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Garment Industry Has Been Declining Year By Year, Garment Enterprises Have Diversified Development.

2013/3/11 8:36:00 27

Clothing Enterprise Assets Reorganization Clothing Enterprise Diversification Development Clothing Enterprise Development Strategy

< a > href= > //www.sjfzxm.com/news/index_c.asp > > dress > /a > the example of enterprise diversification is not uncommon. It involves fields such as real estate, automobile, financial investment and new energy. However, Chinese clothing (000902.SZ) has changed its main business to the production and sale of phosphatic compound fertilizer directly through the way of assets reorganization.

main business performance declined year by year

China apparel launched a major asset restructuring plan last Friday, saying it intends to make an equivalent replacement of its existing assets and liabilities, and the 100% stake of Xinfeng Feng, held by Yang Feng shares.

After the completion of the paction, Yang Feng shares will own 45.5% of Chinese clothing and become the largest shareholder of the company.

Xinyang Feng fertilizer industry is mainly engaged in phosphate fertilizer, compound fertilizer, organic inorganic compound fertilizer and other businesses.

This also means that after the reorganization, the main business of Chinese clothing will also be pformed from textile printing and dyeing and textile trade to production and sale of phosphatic compound fertilizer.

the above reorganization plan consists of three parts: major asset replacement, issuance of shares to purchase assets, and issuance of shares to raise matching funds.

The notice shows that Chinese garments have equal assets replacement with all the assets and liabilities (including contingent liabilities) owned by the 45 natural persons, such as Yang Feng shares and Yang Caixue, and so on. They are jointly held by Xinyang Feng fertilizer Co., Ltd. and jointly held by them. The proposed assets will be purchased at the fair price by the Chinese apparel giant shareholder, China Heng Tian group or its designated third party, after the undertaking of the foreign shares of the company.

according to the plan, Chinese clothing also intends to issue no more than 30 million shares, and raise matching funds not exceeding 25% of the total paction amount and not more than 300 million yuan. The funds are intended to supplement the liquidity needed for the main business development of the company and improve the integrated performance of the reorganization.

reporter found that the performance of Chinese clothing has been declining year by year.

In 2011, when we just picked up star a href= "http://xm.sjfzxm.com/" > hat > /a >, 2012 performance express also showed that the company achieved total revenue of 1 billion 565 million yuan last year, down 11.82% compared with the same period last year. The net profit attributable to shareholders of listed companies was -4417.48 million, down 1608.34% compared to the same period last year. It has become the 25 largest clothing listed company that has disclosed 2012 performance notice, with the largest loss.

at present, the business composition of Chinese clothing is divided into about 80% of import and export trade and about 20% of textile printing and dyeing.

data show that in 2010, the gross profit margin of China's clothing import and export trade was 5.04%, and the gross profit margin in 2011 dropped to 4.81%. By the first half of 2012, the gross margin of import and export trade fell to 3.49%.

The gross interest rate of "a href=" //www.sjfzxm.com/news/index_p.asp "> textile < /a > printing and dyeing has been hovering in the 7%~8% range.

clothing processing business is also a loss. In 2010, the gross profit margin of Chinese clothing was -62.12%, and after 2011, the garment processing business with negative gross margins was continuously reduced to the import and export trade sector.

phosphorus and compound fertilizer is also unpromising. /p >

however, a chemical industry researcher told reporters that the phosphate and compound fertilizer industry has also been declining in recent years, and the boom is far less than four or five years ago.

"A lot of big enterprises that make phosphatic compound fertilizer feel difficult. It is hard to say whether there is any experience of Chinese clothing at this time."

The researcher said.

from the second half of 2008, the global financial crisis has had a negative impact on the phosphate compound fertilizer industry.

Since 2011, the continued escalation of the European debt crisis has had a negative impact on the export trade of the phosphate compound fertilizer industry.

secondly, due to the influence of crop planting plan, purchasing mode and weather conditions, the phosphate fertilizer industry presents significant seasonal fluctuations, and the market demand is divided into light season.

Seasonal characteristics of the industry may lead to uneven production schedules and increase the risk of cash flow reserve and sales revenue being difficult to achieve in time.

in addition, since 2008, the state has strongly intervened in the export of chemical fertilizers, raising the duty of urea and DAP to 35% and 30% respectively. In April of the same year, 100% special tariffs were imposed on all chemical fertilizers, and the special tariff of nitrogenous fertilizer products was raised to 150% in August the same year.

Since then, it has been readjusted.

because of the uncertainty of the national fertilizer export policy, if the export is subject to policy restrictions, it will make fertilizer production capacity supply large quantities to the domestic market, resulting in fierce competition, which will have a great impact on the competition pattern and production and operation of the industry.

for these risks, Chinese clothing also announced in the announcement that in the next 2~3 years, there will still be some uncertainties in the industry boom that will be injected into asset management, which is affected by macroeconomic conditions.

, however, the reporter found that even though the whole industry was less prosperous than in the early years, in the year of 2010~2012, Xinyang Feng fat realized net profit of 382 million yuan, 476 million yuan and 371 million yuan respectively, or much higher than that of Chinese clothing.