340 Million! China'S Longest History Of Shanghai Seven Quilt Transfer, Is Expected To Achieve Investment Income 264 Million

Shanghai Shenda Limited by Share Ltd (hereinafter referred to as "Shenda shares") issued a notice on February 18th, saying that the third session of the tenth board of directors held in October 30, 2019, the fourth meeting of the tenth board of directors held in November 13, 2019 and the second interim shareholders' meeting held in November 29, 2019 approved the adoption of Shanghai's joint property rights transaction. The assessment value below the record of state assets is 282 million 327 thousand yuan, and the 100% shares of Shanghai seventh cotton mill Co., Ltd. (hereinafter referred to as "seven cotton mill Limited") are publicly listed and transferred.

As at August 31, 2019, the book value of the above rights and interests was 76 million 269 thousand and 900 yuan, the assessed value was 282 million 327 thousand yuan, the appreciation value was 206 million 57 thousand and 100 yuan, and the appreciation rate was 270.17%.

In January 20, 2020, Shanghai Yun Rong Real Estate Co., Ltd. (hereinafter referred to as "Yun Rong real estate") was quoted as the transferee of the transaction with a price of RMB 340 million 427 thousand yuan. In January 21, 2020, Shen Da shares signed a contract of property rights with Yun Rong.

Yun Rong estate was established in September 10, 2019. Its business scope covers real estate development and operation, self owned equipment leasing, property management, housing leasing management, computer system integration, technology development, technical consultation, technical service, technology transfer, computer software and auxiliary equipment, electronic products, and mechanical equipment in the fields of computer science, information technology, and electronic technology. Preparation, sales of communication equipment, business information consultation, maintenance and repair of air-conditioning equipment, etc.

Shen Da shares said that the transfer transaction estimated investment income (including tax) about 264 million yuan, the impact of this transaction on the company's 2020 profit and loss is based on the audit data of accounting firms.

First textile network has reported that Shanghai seventh cotton mill Co., Ltd. is a wholly-owned Shenda shareholding company established in March 30, 1990. In order to further deepen the reform of state-owned assets, promote the healthy development of enterprises and safeguard the legitimate rights and interests of workers, Shenda shares were renamed and renamed to seven cotton in August 22nd of this year. The "Shanghai seventh cotton mill" was renamed "Shanghai seventh cotton mill Co., Ltd.". The type was changed from "ownership by the whole people" to "limited liability company (wholly owned by a non natural person investment or holding company)".

According to the data disclosed by Shen Da in October 29, 2005, Shanghai seven cotton has 70 thousand spindles and 25 thousand line ingots. The products mainly include series yarn sewing thread such as ring yarn, twister yarn, polyester core wire and so on, with an annual output of about 8000 tons.

According to the first textile net, Shanghai seventh cotton mill Co., Ltd. was founded in March 30, 1990, with a registered capital of 61 million 430 thousand yuan. Its main business is the production and sale of finished products of spinning thread sewing line, its own house leasing, its own equipment leasing (not allowed to engage in financial leasing), exhibition and display services, property management, design, production, agency and publication of various kinds of advertisements.

　　 ? Baidu's data also show that the seventh cotton mill in Shanghai has evolved as follows: in 1919, Baocheng cotton mill first plant was added to two factories in Baocheng mill in 1920, and one or two factories in 1926 (and Japanese capital). 1931, the fifth, sixth, seventh factory of Japanese Textile Co., Ltd. (Japan capital) (1944 Hua Hua spinning plant type fifth factory was changed to Guang Lai sew workshop) then 1946 China textile construction company Shanghai seventh textile mill. To 1950, the state-run Shanghai seventh cotton mill.

　　 In 1997, the bankruptcy of pallet enterprises in Shanghai thirty-seven plant, now has 700 million spindles, 30200 ring spindles, and 9998 times the spindle. The main product is "double tiger" pure polyester sewing thread, which has been awarded the silver award and has the characteristics of "the longest history, the largest size, the best variety and the best quality" in China. Especially since 1990s, it has been carrying out technological transformation, and has introduced the world's progressive doubler, automatic winding machine, high speed doubling machine and cleaning equipment. The situation of direct export has been developing rapidly. The products are sold to more than 20 regions, such as Hongkong, Taiwan, Europe and the United States and the Middle East.

According to public information, Shenda group is a diversified operation company mainly based on import and export trade and industrial textiles research and manufacture. Its main business includes industrial textiles business mainly based on automotive interior decoration and new textile materials business, as well as textile import and export trade and domestic trade.

In the first three quarters of 2019, Shenda shares achieved a business income of 11 billion yuan, down 9.01% compared with the same period last year. Net profit attributable to shareholders of listed companies was 369 million yuan, up 282.01% over the same period last year. Basic earnings per share of 0.4329 yuan.