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Change The Seller To Fill In The Loss Of Chinese Clothing Pfer To Shunde

2008/8/13 15:31:00 26

Chinese Clothing Shunde Chinese Clothing

In the first half of this year, the average profit margin of China's garment industry declined, and the growth rate of production, efficiency, investment and exports slowed down due to the lack of demand and rising cost.

Yesterday, the China clothing release reported that the company achieved operating income of 965 million yuan in the middle of 2008, down 2.72% compared to the same period last year. Net profit -1248.62 million yuan, compared with the -555.89 million in 2007, the loss increased by 124.62%; the company's basic earnings per share were -0.048 yuan.

China apparel secretaries official briefed reporters that in the first half of the year, the company's textile and garment trade and garment manufacturing and processing achieved 844 million yuan and 2 million 27 thousand and 800 yuan respectively, with gross margins of 3.34% and -56.28%.

And yesterday, together with the China Daily, there was also an agreement on the pfer of shares of Chinese clothing enterprises affiliated to Shunde Zhongfu textile printing and dyeing company. The pferee was the former vice president of Chinese clothing, Yao Derong.

Wujiang Deyi fashion fabrics Co., Ltd. and MS. Shen Jinna provide guarantee for the pfer of shares. The company intends to pfer the 70% stake in Shunde Zhonghua to Mr. Yao Derong, whose pfer price is 48 million 925 thousand yuan and 39 million yuan respectively.

Why should Chinese clothing be pferred from Shunde Chinese clothing?

China's clothing announcement did not specify.

According to the commercial and commercial information, in December 2003, China invested 42 million yuan in its garments and 18 million yuan in color star international Co., Ltd., which was jointly established by Shunde Zhonghua Garments Co., Ltd.. Before last year, Yao Derong, vice chairman of China Garments, served as director and general manager of Shunde Zhongfu.

"The controlling shareholder of Chinese clothing has its own printing and dyeing company in Hangzhou, which has a business overlap with Shunde Zhongfu textile printing and dyeing company."

Reporters linked to Yao Derong, told reporters that in the increasingly severe trade environment, this move is conducive to improving the quality of Chinese clothing assets, while he has nothing to do with the color star international wages.

"We can not exclude the possibility that Chinese clothing will sell shares of subordinate companies to fill in losses."

A Chinese market analyst who declined to be named said: "Chinese clothing has seen losses in 2007, and the situation in 2008 is more severe. The newspaper has lost about 12000000. If it continues to lose money this year, it will be ST.".

If the pfer is successfully completed, Shunde's Chinese clothing will be controlled by Yao Derong 70%, and Caixing international holds 30% stake.

Statistics show that the color star international is destined to have a share capital of only 100 thousand Hong Kong dollars. In 2003, it was jointly established with Chinese garments and established in Shunde to serve the assets of Foshan Lixian textile and apparel Co., Ltd., which was originally auctioned by the Foshan intermediate court.