The sentence that the editor heard the most from textile bosses this year was: It’s so difficult for me! And the time has come to the end of the year. Recently, many companies in the industry have sold off inventory, sold trademarks, and some have transferred equity, all thinking of exiting…
1. Stop the loss and exit the clothing industry! High-end well-known brands sell off inventory and trademark rights for RMB 23.8 million
Caesar (China) Culture Co., Ltd., a listed high-end brand women’s clothing company, issued an announcement on September 15 that in order to further revitalize the company assets and optimize the asset structure. The company plans to transfer the brand clothing inventory of Caesar Culture and the corresponding supporting trademarks and other assets to Shantou Jihai Clothing Co., Ltd.
According to the announcement, the assets transferred by Caesar Culture are clothing inventory and the corresponding supporting trademark rights. Among them, the clothing inventory products are mainly men’s clothing, Women’s clothing, leather goods, etc. This inventory of goods was mainly purchased and produced by the company from 2007 to 2016. The styles are old and have been sold many times and are still unsalable. Some of the leather goods have varying degrees of oxidation, moldy leather, and stains. , broken code, deformation, etc.; the trademark rights are part of the “Caesar” series of trademarks under the company’s name, with a total of 95 items, including: 41 registered trademarks under International Classification Class 18; and 54 registered trademarks under International Classification Class 25. The two parties finally confirmed that the total transfer price (including tax) was RMB 23.8 million.
Caesar Culture stated that the transfer of inventory and trademark rights is mainly to revitalize assets, accelerate capital flow, reduce warehousing and storage expenses, reduce costs and expenses, and thereby achieve a comprehensive divestment of the clothing business , this transaction is expected to affect the company’s net profit in 2020 by -916,100 yuan.
2. The sequelae of the epidemic! The leading textile printing and dyeing company changed its name and changed its main business to seek transformation
Zhejiang Furun Co., Ltd. (hereinafter referred to as “Zhejiang Furun”) issued an announcement today (September 15) evening that the company The main business will be concentrated on Internet services, textile printing and dyeing, and seamless steel pipe processing and sales. The company’s full Chinese name is planned to be changed from “Zhejiang Furun Co., Ltd.” to “Zhejiang Furun Digital Technology Co., Ltd.” At present, the name change has been pre-approved by the Zhejiang Provincial Administration for Market Regulation.
In terms of the textile industry, the Shaoxing area where Zhejiang Furun is located is a well-known textile town in the country. The total local printing and dyeing production capacity accounts for about 1/3 of the country’s total. Relying on geographical and policy advantages, the company has a large textile business and relatively advanced equipment. Zhejiang Furun’s subsidiaries Printing and Dyeing Company, Textile Company, and Minghe Company are high-tech enterprises in Zhejiang Province. Among them, the printing and dyeing company is among the top 10 in the national printing and dyeing industry, and Entered the Ministry of Industry and Information Technology’s printing and dyeing industry approved enterprise. As of the first half of this year, Zhejiang Furun’s printing and dyeing company has a production capacity of 95 million meters per year, accounting for less than 0.2% of the national printing and dyeing production capacity. The production volume in the first half of 2020 was 33.47 million meters, and the actual utilization rate of production capacity was 70.46%, which is the same as in 2019. It decreased by 17.01 percentage points compared with the first half of the year, and the actual utilization rate of production capacity was the lowest in the past three years. This was mainly due to the continued impact of the epidemic and the Sino-US trade war, which resulted in reduced orders and increased costs.
