Zhejiang Furun Co., Ltd. (hereinafter referred to as “Zhejiang Furun”) announced on the evening of September 15) that the company’s 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.
The announcement shows that in January 2017, Zhejiang Furun completed a major Asset reorganization, officially entering the field of Internet big data. On the basis of textile printing and dyeing, seamless steel pipe processing and sales, the company’s main business has added Internet marketing, data analysis and services, forming a “traditional industry + emerging industry” that keeps pace with each other. pattern.
On September 9, 2020, the company held the first extraordinary general meeting of shareholders in 2020, and reviewed and approved the transfer of its shares to the controlling shareholder Matters regarding the 46% equity interest in Zhejiang Furun Printing and Dyeing Co., Ltd. and the 51% equity interest in Zhejiang Furun Textile Co., Ltd. After the completion of the above-mentioned equity transfer, the company’s main business will focus on Internet services, textile printing and dyeing, and seamless steel pipe processing and sales.
Public information shows that Zhejiang Furun was originally a traditional printing and dyeing and steel pipe processing enterprise in Zhejiang Province. In recent years, my country’s economy has faced a new normal, and the company’s main business has faced greater pressure, making transformation urgent. In 2015, on the basis of its original business, the company made a big move into the Internet industry with the help of “Internet +” and started the strategic transformation of traditional enterprises. In January 2016, the company planned to spend 1.2 billion to acquire 100% equity of the advertising company Taiyi Shang. After the acquisition is completed, the company will form a diversified business structure of “traditional industries + Internet”. The new business layout is expected to contribute stable profits to the listed company, and the company’s performance can be expected to improve in the future.
In terms of textile industry, the Shaoxing area where Zhejiang Furun is located is a well-known textile industry in the country. An important town, the 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 46% of Zhejiang Furun Printing and Dyeing Co., Ltd. through public listing. Equity, 51% equity of Zhejiang Furun Textile Co., Ltd., the announcement shows that the base price of Zhejiang Furun’s first public transfer is no less than 359 million yuan. The financial report shows that in the first half of 2020, Zhejiang Furun achieved operating income of 1.297 billion yuan, a decrease of 11.66% compared with the same period last year; it achieved a net profit attributable to shareholders of listed companies of 269 million yuan, a decrease of 2.49% compared with the same period last year.
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, a decrease of 33.92% from the same period last year, and 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 , net profit was 3.6384 million yuan, a decrease of 88.65% compared with 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 and fully focus on the new Internet marketing competition with big data, blockchain and 5G communications as core technologies. Tao, from “dual main business” to “new main business”. </p
