The Reform Of The Two Big Textile Empire In The Reform Of Shanghai'S State-Owned Enterprises

Recently,

Textile Group's leading shares, Shenda shares and Orient International (Group) Limited's Oriental venture also announced that the Shanghai municipal SASAC decided to implement a joint reorganization of Shanghai Textile Group and Orient International (Group) Co., Ltd.

In response, insiders said: "after the interpretation of Shanghai's SOE reform, the market has speculated that Shanghai Textile Group and Orient International (Group) Co., Ltd. will make full use of its listed companies.

But after the news of the restructuring of the two groups, the overall listing strategy of the two groups is expected to change.

Shanghai enterprises recombine and increase foreign trade

The announcement shows that in order to further adjust and optimize the layout of state assets and promote the innovation and pformation of enterprises, the Shanghai municipal SASAC decided to carry out a joint reorganization of Shanghai Textile Group and Orient International (Group) Co., Ltd., holding 27.33% stake in its textile group and 49% stake in the Textile Group owned by Shanghai Guosheng (Group) Co., Ltd., all pferred to the Orient International Group Limited by the audited net asset value, and the equity pfer benchmark is December 31, 2016.

Xi Shiping, chairman of Shanghai textile (Group) Co., Ltd.

Insiders said: "the total import and export volume of Shanghai Textile Group and the total import and export volume of Orient International are both ranked in the top 500 Chinese foreign trade companies, and their ranking is within 100. This shows that the total import and export volume of the two groups will be further improved after the reorganization."

Data show that as of the end of 2016, Shanghai Textile Group has a total assets of 36 billion 920 million yuan, 234 enterprises, and its listed companies have Shenda shares and leading companies.

In 2016, its operating income reached 54 billion 180 million yuan, and imports and exports amounted to 5 billion 370 million US dollars (4 billion 260 million US dollars and 1 billion 110 million US dollars).

Dongfang International (Group) Co., Ltd. (hereinafter referred to as: Orient International Group) was founded in November 18, 1994, with a registered capital of 800 million yuan. It was originally a wholly state-owned company jointly established by the five foreign trade systems of Shanghai, namely, the "five golden flowers", namely, silk, clothing, textile, knitting and home textiles.

In 2016, the group achieved operating income of 22 billion 700 million yuan, realized a net profit of 800 million yuan attributable to the parent company, an increase of 121% over the previous year, and the profit of the group's main industry in total profit increased to 40% from 40% last year.

The combined trade income of the group was 19 billion 580 million yuan.

Orient International Group

In addition, in the first half of 2016, the group achieved a total revenue of 10 billion 322 million yuan, an increase of 2.48% over the same period last year, attributing to the parent company's net profit of 258 million yuan, an increase of 30.4% over the same period last year.

The total import and export volume is 9 billion 32 million yuan.

Yang Jianwen, executive vice president of Shanghai state owned Capital Operation Research Institute, said in a media interview that the Textile Group owns textile business and trade, while Orient International focuses more on Trade and investment.

Yang Jianwen disclosed that Shanghai's state-owned assets mixed reform plan has been basically finalized from June to July.

"It mainly focuses on the layout of strategic emerging industries represented by the four centers, the construction of geo and the CIC center.

In the process of supply side reform, industrial upgrading needs financial support.

Shanghai's state-owned asset mix plan is expected to fall from September to October. The main purpose is to achieve industrial upgrading and upgrade the vitality of state-owned listed companies.

With the nineteen approaching, combined with the national financial work conference, the state-owned enterprises will be listed as the "top priority". The reform of state-owned enterprises in the future will exceed expectations.

Overall listing is expected or diverted.

For the reorganization of Shanghai Textile Group and Orient International (Group) Co., Ltd., an industry analyst said: "the reorganization of the two groups has strong superposition and short board complementarity, with the superposition of import and export business, complementary foreign trade and domestic trade (industry), trade and logistics, and real estate resources and financial assets."

It is understood that after the pfer of shares, the actual controller of listed companies has not changed, and is still the SASAC of Shanghai.

After restructuring, the relationship between leading shares and Shenda shares will change.

Dongfang International Group will have three leading companies, Shenda group and orient venture company.

From the announcement of listed companies, there is no specific information about the future planning of the two group.

The announcement shows that there has not been any notice that the pfer of shares may change the company's future strategic planning, business operation and industry development direction.

In this regard, three listed companies' secretaries are also cautious, unwilling to disclose more information.

Textile industry researchers said that after the pfer of control rights, the company will have two aspects of business imagination in the future.

On the one hand, business classification, division of labor is more clear, concentrate on doing things; on the other hand is intensive development, that is, to achieve the 3 companies have similar business and resource cooperation.

"Because most of the three companies are doing business.

The original companies may be separately purchased, and if they can purchase jointly, the bargaining power of the upstream companies will be stronger and the profit margins will be greater.

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