On June 30, Zhejiang Furun announced that in order to concentrate resources on developing emerging businesses, the company planned to transfer its holdings of Zhejiang Furun through public listing. Run Printing and Dyeing Co., Ltd. has 46% equity and Zhejiang Furun Textile Co., Ltd. has 51% equity. According to the announcement, Zhejiang Furun’s first transfer price is no less than 359 million yuan. Affected by the epidemic, during the reporting period, the printing and dyeing company achieved operating income of 230 million yuan, an increase of 2.83% from the same period last year, and a net profit of 13.3864 million yuan, a decrease of 66.38% from the same period last year; the textile company achieved operating income of 52.8181 million yuan, an increase of 2.83% from the same period last year. A decrease of 33.92% in the same period last year, with a net profit of 5.122 million yuan, an increase of 8.26% from the same period last year; Minghe Company achieved operating income of 332.9552 million yuan, a decrease of 14.44% from the same period last year, and a net profit of 3.6384 million yuan, a decrease of 886.5% from the same period last year. %. In accordance with the concept of “we produce what the market demands”, the company quickly entered the production of masks in March and achieved certain social and economic benefits. Zhejiang Furun said that in the second half of the year, the company will accelerate the divestiture of traditional assets, fully focus on the new Internet marketing track with big data, blockchain and 5G communications as core technologies, and focus on the “new main business” from “dual main businesses”. Industry”.
3. The debt burden is as high as 1.4 billion! In just two months, Guirenniao was listed as a person subject to execution by the court twice.
The debt burden was as high as 1.4 billion. In just two months, Guirenniao was listed as a person subject to execution by the court twice. Guirenniao, who once held the title of “the number one A-share sports brand” and was known as China’s “King of Shoes”, has once again aroused heated discussions due to the debt crisis. On September 9, Tianyancha showed that Guireniao Co., Ltd. was listed as the person subject to execution, and the execution court was the Xiamen Intermediate People’s Court. The case number is (2020) Min 02 Zhi No. 761, and the execution target is 94.74 million yuan.
It is worth noting that this is not the first time that Guireniao has been listed as the person subject to execution. In August this year, Guireniao Co., Ltd.�� has been listed as the person subject to execution by the Hefei Intermediate People’s Court, and the execution target is 130 million yuan.
Information shows that Guirenniao Co., Ltd. was established in July 2004, with a registered capital of approximately 629 million yuan, and its legal representative is Lin Tianfu’s business scope includes the production, research and development, wholesale and retail of shoes and clothing; the production, research and development, wholesale and retail of sporting goods, sports equipment, sports protective gear, suitcases, bags, socks, hats, etc.
Gray rhino incidents emerge one after another, and getting out of the predicament becomes a top priority for some textile companies!
A layman can watch the fun, but an expert can watch the door! In the editor’s opinion, whether it is a blessing or a curse, you just know it! Although market orders are currently recovering in stages, the severe domestic and foreign trade environment above sends a signal-the market is not good! Business is hard to do!
In the past, foreign trade, one of the important pillars of my country’s economic growth, has always shown a trend of rapid growth. For example, in 2019, my country’s total import and export value of goods trade was 31.54 trillion yuan, an increase of 3.4% over 2018. Among them, exports were 17.23 trillion yuan, an increase of 5%; exports of seven major categories of labor-intensive products such as textiles and clothing were 3.31 trillion yuan, an increase of 6.1%.
But it is this constant growth that has brought paralysis to us textile people, ignoring many risks with high probability, and once these risks occur , it became what economists often call the “grey rhino incident.” The Sino-US trade friction that continues to this day, including this year’s epidemic, is a gray rhino incident.
The weakening demand in the entire textile market has also greatly affected textile companies. People’s purchasing power for clothing has declined, and orders from clothing companies to fabric traders have also decreased accordingly. Some traders have received 50% fewer orders this year than last year, and their profits have also dropped by about 30%. Similarly, the number of gray fabrics dyed by printing and dyeing factories has also dropped significantly, resulting in the phenomenon of “not having enough to eat”, and the days of operating at full capacity are gone forever. Most of the time, there is no need to queue up when dyeing gray fabrics, and shipments are smooth. Garment factories, fabric traders, and printing and dyeing factories all suffer! In a world full of uncertainty, some experiences begin to fail. Getting out of the predicament has become a top priority for some textile companies! </p
