Interview With Zhou Chengjian, Chairman Of American Bond

From a village tailor to a Chinese tailor

Yes

Dress Chairman

Yesterday is a memorable day: after 13 years of development, it finally came into the market. At the same time, the new brand ME&CITY, which has been preparing for 3 years, is officially released with the "spring breeze of listing".

But even in such a formal occasion, Zhou Chengjian still wears his leisure style in his black casual suit and red checked shirt.

"What is your mood when the company is successfully listed today?" asked the reporter.

Zhou Chengjian held the microphone and smiled foolishly and answered, "it's okay."

"Are you satisfied with the performance of today's stock prices?" the reporter asked.

Zhou continued to show his signature smile: "it's okay."

It is difficult to link the middle size and casual Wenzhou man standing in the middle of the T platform with huge wealth.

Overnight, wealth jumped from 6 billion to 16 billion 100 million.

What people are most concerned about is: Zhou Chengjian, who is the businessman coming out from the clothing market of Miao Guo temple in Wenzhou, how will he treat this wealth? How can he be overjoyed or unable to bear it?

"In fact, my mood is the same before and after going public."

Zhou Chengjian continued to laugh.

After the bell struck, Zhou Chengjian presented a gold plated sewing machine to the Shenzhen Stock Exchange. It was a model of sewing machine used by Zhou Chengjian when he was a little tailor.

The Shenzhen exchange gave him a sculpture of cattle.

Zhou Chengjian said, "I was a tailor in the village, and later became a city tailor. Now I am lucky enough to be a Chinese tailor. I hope to become a global tailor."

Zhou Chengjian is no stranger to the Shenzhen Stock Exchange. He went there last year.

At that time, the Wenzhou municipal government organized 30 Wenzhou entrepreneurs, including Zhou Chengjian, to go to the Shenzhen Stock Exchange to see a Wenzhou enterprise listing and feel the magic of the capital market.

"Someone said I love money very much and love it very much.

In fact, I regard money as a tool for accomplishments.

Many people are asking me the same question: how much do you think the share price should be? Satisfaction or dissatisfaction? In my opinion, the question of stock price should be given to the market and investors to evaluate. For me, what is more concerned is how to get more resources to help the development of American Apparel. "

While the price is "noncommittal", Zhou Chengjian does not forget to express his passion for clothes.

"In fact, after the bell struck at the Shenzhen Stock Exchange in the morning, I went to a training class.

The most important thing is "education". As a listed company, the disclosure of information must be open and timely, and we can no longer speak as openly as we used to.

Zhou Chengjian admits that after listing, his responsibilities and pressure are not small.

Zhou Cheng became the richest man in Zhejiang's capital market.

Successful listing, a new brand ME&CITY's new product release also makes the people of bang Wei get excited. This relatively high-end brand is coming out, which means that Zhou Chengjian will enter the "double brand era" from now on.

"In fact, we have been preparing for the double brand management mode in the past two years, and have made sufficient market research, but only need funds.

Today, the successful listing of enterprises has provided us with ample financial support.

It makes me very excited.

Zhou Chengjian laughed. "What we need to do is try to remain calm and let every penny we collect is really applied."

However, no matter how calm Zhou Chengjian is facing this huge wealth, the market is hard to calm down.

Catching up with Huang Wei? If it was one or two months ago, it would be considered unthinkable: because last month's "mainland capital market rich list" released in 2007, Huang Wei of Wenzhou ranked the richest person in Zhejiang's capital market with the total fortune of 23 billion 62 million yuan after Zhang Jindong ranked the richest. In 2007, Zhou Chengjian's figure was only 6 billion yuan, and the wealth of two people was quite different.

After three days, Zhou Chengjian's fortune myth really fulfilled the old saying when he looked at each other.

With the continuous decline of the stock market, the wealth of Zhejiang's capital market, which has already been listed, has fallen sharply.

For half a year, the stock prices of three listed companies, including Huang Wei, the new lake, Zhong Bao, Xin Hu venture and hakco, were all cut short, and their wealth also shrank to around 13 billion 390 million yuan.

Comparatively speaking, the successful listing of Smith Barney clothing is doubling the market value. Zhou Chengjian, the "rising star" of the capital market, has surpassed the "patriarch" of Zhejiang's capital market.

At the same time, with 16 billion 100 million yuan of wealth calculation, Zhou Chengjian and his daughter may become the richest in the domestic clothing industry, catching up with the Chen Yihong family, who is the richest in the 2007 Hurun fashion list, the trend sports company, and Lining, who has been listed on the Hongkong stock exchange.

