Zhejiang Fortune 359 Million Sells Shares Of Textile And Dyeing Companies

A series of malignant sequelae continue to ferment during the outbreak, resulting in a sharp reduction in downstream demand and a reduction in orders in textile and dyeing industries.

Today (June 30th) evening, the 30 largest Chinese printing and dyeing industry -- Zhejiang Fu run Limited by Share Ltd (hereinafter referred to as "Zhejiang Fu run") announced that in order to focus on resources to develop new businesses, the company intends to transfer the 46% stake in Zhejiang Fu run printing and dyeing Co., Ltd., and 51% shares of Zhejiang fortune Textile Co., Ltd. in a public listing. The announcement shows that Zhejiang's Ru Yun is publicly listed. Let the first transfer price be no less than 359 million yuan.

Reporters learned that, from the perspective of cost scale advantages, Zhejiang fun's printing and dyeing company and textile company are the first national water saving benchmarking enterprises. At the same time, the printing and dyeing company is still the top 30 in the national dyeing and printing industry, the Ministry of industry's printing and dyeing industry access enterprises, Zhejiang's key industries, environmental protection "lead" demonstration enterprises, and Shaoxing's first green benchmarking enterprises, which is confirmed by the State Ministry of industry and commerce as cleaner production. The model enterprise is appraised as the best model enterprise of "EU China Textile and dyeing industry sustainable development project". Textile companies were selected as green enterprises in Zhejiang Province, Zhejiang industrial circular economy demonstration enterprises and Shaoxing environmental friendly enterprises.

The first textile net reporter learned from the announcement that the Zhejiang Fu run printing and dyeing Co., Ltd., which was transferred by Zhejiang Fu run, was founded in May 22, 2003. The company is located in Chengnan Industrial Zone, Zhuji City, Zhejiang Province, with a registered capital of 12 million US dollars. Its business scope covers textiles, clothing manufacturing, processing and printing and dyeing; and sales: textile raw and auxiliary materials, chemical raw materials, machinery and equipment, general cargo transportation and so on.

According to the financial report, as of December 31, 2019, the total assets of the printing and dyeing company were 937 million yuan and the net assets were 356 million yuan. In 2019, the printing and dyeing operation of the company reached 1 billion 196 million yuan and the net profit was 74 million 903 thousand yuan. As of March 31, 2020, the total assets of Fu run printing and dyeing were 1 billion 20 million yuan and the net assets were 368 million yuan. In the first quarter of 2020, the operation of the printing and dyeing company was 259 million yuan and the net profit was 11 million 566 thousand and 400 yuan.

The Zhejiang Fu run Zhejiang Textile Co., Ltd. was established in December 9, 2003. The company is located at 29 north two ring road, Tao Zhu street, Zhuji, with a registered capital of 8 million US dollars. The company sells all kinds of printed and dyed knitted fabrics. The products mainly include cotton and woven fabrics. Among them: cotton products mainly include cotton jersey, cotton rib cloth, cotton spandex, rayon spandex and building. Such products as poplin, gauze card, satin, fine cloth and elastic cloth are the main products of the woven products. The customers are mainly Shanghai Xiao zhe Trading Co., Ltd., Qianjiang Jiaxing Garments Co., Ltd., Zhejiang big black shark Knitting Technology Co., Ltd.

Fu run dyeing and printing company covers an area of more than 150 mu and employs nearly 1200 people. The company has many years of printing and dyeing experience. It is a high-tech enterprise integrating the development, production and sale of high-grade printing fabrics. The company has advanced equipment and comprehensive technology, and has the processing capacity of 80 million meters high grade fabric dyeing and printing. It is a first-class printing and dyeing industrial base in East China's scale and equipment level.

As of December 31, 2019, the total assets of Fu run textile were 216 million yuan and the net assets were 117 million yuan. In 2019, the profit of textiles reached 224 million yuan, and net profit was 27 million 481 thousand and 400 yuan. As of March 31, 2020, the total assets of Fu run textile were 221 million yuan and net assets 120 million yuan. In the first quarter of 2020, the profit of textiles reached 23 million 653 thousand yuan, and the net profit was 2 million 530 thousand and 500 yuan.

The predecessor of Fu run textile company is the state-run Zhuji wool textile factory, founded in 1983. Its total assets are 230 million yuan, covering more than 300 acres, with nearly 500 employees. It has the production capacity of 4 million 500 thousand M high grade worsted fabric. The main business is textile sales and dyeing processing services.

Fu run textile company has 30 years of experience in specializing in the production of worsted fabrics. It develops, produces and sells high-end worsted fabrics in the world, and equip the world's advanced worsted spinning equipment. The company has a provincial-level technology R & D center, has completed the national Torch Program, the provincial key scientific research projects, and many products have been rated as "national new products". It is the designated production enterprise of the General Logistics Department, the armed police force, the Ministry of public security, the Supreme People's court and the Supreme People's Procuratorate. Fu run textile Co., Ltd. is a Sino white textile enterprise. Its products are certified by the European eco textile "OeKoTexStandard100". It has been selected as a green enterprise in Zhejiang Province, an industrial circular economy demonstration enterprise in Zhejiang province and an environmental friendly enterprise in Shaoxing.

