Xinye Textile Participates In The Acquisition Of Asia'S Largest Spinning Plant

　　 Xinye textile After the announcement on Tuesday, the company signed a cooperative purchase of assets and operation agreement with the other two companies, and purchased the related equipment assets of Xinjiang Tianshan Cotton Textile Co., Ltd. by a new company established by CO investment, and the transaction price was 100 million yuan.

The announcement said that Xinye textile invested 58 million yuan in its own capital and held 58% stake in the new company. Huijin owns 4% of the new company, and Yinhai cotton holds 38% of the new company. stock right The company distributes corporate profits in proportion to this equity ratio.

The company said that after the completion of the transaction, Xinye textile will become the world's largest rotor spinning. Cotton yarn The production base, which supplies large and high-grade rotor spinning cotton yarn, has a certain say and pricing power in the new spinning market. The new company will have the original technology and core management team and enjoy the preferential tariff of the western development.

It is reported that the original Xinjiang Tianshan Cotton Textile Co., Ltd. is known as the "Asia's largest air spinning plant", the production of Hami melon brand, seven star brand air spinning cotton yarn has a high reputation in the market.

In addition, according to the company's profit forecast, the annual sales income of the project is 400 million yuan, gross margin is around 25%, sales net interest rate is 10.28%, profit is more than 40 million yuan, and return on net assets is more than 40%.

Some analysts pointed out that the acquisition or further enhance the company's product grades and added value, but the specific market conditions and team running in situation remains to be seen. At present, the company mainly focuses on the 140 thousand spindles special yarn project, which is expected to reach the middle term this year. The threshold of the textile industry is low, and the profit margin of primary products is very low. The project will improve the product structure and enhance the profitability of the company.

2013 semi annual report shows that the proportion of the top grade combed yarn of the company reaches over 85%, and the proportion of siro spinning, compact spinning and elastic yarn reaches over 60%. R & D costs increased by about 20000000 in the first half of this year.

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Henan Xinye textile Limited by Share Ltd (new textile company) is one of the leading textile enterprises in the country, one of the top 20 cotton textile competitiveness enterprises in China, and one of the 50 key enterprises in Henan province. It passed the ISO9002 quality system certification in 2001. The company has 5 production plants, and the 2/3 key textile equipment is imported from Germany, Japan and Italy.

The company actively participates in the international market competition, makes efforts to integrate with the international textile market, actively develops foreign trade business, expands import and export trade volume, and sets up specialized import and export companies, laying a solid foundation for enterprises to enter the international market. The comprehensive strength has improved significantly, ranking the top 10 in the comprehensive strength of the national textile industry. The main economic and technological indicators occupy the leading level in the same industry in the whole country. The company has won the honorary title of "science and Technology Progress Award", "the top twenty enterprises in the national cotton textile industry competitiveness", "the national textile industry double civilization construction outstanding enterprise", "the national textile industry advanced group", "the national textile industry harmonious enterprise" and so on.

The company's "11th Five-Year" development strategy is to persist in the development of science and technology and brand management, enhance the competitiveness of enterprises, implement the strong expansion of operations, drive the export oriented development of enterprises, foster the cost advantages, vigorously develop superior products, reform the investment and financing system, strengthen capital operation and accelerate the pace of development; Cultivate innovative advantages, implement differential and steady development, and turn the new textile company into a large modern textile enterprise with strong international competitive advantages. The overall scale and economic benefits of the enterprise have entered the top 10 of the same industry in the whole country.