Shandong, The Largest Domestic Textile Enterprise In The World, Is Bought By State Capital. Its Business Involves Thermoelectricity And Tap Water.

The Limited by Share Ltd (hereinafter referred to as "Fu Tian") has issued a notice recently that in May 7th, the company received the notice of the controlling shareholder of the company, the group of Limited by Share Ltd, the group of Limited by Share Ltd (hereinafter referred to as "Fu Tian Holdings"). The government of Gaomi City issued a document on that day and decided to buy 20% of the shares of the company.

The document issued by the Gaomi City government said: "after long and continuous development, the Limited by Share Ltd of the group has a waterworks, two power plants and a reclaimed water reuse plant. In order to fully integrate existing resources, avoid duplication of investment and meet the needs of the high quality development of the whole city, the municipal government has decided to purchase the Limited by Share Ltd of the group controlled by the Gaomi Huarong Industrial Development Co., Ltd. (hereinafter referred to as "Huarong Industrial Company"). After the consent of the Limited by Share Ltd group, Limited by Share Ltd acquired the 20% of Limited by Share Ltd group. Shares. "

Huarong Industrial Company was founded in September 1, 2017, with a registered capital of 2 billion yuan and a legal representative for deer management. It is a wholly owned subsidiary of Gaomi City state owned assets operation center holding 100%. As of December 31, 2019, the total assets of Huarong Industrial Company were 46 billion 867 million yuan and net assets 18 billion 244 million yuan. In December 31, 2019, its operating income was 2 billion 385 million yuan and net profit was 195 million yuan.

Fu Tian Holdings said that it has fulfilled the relevant decision-making procedures and agreed to transfer 20% of its ownership to the Gaomi City government. The matter has been implemented by both parties in accordance with the legal procedures and the implementation has been confirmed. However, the agreement has not yet been formally signed, and will be negotiated and signed formally by Huarong Industrial Company and Fuli holding company.

Once the announcement was released, the stock price of 5 days after the price limit continued to rise and fall. However, as of the first time, the news of the first textile network issued tonight, and the shares of the shares rose 5.57 yuan / share, or 3.13%.

And today, at the time of returning to the Shenzhen Stock Exchange, Fu Tian shares said that after the transfer of the company's control rights, the original management team would not change, and would not have any impact on the normal production and operation of the company. The government of Gaomi City decided to set up the strategic development committee of the group, and was appointed chairman of the committee by Mr. Sun Rigui, the current chairman of the company.

Public information shows that Sun Rigui was born in March 1955. He served as the director and deputy director of the Weifang electric machinery factory, the Secretary and director of the Gaomi towel factory Party branch, the director, general manager and Secretary of the Party committee of Shandong Jie Yu Textile Co., Ltd., Shandong Jieyu textile Limited by Share Ltd director and Secretary of the Party committee.

Referring to the November 2006 prospectus of the prospectus issued by the company, the reporter learned that sun was in September 1975 to February 1987 as the chief and vice director of the Weifang electric machinery factory. He was appointed secretary and director of the Gaomi towel factory in February 1987 - August 1999. He was the chairman, general manager and Secretary of the Party committee of Shandong Jieyu Textile Co., Ltd. in August 1999 August 1999. - he was the chairman and Secretary of the Shandong Jieyu textile Limited by Share Ltd in June 2002. From June 2002 to February 2005, he served as chairman of the first board of directors of the home textile Limited by Share Ltd, and has since been chairman of the board of directors of the company. The term of office of directors is from February 2005 to February 2008.

Reporters access to the financial report to understand that as of March 31, 2020, Sun Rigui holds 30 million shares of shares of Japan, 3.30% stake, as of the end of 2018, the annual pre tax salary of 396 thousand and 300 yuan.

Sun Rigui's first day was founded in 1987. It was originally a weaving workshop of a motor factory in Gaomi Town. The initial capital was only about 300000 yuan, and 33 workers, 10 broken tile houses and 8 old looms were all at that time. After years of continuous development, Fu sun shares has become a comprehensive enterprise group that integrates domestic and foreign trade, real estate, thermoelectric and motor industries as a leading industry.

We have established a complete production chain of home textiles from product R & D, spinning, weaving, printing, dyeing, finishing, packaging and logistics to Global trade. Since 1999, it has been the first place in China's home textile industry for nearly 20 years. It is the largest and largest export enterprise in China. It is also one of the largest household textile companies in the world.

The export market of the Japan stock market, which covers Japan, Europe and the United States, the Middle East and Russia, has strong bargaining power and discourse power in the market, and is a well-known brand enterprise in the world's home textile industry. At the same time, the company is also rare on the basis of obtaining export lead and developing domestic market well. The company currently owns three brands, VU, Jieyu, and Se Wei, which are targeting high-end, middle and high end and middle and low end markets. Among them, the market share of the two brands of "Fu Tian" and "Jie Yu" is third and fourth of the domestic towel market.

The results showed that in 2019, VSI shares achieved a total revenue of 5 billion 73 million yuan, a year-on-year decrease of 1.89%, and a net profit of 551 million yuan attributable to shareholders of listed companies, an increase of 26.82% over the same period, a total profit of 759 million yuan and a profit of 775 million yuan, representing an increase of 33.98% and 36.14% respectively over the same period.

In the first quarter of 2020, VSI shares achieved a profit of 1 billion 164 million yuan, down 6.28% compared to the same period last year. Net profit attributable to shareholders of listed companies was 95 million 702 thousand and 100 yuan, down 29.29% compared with the same period last year. As at the end of the reporting period, the total assets of VSI group were 8 billion 634 million yuan, down 4.93% compared with the beginning of the year, and the net assets attributable to the shareholders of listed companies were 3 billion 860 million yuan, up 2.54% from the beginning of the year.