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Textile And Garment Enterprises Cross Border Transformation Warming Deserves Attention

2014/7/31 5:14:00 10

Textile Clothing Enterprises Cross-Border Transformation Warming Value Concern

as of July 21st, a total of 53 textile and apparel listed companies released the medium-term results announcement in 2014, and more than 50% companies preferred. On the whole, the performance of textile and garment companies has been weak since the first quarter due to the weakness of terminal consumption and the impact of electric business. Most of the company's main business is weak. Analysts pointed out that in the context of the downturn in the retail industry, most industry companies met expectations or slightly below expectations. Some enterprises seek to get higher valuation and performance growth through cross-border mergers and acquisitions. For example, Semir clothing announced in the evening of July 20th, to buy 100 million yuan stake in related companies, enter the children's education and training market. 
 < a > href= > http://sjfzxm.com//business/ > main business < /a > continue pressure /p >
 in the 53 pre disclosure companies, 29 companies (including losses and profits) accounted for 55%, while the 24 companies (including pre reduction and loss) accounted for 45%. Although more than half of the pre hi enterprises, most of the performance of enterprises mainly rely on the sale of tradable financial assets and other non main business "help", the main business is still under pressure. 
 data show that in 2014 1-5, the total retail sales of textile and garment industry increased by 9.7%. Ping An Securities Research believes that since 2014, some sectors of the industry have improved in terms of performance growth, but they may come more from cost reduction and income side improvement, while inventory turnover has not improved significantly, and the growth pattern has not changed significantly. The industry may be in the new and old mode of entanglement and labor pains. 
 53 enterprises, the largest net profit growth rate of more than 100% enterprises over the same period 4. Except for Shandong, the other three enterprises grew mainly from non recurring gains and losses. Among them, the main industry of Xinyang Feng has changed to fertilizer industry, realizing net profit of about 276 million 820 thousand -28886 yuan, an increase of 939.64%-976.16%. Opening up the industry, by transferring the 3.95% stake of Shanghai Hua Tuo Pharmaceutical Technology Development Co. Ltd., which was held by the company, achieved an investment income of 36 million 222 thousand and 500 yuan, and the net profit increased by 215%. In the first half of the year, Huafang received 94 million 552 thousand and 519 yuan of compensation for land purchase and storage, and successfully realized its losses. 
 in addition, the Hai Lan home, which is backdoor listing, expects medium term profit to increase substantially. The company said that after the completion of the major asset reorganization, the Hai Lan home dress Limited by Share Ltd was incorporated into the scope of the accounting statement merger, thereby predicting the cumulative net profit from the beginning of the year to the end of the next reporting period. 
 the largest growth rate is expected to be 4 in 50%-100%, namely Hongda hi tech, Zhonghe shares, Xun Xing shares and Jialin Jie. There are 8 enterprises in the 30%-50% growth range, namely, Jie Jie stock, Maison culture, blue Ding holdings, Jiangsu Broadway, Weixing shares, Huafu color spinning, Huas shares and Semir costumes. From the perspective of growth momentum, most of the growth rate is over 20%. 
 in the 23 companies of < a href= "http://sjfzxm.com//business/ > > reporting bad" /a >, the Vico essence predicts the first half of the year, and the net profit attributable to the shareholders of the listed company is about -6300 million yuan. The company said that in addition to the downturn in the economic environment, the battalion accepted and lowered, compared with 2013, did not receive equity earnings in 2014 is also one of the reasons for the loss. 
 from the perspective of segmentation industry, home textile and outdoor industries still guarantee a certain net profit growth rate. Meng Jie home textiles, fuanna and Roley home textiles three home textile listed companies have maintained net profit growth of about 0%-30% in the first half of this year. In the environment of low consumption demand, the original channels of home textile enterprises are undergoing transformation, and the performance of offline stores is poor. 
 The Pathfinder performance forecast shows that the net profit attributable to shareholders of Listed Companies in the first half is 122 million 640 thousand yuan, an increase of about 27%. The company said that in the first half of the year, the company officially launched the "commodity + service" strategy of Internet transformation, gradually promoted the upgrading of offline channels, and integrated more consumer experience and interactive functions, while strengthening the promotion and integration of online channels. 
