News from China No. 1 Textile Network on November 27 ( Reporter Martin Report): Zhejiang Semir Clothing Co., Ltd. (hereinafter referred to as “Semi Clothing”) announced today (November 27) that the company’s controlling shareholder Mr. Qiu Guanghe transferred his shares to Mr. Xu Bo in a bulk transaction on November 26. He held 5.3712 million shares of the company’s stock, accounting for 0.1991% of the company’s total capital stock; he transferred 2.6856 million shares of the company’s stock held to Mr. Shao Feichun, accounting for 0.0996% of the company’s total capital stock.
As of November 26, shareholder Qiu Guanghe completed the purchase of 8.0568 million shares through block transactions on the Shenzhen Stock Exchange. After the reduction, Qiu Guanghe held 16.62% of the shares before the equity change, and the shareholding ratio after the equity change was 16.32%.
The announcement shows that the average price of Qiu Guanghe’s shareholding reduction this time is 8.01 yuan/share , the amount of cash reduction reached 64.535 million yuan.
Semir Clothing explained that based on the company’s director and general manager Mr. Xu Bo and the company’s director Mr. Shao Feichun based on the Confidence in the company’s future development prospects and reasonable judgment on the current stock value have led to the decision to purchase and hold Semir Apparel stocks for the long term. In order to support the healthy development of the company and encourage and satisfy the wishes of the company’s directors and senior executives to purchase and hold the company’s stocks for a long time, Qiu Guanghe made the above move.
First Textile Network reporter noticed that on November 25, Semir Clothing released The announcement shows that due to personal needs, Qiu Guanghe recently pledged the 37.5 million shares of Semir Apparel he held, accounting for 8.37% of his shareholding and 1.39% of the company’s total share capital, to the Wenzhou Branch of China CITIC Bank Co., Ltd. The staking period is from November 24, 2020 to November 16, 2023.
Baidu information shows that Qiu Guanghe is a native of Wenzhou, Zhejiang. He is the chairman of Semir Group Co., Ltd. and the chairman of Zhejiang Semir Clothing Co., Ltd. In December 1996, Qiu Guanghe founded Semir. Through integration, innovation and win-win development, it has rapidly grown Make the enterprise stronger and bigger. The company’s two main brands, Semir and Balabala, are respectively the leading brands in China’s casual clothing field and China’s children’s clothing field. The former enjoys “a reputation for its rapid development and continuous innovation in business models.” Semir is known as “Speed” and is considered to have “changed the pattern of China’s casual wear industry”; the latter enjoys the reputation of “the Miracle of Balabala” due to its sudden emergence and rapid growth. In 2011, Semir was successfully listed on the Shenzhen Stock Exchange and became the leading clothing listed company in the domestic A-share market in terms of market value and profitability.
Industry insiders have previously said that as a typical family business, the control of Semir Clothing Power has always been absolutely controlled by the Qiu family. Qiu Guanghe and Qiu Jianqiang and Qiu Yanfang are in a father-son and father-daughter relationship. Zhou Pingfan, Dai Zhiyue, and Zheng Qiulan are the spouses of Qiu Yanfang, Qiu Jianqiang, and Qiu Guanghe respectively. Qiu Guangping and Qiu Jianqiang are brothers. The actual controllers of the company, Qiu Guanghe, Zhou Pingfan, Qiu Yanfang, Qiu Jianqiang and Dai Zhiyue, jointly hold 100% of the shares of Semir Group Co., Ltd.
Observation shows that some of the companies held by Qiu Jianqiang and Qiu Guanghe The shares are pledged as guarantee for its own capital needs. As of July 31, 2020, the cumulative number of shares of listed companies held by Qiu Jianqiang that had been pledged (frozen, auctioned or set up in trust) accounted for 4.69% of the company’s total share capital. The cumulative number of shares of listed companies held by Qiu Guanghe had been pledged (frozen). , auction or set up trust) accounted for 9.71% of the company’s total share capital.
In 2019, Semir Apparel established a management team of all-professional managers. Increase the number of senior executives, continue to improve the corporate governance structure, and enhance the level of corporate governance. Four new deputy general managers were added, bringing the total number of senior executives to seven. Members of the Qiu family will no longer serve as senior executives; in terms of human resources, a new chief human resources officer was appointed, who has served in Procter & Gamble, AstraZeneca, Unilever, and Shimao Human resources executives and vice presidents of well-known companies such as the Group and Mobike; recruiting co-general managers. He has work experience in the United States, Singapore, and China. He has worked for Nike Group for 22 years and has rich experience in brand marketing and category management; new Added a deputy general manager with a background as CEO of a computer network company.
Public information shows that Semir Apparel mainly has two major businesses: taking the Semir brand as The representative adult casual clothing and the children’s clothing represented by the Balabala brand, including:
Seima brand setting61.47%; factors including reduced inventory balances and reduced agent credit are also the main reasons for the substantial increase in monetary assets.
In addition, the balance of contract liabilities increased, with the closing balance of 325 million yuan, compared with the opening balance 186 million yuan, an increase of 74.69%, mainly due to the active payment of customer orders during the reporting period and the increase in the company’s advance payments from customers. The company has sufficient cash flow and a solid and stable financial foundation, which is an important basic guarantee for Semir Apparel to withstand various operating risks, including the impact of the epidemic.
Seima Apparel estimates that its net profit in 2020 will be between 620 million and 930 million , a year-on-year decrease of 40-60%. Shi Hongmei believes that benefiting from last year’s low base, coupled with the impact of excluding Kidliz this year and the cold winter expectations, the profitability of Semir Apparel in the fourth quarter is worth looking forward to. Starting from 2021, with the terminal recovery and inventory digestion, compared with this year’s low base, the improvement in the statement side is very flexible.
First Textile Network reporter learned from Semir Apparel that the company believes that the three The continued improvement in quarterly revenue and profits based on the first half of the year is mainly due to three aspects: first, the epidemic has been effectively controlled, the economic environment continues to improve, and the pace of recovery of the clothing industry has accelerated; second, the company’s various operating measures have further improved Playing an active role, the original domestic business has continued to develop stably and healthily; thirdly, after the company divested its overseas business, it has reduced and avoided the impact of this business on the company’s performance.
Seima Apparel emphasized that with the improvement of the economic environment, consumption will be further released. The apparel industry is facing new development opportunities under the background of dual circular economy. Market resources will accelerate the concentration of industry leaders, which will help clothing brand companies in a dominant position to integrate upstream and downstream resources more efficiently, consolidate their competitiveness, and expand market share.
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