In such a sharp contrast, Zhou Chengjian, standing in the spotlight, must also accept more questions when he hears applause. Is it really worth the money?

Is it really worth the price? Sun Hao, an analyst at Zhejiang's Agile Enterprise Strategy Consulting Co. Ltd., disagrees: "the organization is unlikely to be interested."

In his view, yesterday's rise after the listing of Smith Barney apparel has been a statement of the market.

Sun Hao was compared with seven wolves, a listed company in the garment industry.

The total share capital of the seven wolves is only 280 million, the total market capitalization is about 4 billion 300 million yuan, but the total share capital of the 670 million yuan of American Apparel is 670 million, which corresponds to 18 billion of the market value. Two hundred million of the capital stock is increased in the form of year-end dividend, originally only 400 million capital stock.

"Compared to the seven wolves, the laying of the channel is no less than that of the United States. If I were to choose between them, I would choose to invest seven wolves."

Sun Hao thinks that the price of bimbo clothing is too high. Another point is: does Zhou Chengjian's virtual management mode have sustainable growth? He analyzed that the American state clothing focuses on the virtual operation. Only 284 of the 2211 shops in the Baron dress shop are direct stores, corresponding to the fixed assets of only about two hundred million yuan, "only 16 billion 100 million yuan is worth two hundred million yuan in fixed assets, more is the valuation of the intangible assets of brand value, and the risk is very high."

However, a reasonable share price for the US bond apparel listed in Guomin securities, which is just listed, is 27 yuan to 36.6 yuan. The reason is that it is optimistic about the consumption prospects of the fashionable young people. It is believed that the fast consumption concept and consumption ability of the group will make the industry's market consumption capacity maintain an annual average growth of more than 15%.

Wang Shi, chairman of Vanke's board of directors, also seems to be more optimistic about the brand from Wenzhou: "Mei Bang clothing is like a Mengniu in the clothing industry in my eyes."

Wang Shi said at the reception last night, "looks like the American dress is very young, but Zhou Chengjian began to learn tailoring in his teen years. Actually, it has a long history of development."

Going against the market, opportunities or challenges?

To be precise, the time of listing American bond is not a good time. After all, compared with the bull market of the stock market a year ago, the new listing of Smith Barney costumes is just like the newly listed China Southern car (601766).

However, Zhou Chengjian, a tailor born, expressed his love for the clothing industry with "falling in love". He also tried to express his determination to dress well in the future with his enthusiasm for the clothing industry.

In the prospectus of the US bond, it clearly pointed out the intention of the listed capital raising: it is mainly used for marketing network construction projects and information system improvement projects.

The former accounts for a large proportion, and the total investment is expected to reach 2 billion 531 million yuan, while the latter invested about 290 million yuan. The total investment is estimated at 2 billion 821 million yuan, and plans to raise 1 billion 800 million yuan by raising funds.

It is understood that the IPO raised funds for the construction of 68 shops are flagship stores and image shops, with an average area of more than 1400 square meters.

That is to say, a new round of marketing network construction and big store strategy.

The establishment of flagship stores on a large scale has another meaning for analysts.

"In the future, American Apparel is likely to follow the footsteps of YOUNGOR to take the road of commercial real estate and clothing, because building flagship stores means buying shops in commercial centers."

Sun Hao pointed out.

In today's real estate market has been very depressed, only to raise funds to buy land, will it be a high position of the "adverse market investment"? This undoubtedly causes many investors to worry.

"On balance, there are some 20 square meters of shops in Hangzhou's Wulin commercial circle, some of which can be as high as 2 million yuan, but how many years will it take to recover the cost at such a high cost?" SUN Hao questioned.

In the case of a weak capital market, we choose to embark on the road of mass expansion on the key point of "turning point" in real estate. In some analysts' view, is radical Zhou Chengjian too radical?

However, in the face of this sharp doubt, Zhou Chengjian paused and replied, "the real estate downturn is an opportunity for US bond clothing.

Now that China's enterprises are affected by macroeconomic regulation and control, it is the time when they are short of money; but by raising funds, American bond clothing is the richest time since the start of business.

When everyone is rich, the rent is very expensive. When there is no money, there is not enough money, which is a good opportunity. "

"We must use every penny in a cool and rational way."

He added.

"The most important detail of fashion is to suit oneself, to lead rather than follow."

Zhou Chengjian tried to use his understanding of fashion to encompass the development of the fashion road of Smith Barney fashion, and the reason why he insisted on "not taking the unusual road".