Finery textile products are mainly worsted fabrics, mainly used in suits and other clothing. It is mainly divided into two series: Men's clothing and women's clothing. Men's clothing is divided into glossy finishing, casual Mau, honorable silk, high count, wool jacquard, functional finishing and other series, the United States, Japan, the European Union and other countries. Women's clothing is divided into fancy yarn, piece dyeing, yarn dyeing, printing and other series, which mainly sells the domestic market.

Sell off

Our customers include Orient International Business (Group) Limited, TAKISADA-NAGOYACO., LTD, ZEENATEXTILECO., LTD, LOKAN and Shanghai Donghao New Trade Co., Ltd. The company's main suppliers include Zhangjiagang Tuo Chen wool spinning Co., Ltd., Zhejiang new neutralization wool Co., Ltd., Jiangyin Zhenxin top Co., Ltd., China International Investment Nanjing International Trade Co., Ltd. and Jiangsu Jiangnan high fiber Limited by Share Ltd.

First, according to the public information, the first textile net reporter learned that Zhejiang was founded in 1994 by state-run Zhejiang textile mill, and was listed on the Shanghai Stock Exchange in 1997. In 2011, the ownership of the Zhuji municipal government was changed to a real controller due to the original management of the state-owned enterprise restructuring, and the shareholding ratio remained stable for a long time. After the establishment of the company, textile printing and dyeing industry was the main business. In 2008, the subsidiary company increased its capital and made the sales and processing of steel pipes the second main industry. In 2016, Tae Yi Zhi also cut into the field of Internet marketing, and the two extension had improved the performance. At present, the company develops with double main business mode, while steadily developing traditional business, expanding Internet marketing boundaries and enhancing business flexibility.

According to the financial report, in 2019, Zhejiang realized its operating income of 3 billion 129 million yuan, an increase of 13.09% compared with the same period a year earlier. The main reason is that the income of the Thai company is still increased by 351 million 450 thousand yuan, the net profit attributable to the parent company is 485 million yuan, an increase of 123.94% over the previous year.

During the reporting period, the main business revenue in Zhejiang was 3 billion 82 million yuan, an increase of 13.25% over the same period last year. The main reason is that the subsidiary company Tai Yi refers to providing internet marketing and marketing data analysis and services to customers. This period increased the main business income by 351 million yuan, accounting for 54.51% of the main business revenue.

Textile sales and processing, affected by industry regulation, environmental protection upgrading, and other small and medium enterprises in the same industry, the company's orders have increased, the main business income of 666 million yuan, an increase of 5.12% over the same period.

During the reporting period, the scale of printing and dyeing production in Zhejiang was 95 million M / year, accounting for less than 0.2% of the country's printing and dyeing capacity, 86 million 840 thousand M in production capacity, 91.41% in actual utilization rate, and 4.83 percentage points lower than the capacity utilization in 2018, mainly due to the severe export situation in the textile and garment industry, resulting in a reduction in the company's orders.

During the reporting period, the gross profit margin of Zhejiang's main business was 15.05%, down 3.95 percentage points from the same period last year, mainly because the gross margin of the information service industry was 13.49%, a decrease of 5.78 percentage points compared with that of the previous year, of which 20.62% of textile sales and processing margins were reduced by 0.11 percentage points compared with the same period last year.

The report shows that Zhejiang's main business includes Internet advertising, steel pipe sales and processing, textile sales and processing, and data marketing. In 2018, its revenue reached 1 billion 146 million, 757 million, 634 million and 180 million respectively, and business income increased compared to 2017. Especially, Internet advertising grew by more than 107%. In terms of structure, Internet advertising, steel pipe sales and processing, textile sales and processing, and data marketing revenue accounted for 41%, 27%, 23% and 7% respectively. Internet advertising has surpassed traditional textile and steel pipe business, and has become the most important source of revenue for the company's revenue.

Jiao Juan, an analyst at Anxin securities, said that Zhejiang's current development is based on printing, dyeing, steel pipe sales, and digital marketing, and the development of a two wheel drive with traditional main industries plus digital technology. Textile printing and steel pipe sales are all mature industries, which are affected by the industry. The two businesses have been sluggish in recent years, and both revenue and gross profit have dropped. Benefiting from the impact of industry regulation and environmental protection upgrading, some SMEs closed down. After 2016, the market order further concentrated on the head companies represented by Zhejiang Fu run, and the traditional business revenue and gross profit of the company increased.

Under the backdrop of traditional business growth, Zhejiang Fu run has sought new growth points through its acquisition of Tai Yi. In 2016, the company acquired a 100% stake in Tai Yi Zhi by issuing shares and paying cash, and the price was 1 billion 200 million. At the same time, it raised 242 million yuan for the issuing shares of Huifeng venture capital, and issued 165 million shares in total. The issue price was 7.50 yuan / share. After the completion of the acquisition, Thailand pointed out that the financial statements in 2017 had a clear effect on the improvement of the listed companies' revenues and profits.

