Jiangsu Cathay International Group Co., Ltd. (hereinafter referred to as “Jiangsu Cathay”) issued an announcement today (July 3) evening that in order to strengthen the company’s overall design and research and development capabilities and improve its “one-stop” service level to customers, the company It is planned to change part of the raised funds of 270 million yuan that have not yet been confirmed for the Cathay Pacific Southeast Asia Textile and Garment Industry Base Project, and all the raised funds of 990 million yuan that have not yet been put into use for the Cathay Pacific China-Africa Textile and Garment Industry Base Project, totaling 1.26 billion yuan, to be used in Jiading, Shanghai. An innovation design center will be established in Jiangqiao Town, District, and the shortfall will be made up by the company with its own funds.
First Textile Network reviewed the announcement and learned that the construction land of Jiangsu Cathay Innovation Design Center is located in Jiangqiao Town, Jiading District, Shanghai, east to Lintao Road, bounded by Huajiang Road in the south, Gaochao Road in the west, and Shuangyang Port in the north. The total planned land area of the project site is 63,365.80㎡ (approximately 95.05 acres), the total planned construction area is 177,991.60㎡, and 5 office buildings are planned to be constructed. , while supporting infrastructure such as underground garages and public service facilities. Among them, 4 office buildings and underground garages are included in this project. The total construction area included in the investment project is 152,393.28 square meters, of which the office building construction area is 102,393.28 square meters and the underground construction area is 50,000.00 square meters. At the same time, it is planned to construct road squares (area 39,057.20㎡) and greening (area 12,673.00㎡) within the area.
The construction content of Jiangsu Cathay Innovation Design Center is an office building, which serves as the design building for the company’s holding subsidiaries and also serves as an office space for communicating with customers, selecting samples, and receiving orders.
The new project rents office buildings and underground parking lots, mainly to the company’s holding subsidiaries for innovative design, research and development, display, sample selection, negotiation, and order taking. The Innovation Design Center takes the construction and operation of office buildings and good properties as its core platform to provide paid services to its holding subsidiaries.
The new project is expected to have a total investment of 1,368.0548 million yuan, of which 1,368.0548 million yuan will be invested in construction, with no underlying working capital and interest during the construction period. The total project construction costs are 492.4237 million yuan; the total other project construction costs are 875.6311 million yuan. Jiangsu Cathay plans to use the raised funds after this change (a total of 1.26 billion yuan) for investment, and the shortfall will be made up by the company’s own funds.
According to Jiangsu Cathay’s preliminary calculations, the financial internal rate of return (after income tax) of the new project investment is 6.25%, the financial net present value (after income tax) is greater than 0, and the investment payback period (after income tax) is 11.22 years. (Including a construction period of 2 years), the main profitability indicators of the new project initially calculated by Jiangsu Cathay are as follows:
Jiangsu Cathay estimates that the project is normal The total profit for the year was 126.8243 million yuan, the income tax paid was 31.7061 million yuan, and the net profit was 95.1182 million yuan.
After the project is completed, 13 import and export holding subsidiaries are planned to be settled, including Jiangsu Guotai Yisheng Industrial Co., Ltd., Jiangsu Guotai Trade Industrial Co., Ltd., Jiangsu Guotai Sheng Industrial Co., Ltd., Jiangsu Guotai Bo Chuang Industrial Co., Ltd., Jiangsu Guotai Litian Industrial Co., Ltd., Jiangsu Guotai Cotton Trading Co., Ltd., Jiangsu Guotai Huasheng Industrial Co., Ltd., Jiangsu Guotai Yida Industrial Co., Ltd., Jiangsu Guotai Hanbo Industrial Development Co., Ltd., Jiangsu Guotai Hua Industrial Co., Ltd., Jiangsu Cathay Huabo Import and Export Co., Ltd., Jiangsu Cathay International Group Shanghai Import and Export Co., Ltd. and Jiangsu Cathay Huimaotong Enterprise Service Co., Ltd.
The holding subsidiary will set up a display and reception service center based on its customers’ market, brand positioning and other independent innovation design and sales teams after the project is completed. Jiangsu Cathay will charge rent to the holding subsidiary:
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Since the project construction period is two years, taking into account the floating rent of office buildings in Shanghai in the next two years, the proposed rental price of office buildings for this project is 4 yuan/m2·day; through the analysis of the prices of underground parking spaces in other areas of Shanghai According to statistical analysis, taking into account the fluctuation of parking space rents in Shanghai in the next two years, the proposed rental price of parking spaces in this project is 1.8 yuan/m2·day.
The “Cathay Southeast Asia Textile and Garment Industry Base Project” that Jiangsu Cathay has changed this time is planned to be built in Chenggong Industrial Zone, Vietnam. The project will be carried out in two phases with a total investment of 1.0505 million yuan and a planned investment of 101,000 yuan in raised funds. Ten thousand yuan, including:
The planned area of the first phase of the project is 180 acres, and the total investment is estimated to be 447.5 million yuan. The industry is positioned as spinning, weaving, printing and dyeing, and garments, forming a textile and clothing production system with a full industrial chain. It covers an area of 120 acres, and an additional R&D center covers an area of 60 acres. A yarn R&D building is planned to be built in the center.Profit was RMB 160 million, a year-on-year decrease of 25.2%.
In the domestic macroeconomic development situation, national industrial policy and the development of China’s textile and apparel industry In the context of Shanghai, combined with its own operating results and advantageous resources, Jiangsu Cathay plans:
1. After the Cathay Innovation Design Center is completed, the company will make full use of Shanghai’s talent and transportation location advantages to attract high-end design and R&D talents. At the same time, we will further increase investment in design and research and development to improve the competition and profitability of the company’s main textile and apparel products. At the same time, the project supports the construction of a display and order-taking center, which is responsible for sample display, business negotiation, product release and other functions. It provides a one-stop service venue for display, negotiation and order-taking to enhance corporate image and competitiveness.
2. Enterprises vigorously build innovative design capabilities and invest heavily in innovative design centers. The level of innovative design capabilities is related to the future development of the entire enterprise. As the foundation and guarantee of the corporate brand, the enterprise will Use the benefits brought by R&D and design to invest more resources to promote a virtuous cycle and enable enterprises to achieve sustainable development.
As of press time this evening, Jiangsu Cathay Pacific closed at 6.51 yuan per share, an increase of 3.66%, with a market value of 10.2 billion yuan. </p
