Nine Mu Wang Intends To Invest 200 Million Yuan To Invest In Zhejiang Securities Company To Make Profit Channels.

In the evening of November 17th announcement, the company's wholly-owned subsidiary, Tibet's nine capital investment limited liability company (hereinafter referred to as "nine Sheng Investment") intends to subscribe to 68 million shares of CAITONG securities with its own funds and the price of 2.98 yuan / share (the final price is approved by the Zhejiang Provincial Department of Finance). The total investment is about 202 million 640 thousand yuan, accounting for 2% of the total share capital of CAITONG securities.

From the perspective of business composition, financial securities is a national securities company with complete business categories. It has formed a three in one financial industry layout, with 72 existing business departments, mainly distributed in economically developed cities in Zhejiang and Shanghai, Beijing and Shenzhen. Dalian Chongqing, Nanjing and other places. As of June 30, 2014, the total assets of CAITONG securities were 27 billion 966 million yuan, net assets of 4 billion 837 million yuan, and operating income of 1 billion 323 million yuan, attributable to the parent company's net profit of 276 million yuan.

As a textile and garment enterprise in Quanzhou, Fujian, nine Mu Wang went to the main board of Shanghai Stock Exchange in 2011, and mainly engaged in R & D, production, sales and brand promotion of men's wear. Affected by the downturn in the apparel industry, the reduction of sales terminals and the impact of e-commerce, the company's performance has started to decline since 2013: the year-on-year revenue dropped 3.81% in 2013, the net profit decreased by 19.62% compared to the same period last year, and in the first three quarters of 2014, the company's revenue decreased by 15.07% compared with the same period last year, and the net profit fell 27.88% over the same period last year.

Public information display Negotiable securities The controlling shareholder is Efficient Finance Holding Ltd of Zhejiang province. It is a wholly owned subsidiary of Zhejiang finance development company. Its shareholding ratio is 60.96%. The company's existing 25 shareholders list shows that Zhejiang railway investment group, Zhejiang Hualian Group, SUPOR group are all listed, and all enterprises in Zhejiang province.

Insiders believe that the king of nine Only A foreign company in Zhejiang province shares in CAITONG securities, which is expected to share the profits of securities companies' business growth, enrich and optimize the company's investment business structure, improve the efficiency of capital use, and expand the source of earnings for the company.