The first textile network reporter read the announcement learned that Tai Yi Zhi was founded in Hangzhou in 2012, and was sponsored by Jiang Yougui and Hai Peng, who founded the R & D center in three places in Hangzhou, Beijing and Silicon Valley. In 2015, he joined the Chinese Academy of Sciences to set up a joint laboratory of mass media big data analysis technology, and launched the "ADAS all media advertising monitoring system". One of the earlier companies in the field of marketing technology.

Thailand refers to its main business, including Internet marketing and marketing data analysis services, with its own marketing technology capability open platform Admatrix, digital marketing comprehensive service brand Adtime and big data application capability open platform Datamust, digital consulting research service T-data and other sub brands, committed to providing customers with big data management system, data capacity open, data application. Integrated digital business solutions such as platform customization, user label management, consumer research, brand research, media research, integrated marketing communication service, and digital marketing platform customization development.

Thailand refers to the one stop marketing platform AdMatrix, which relies on big data technology, with many years of data accumulation and algorithm advantages, to provide customers with full range of procedural solutions including RTB and PMP. Now it has been able to connect all the mainstream advertising platform at home and abroad, including Ali, Baidu, Tencent, Sohu, Iqiyi, and other mainstream advertising. Trading platform. In addition, AdMatrix provides eight marketing capabilities for advertising companies and brand enterprises, such as programmed purchase, vertical industry customization, intelligent creativity, user portrait, data service, LBS scene marketing, media resource aggregation, brand protection, etc., to fully promote the intelligent marketing of advertising companies and brand enterprises. Up to now, Tai Yi has successfully provided effective advertising and marketing services to more than 500 auto, daily chemical, fast moving products and other industries. The advertisers include HUAWEI, Geely, Amazon, COFCO, Shi Hua, and other domestic and foreign brands.

First textile network reporter noted here, Zhejiang Fu run recently said that since 2018, the company's subsidiary, Tai Yi is still involved in today's headlines and shaking platform's Internet services business and has achieved a significant increase in revenue. Only 2016-2018 years ago, Thailand still achieved a net profit of 61 million 532 thousand and 900 yuan, 86 million 672 thousand yuan, and 131 million 957 thousand and 800 yuan after the deduction of the net profit. 。 In 2019, Tai Yi still achieved operating income of 1 billion 681 million yuan, an increase of 39.6% over the same period last year.

For one of the main reasons for its growth in business revenue, Zhejiang explains that since August 2018, Tai Yi has begun to intervene in the Internet marketing service business of Tencent advertising, today's headlines and shaking platform, so the business income of these platforms in the fourth quarter of 2018 and 2019 has increased significantly. A large volume of business has led to a substantial increase in the operating income of Tai Yi in 2019. Relevant data also showed that the revenue of battalion platform in Tai Yi was 360 million yuan in 2019, up 196.80% from 2018, while Tai Yi's headline platform was 150 million yuan in 2019, an increase of 123.60% over 2018.

Judging from the observation, Zhejiang's attitude towards the transformation of Internet business is more firm. Based on the establishment of "Tai Yi Zhi Shang", the company actively layout and continue to expand the extension boundary. In December 2019, the company announced that it would invest RMB 100 million to set up Zhejiang Fu run chain Technology Co., Ltd., to invest RMB 50 million yuan to set up Zhejiang Fu run Gold Technology Co., Ltd. to expand the block chain and financial technology business; in December 20th, the "fortune chain" and "Kuninobu Yasuhito" launched a trusted computing platform to explore the application of block chain technology in the field of data privacy security. In January 2020, the rich chain joined hands with China Unicom to issue disk cards, mainly targeting community shops.

There are two groups of people, the main and community residents. According to the demand of different traffic flow, the three major packages of water disk card, site card and day card are launched to provide users with high quality and rich content of mobile network communication services.

According to the existing business layout, Jiao Juan believes that Zhejiang's resources are actively transforming under the background of the traditional Internet marketing business under the pressure of gross margin. On the one hand, we explore business innovation in the block chain and financial technology, and advance the layout of new technologies. On the other hand, based on the digital marketing capability that Tae Yi has already had, it has carried out business collaboration, and has reached a cooperation with China Unicom and China Tobacco Group to provide more marketing capabilities and technical services.

The latest quarterly report shows that as of the 31 quarter ended March 2020, Zhejiang's profit reached 644 million yuan, down 11.22% compared with the same period last year. The net profit attributable to shareholders of listed companies was 62 million 31 thousand and 500 yuan, down 64.11% compared with the same period last year. The change of net profit during the reporting period was mainly caused by the change in the fair value of the "peak cement" stocks held by the company during the reporting period.

As of the first textile network reporter today evening dispatch, Zhejiang harvest reported 12.69 yuan / share, or 5.31%, the market value of 6 billion 623 million yuan.