 cross-border M & amp; a warming up /p >
 main business is still under pressure, some companies begin to cross border transformation, which has become the main driving force of some companies in the first half of the year. As textile and apparel companies are mostly private and medium-sized market capitalization companies, data show that over 70% of the total market value of enterprises is less than 5 billion yuan, and the cross-border transformation of textile and garment industry is also sought after by the market. 
 from the cases already announced, some enterprises have built up the industrial chain through the acquisition and integration of upstream and downstream industries, and some enterprises have expanded cross-border business. The Pathfinder buys the "green field network", and plans to build the outdoor ecosystem new system of "multi brand + outdoor tourism service platform + outdoor vertical electric business"; the Maison integrated technology company, the children's stage company star dream workshop, the film and television company Shanghai innocence era, is expected to form "IP R & D + animation, games, film production + peripheral derivatives" of the whole cultural industry chain. Semir apparel intends to buy shares in related companies with a price of 100 million yuan to try to enter the children's education market. 
 at present, the cross-border development of textile and garment companies is mainly concentrated in the field of hand travel and cultural media. Jia Linjie bought the software of the hand travel company, Lukang technology intends to acquire the century long dragon of the film and television company, and Kaiser shares purchase the hand travel company, cool cow interaction and so on. 
There are also some breakthroughs in policy P. In July 11th, the SFC reopened its opinions to the public on Amending the management measures for major asset restructuring of listed companies and the management measures for acquisition of listed companies. This amendment reflects the market supervision and management of deregulation and strengthening supervision. 
 Shenyin Wanguo research report believes that cross-border transformation will become a hot spot in the next six months to a year. At present, the overall performance of textile and garment enterprises is relatively dull, and the industry resources are scattered in the industry. Many enterprises choose to extend vertically, integrate resources, and create subdivision industrial chains. At the same time, many companies are also seeking to expand outward. 
 however, insiders also said that cross-border transformation may play a catalytic role in share price, but whether the valuation can be enhanced depends on whether enterprises can integrate the assets of mergers and acquisitions. 
 opening up new market is imperative. 
 analysts pointed out that retail sales in the second half of the year are still showing a bottom shock, and the industry recovery still needs to wait. However, the improvement of operational efficiency brought about by the reform of state-owned enterprises and local support policies will benefit the relevant enterprises. 
 recently, the SASAC of the State Council announced the launching of the "four reform" pilot list, and six central enterprises, such as xinjihua Group Co., Ltd. were included in the first batch of pilot projects. 
 Hua Hua group is currently investing in Changchun, Chongqing and other places, including outlets, shopping center and so on. The Chongqing project and Changchun project plan to invest 1 billion 351 million yuan and 1 billion 388 million yuan respectively, and the internal rate of return is expected to be 20.5% and 20.8% respectively. 
 in addition, in July 18th, Xinjiang released the preferential policy of developing textile and garment industry to promote employment, and at the same time issued the Xinjiang textile and garment industry development plan for the first time. Among them, the ten preferential policies include 20 billion yuan special funds, tax preferences and subsidies. By 2023, Xinjiang cotton textile production capacity will be expanded from 7 million to 20 million spindles, and the number of employment in the textile and garment industry will increase from 200 thousand to 1 million. 
 Haitong Securities Research Report believes that the layout of Xinjiang's textile and garment industry will promote the development of the whole industrial chain. It will play the role of the core area of the Silk Road Economic Belt and the two economic development zones of Kashi and Huoerguosi, and build a textile and garment export processing and trade Center for Asia and Europe, and open up new export markets. 
 Haitong Securities expects that Xinjiang's industrial layout will mainly focus on the development of high-end cotton textile products, and the listed companies represented by Lu Tai A will benefit. At present, there are more than 40 textile and garment enterprises in Xinjiang, including 6 listed companies such as Lu Tai A, Huafu color spinning, YOUNGOR, Shandong Ruyi, Xinye textile and Huafang textile.