale of foreign trade and logistics business of listed companies will be greatly improved, and the geographical layout of business will also be further expanded.

Dongfang International Group, which is jointly reorganized by textile group and former Orient International Group, is a large comprehensive enterprise group supported by the Shanghai state owned assets supervision and Administration Commission, which is supported by the fashion industry, health industry and supply chain service. It is supported by technology industry, industrial real estate and financial investment. It is China's largest textile and Garment Group and the largest textile and garment export enterprise. Orient International Group ranked 175th in the top 500 of Chinese enterprises in 2018, 500 in China's service enterprises and seventy-fifth in China's 100 largest multinational companies.

By the end of 2018, Dongfang International Group had total assets of 67 billion yuan and 86 thousand employees (64% of overseas staff). In 2018, it achieved operating income of 111 billion 500 million yuan, and imports and exports amounted to 8 billion 900 million US dollars. Orient International has 96 overseas business organizations, distributed in 29 continents and regions in five continents, 480 enterprises, 29 listed companies (Oriental venture, Shanghai Shenda Limited by Share Ltd, Shanghai leading group (Group) Limited by Share Ltd and Luen Thai Holdings Limited).

Shanghai Orient International brand management Limited by Share Ltd: mainly belongs to the clothing trade industry, mainly engaged in the clothing sales of light luxury women's brand "Hangers". The sales mode is divided into direct battalion, joint venture with customers, online e-commerce, special sale channels.

Dongfang International Group Shanghai Foreign Trade Co., Ltd.: founded in 1988, mainly engaged in import and export business, has a good reputation in the industry, and has great advantages in financing and credit capabilities, customer channels, import and export professional and supply chain services, talent team and so on. In recent years, foreign trade companies have been actively carrying out business innovation and business expansion under the concept of innovation driven and transformational development. While deepening the development of traditional import business, we should actively expand new businesses that import mainly consumer goods, strengthen domestic and foreign trade linkage, and expand the scale of domestic sales of world famous brands.

Orient International Group Shanghai Rong Heng International Trade Co., Ltd.: founded in 1992, it has already formed an export business team mainly based on underwear, medicine and chemical industry, and an import business team mainly based on medical equipment and amusement facilities. Rong Heng holds and controls a relatively complete product supply chain system, which has professional competitive advantages in underwear business and pharmaceutical and chemical industry.

New textile company: specializing in import and export trade. For more than thirty years, the new textile company has been innovating and transforming constantly, and has constantly explored new forms of foreign trade. In the course of many years of operation, the new spinning and weaving company has established good corporate credentials and established a global industrial chain layout in the field of textile and apparel products. At the same time, under the guidance of the national strategy of the fair, it has accelerated the pace of the transformation and development of import business, and has laid a solid foundation for speeding up the development of new textile industry and taking the comprehensive development of foreign trade. It is one of the largest single import and export companies in Shanghai.

Shanghai textile decoration Co., Ltd.: founded in December 1990, after years of development, it has now formed a business layout focusing on sweater business, focusing on clothing and other textile exports, with risk controlled import business as the growth point. The decorating company has established a wide range of economic and trade relations with dozens of countries and regions in the world through the multi-channel and deep excavation of international economic trade and cooperation, utilizing the advantages of global sourcing and supply chain management, and strives to become the leader of the global sweater industry.

Shanghai Textile Group International Logistics Co., Ltd. is mainly engaged in logistics business, and is also engaged in some import business. The international logistics company has abundant warehousing resources, and its storage base is located in Pudong, Fengxian, Qingpu and Jiading of Shanghai. It has a modern three-dimensional shelf warehouse, which can provide diversified and integrated logistics supply chain services for enterprises.

Dongfang venture said that the reorganization will be injected into the assets of Dongfang International Group, which is part of trade and logistics assets. After the completion of this transaction, orient venture will further focus on the trade and modern logistics industry. The scale of business in the trade and modern logistics will increase substantially, which will help to enhance the competitive strength of the listed companies in the trade of goods and modern logistics. At the same time, through this reorganization, it will help reduce the potential competition between the Oriental International Group and the listed companies after the original and joint reorganization.

After the completion of this transaction, the target company will become a subsidiary of the listed company. Dongfang venture will help the target company to improve its internal management system that meets the requirements of the domestic listed companies and the market development requirements, and will fulfill the necessary procedures in accordance with the internal management system of Listed Companies in matters such as disposal of important assets, purchase and major external investment. After the completion of this transaction, Dongfang venture will maintain the stability of the existing internal organizations of the listed companies and the target companies, and make dynamic optimization and adjustment according to the needs of various businesses, establish relevant rules and regulations to meet the requirements of the listed companies, and achieve the unification of internal management.

According to the insiders, the total assets, net assets and operating income of the Oriental venture will be substantially increased along with the quality of the underlying assets. The profit level and earnings per share will be further enhanced. The results show that in the first three quarters of 2019, the business income of the Oriental venture was 12 billion 900 million yuan, up 1.2% over the same period last year. The net profit attributable to shareholders of the listed company was 94 million 270 thousand yuan, down 9.34% from the same period last year. Basic earnings per share of 0.18 yuan.