Baron East, Which Has 900 Thousand Spindles In Vietnam, Has A 6 Billion 200 Million Revenue Last Year And A 3 Million 10 Thousand Stake In Ma Jianrong.

The domestic leading enterprise of colored spinning, the Bailong Oriental Limited by Share Ltd (hereinafter referred to as "Bailong Orient"), has recently announced that due to the needs of business development, the company rents to the affiliated Ningbo nine cattle Cci Capital Ltd (hereinafter referred to as "Ningbo nine cattle"), which is located at 1301 room, 1175, Xizu Road, Shanghai (construction area). One hundred and twelve point eight Square), room 1302 (building area) One hundred and twenty-one point three two square It is used for the staff quarters of the Shanghai office for 3 years.

Referring to the rental price of similar sections in Shanghai, the two sides agreed that the monthly rent is 18000 yuan, and the rent payment is paid annually. During the lease period, the water, electricity, gas and cable TV charges incurred by the house will be borne by the charterer Limited by Share Ltd. The property management fee is borne by the lessor Ningbo nine cattle.

Yang Weixin, one of the actual controllers of the nine cattle Department of Ningbo, Hong Pan, the director and deputy general manager of the company directly under the control of Mr. Hong Pan, is the supervisor of the nine oxen in Ningbo. According to the relevant provisions of the Listing Rules of the stock exchange of the stock exchange, the transaction constitutes a related transaction.

According to public information, Baron East is one of the leading enterprises in the field of color spinning in China. The company was founded in 2004. It was founded in 2004. It was founded in 1993. In 1998, the company began to carry out fiber dyeing and cotton spinning business through horizontal acquisitions. In 2003, the company began to expand upstream, carry out cotton acquisition, cotton production and processing, etc. The transfer of shares of six Xinjiang subsidiaries and plans to put 500 thousand ingot capacity in the Bailong District of Vietnam. During the same period, the company upgraded its technology and developed EcoFRESHYarn products in collaboration with Dow Chemical. In 2017, the Bailong B yarn project started construction, and the total capacity reached 1 million 400 thousand spindles as at the end of 2018. The company took the lead in carrying out the capacity layout in Vietnam, and now Vietnam's total capacity has already accounted for the total output of the company. About half the energy.

Financial reports show that in 2019, Baron East completed its business revenue. Sixty-two point two two Billion yuan, an increase over the same period last year 3.73% To achieve net profit. Two point nine eight Billion yuan, down from the same period last year. 31.93% 。 During the reporting period, the gross profit margin of the company was 15.7% Year-on-year reduction Three point eight Net interest rate is 4.8% Year-on-year reduction Two point five A percentage point.

From the perspective of business structure, non colored spinning is the main source of revenue for Baron East. Forty-two point four Billion, revenue accounted for 73.2% Gross margin is 20.2% 。

According to the products, the cotton yarn income during the reporting period Forty-two point three nine Billion yuan, down compared with the same period last year 10.81% Accounting for 68.1% Non colored spinning income Fifteen point five one Billion yuan, an increase year on year 58.78% Accounting for 24.9% Other business income Four point three one Billion yuan, an increase year on year 60.93% Accounting for 6.9% 。

Regionally, during the reporting period, the overseas business of Baron East increased year by year, and overseas income. Thirty point nine two Billion yuan, an increase year on year 8.69% Accounting for 49.7% Mainland China revenue Twenty-six point nine nine Billion yuan, year-on-year reduction 6.46% Accounting for 43.4% Revenue from other regions Four point three one Billion yuan, year-on-year reduction 60.93% Accounting for 6.9% 。

During the reporting period, due to the expansion of factory capacity in Vietnam, the sales volume of yarn increased more than that of the previous year. The proportion of yarn sales increased, which led to sales growth, while the main business revenue increased little. The gross profit margin of the main business decreased as the gross profit of the yarn was relatively low.

The first textile network reporter learned here that there are 1 million 600 thousand spindles in the eastern part of Baron, of which Vietnam is about 70:90. Domestic capacity is distributed in Jiangsu Huaian, Zhejiang Ningbo, Shandong Caoxian, Zoucheng, Hebei south, and Foshan and Shenzhen. Vietnam is divided into four regions: A, B, C and D. The current A area is 500 thousand, B area 200 thousand, CD area 200 thousand, of which 200 thousand C spindle production capacity has been put into operation in C and D workshop in 2019. It is estimated that in 2020, 100 thousand spindles will be put into operation in B area, forming the total scale of 1 million spindles in Vietnam production base.

Up to now, the production capacity of 200 thousand spindles of C and D workshop in Vietnam has been put into production according to plan. The total production capacity of Vietnam Bailong is 900 thousand spindles, accounting for 60% of the total capacity of the company. During the reporting period, bron completed its operating income. Thirty-two point two four Billion yuan, an increase over last year. 30.90% To achieve net profit. Two point one two Billion yuan, down compared with the same period last year. 21.77% 。

Ding Shijie, an analyst with Guoxin Securities, said that under the influence of trade friction, the domestic capacity of the Baron declined, resulting in a profit margin pressure. The increase of overseas production capacity and the production of billet yarn accounted for the overall profit margin. This year, the epidemic still poses challenges to the operation. However, it is observed that the profitability of the leading position and the continuous product innovation of the Bailong east color and the advantage of the sea. The expansion of external capacity and upgrading of production capacity conform to the trend of global layout and rapid response of the textile industry chain, and the long-term profit space has great potential for improvement.

Baron east also said that the company will continue to promote new product development, continuous technological transformation input, stabilize product quality, reduce production costs, ensure quality stability, and strive to achieve rapid response. At the same time, we should further adjust and improve the product structure of Vietnam Bailong, enrich product lines, actively adhere to brand and market demand, and expand the use of yarn.