Xinye Textile Wants To Acquire Asia'S Largest Spinning Plant

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< p > > Xinye a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > announcement on Wednesday night. On the 14 day, the company signed a cooperative purchase of assets and operation agreement with Kaifeng Yinhai Cotton Industry Co., Ltd. (hereinafter referred to as Yinhai cotton industry) and Xinye Huijin Industrial Co., Ltd. (hereinafter referred to as Huijin real estate).

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< p > > according to the agreement, the three parties jointly invested and established the Xinjiang Yuhua Textile Technology Co., Ltd. the company invested 58 million yuan in cash and held 58% equity in the new company; Huijin invested 4 million yuan in cash and held 4% equity in the new company; the Yinhai cotton industry invested 38 million yuan in cash and held 38% shares in the new company; and Xinjiang Yuhua Textile Technology Co., Ltd. purchased the related equipment assets of Xinjiang Tianshan Cotton Textile Co., Ltd., with a paction price of 100 million yuan.

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< p > the underlying asset class of this acquisition is fixed assets, which is the fixed assets of Xinjiang Tianshan Cotton Textile Co., Ltd.

The main equipment is: Xinjiang Tianshan Cotton Textile Co., Ltd. the new factory building, office building and supporting staff dormitory building, canteen, boiler room, water well and other infrastructure facilities are about 140 thousand square meters; 51 air jet spinning and its supporting equipment and inventory, ground buildings and land for future development totaled 800 Mu of land.

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< p > according to the announcement, the original Xinjiang Tianshan Cotton Textile Co., Ltd. is known as "Asia's first big a href=" //www.sjfzxm.com/news/index_c.asp "> spinning fabric < /a > factory, with advanced equipment. The production of Hami melon brand and seven star brand air jet spinning cotton yarn has a high reputation in the market; the new company will have the technology and core management team of Xinjiang Tianshan Cotton Textile Co., Ltd.; the new company will enjoy preferential tariff for the western development; the national development and Reform Commission is studying a series of preferential policies to support the development of Xinjiang's textile industry.

The purpose of this investment is to continue to promote the process of low cost expansion and pformation of the company.

The purpose of acquiring underlying assets is to enable new companies to invest in production and operation as soon as possible.

After the completion of the paction, the main business of the company is the supply of large high-grade rotor spinning cotton yarn.

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< p > announcement, according to the 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 the return on net assets is more than 40%.

After the establishment of the new company, the company will become the world's largest production base of rotor spinning cotton yarn. It will have a certain voice and pricing power in the new spinning market, and will help to develop a broader market.

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< p > < strong > Henan Xinye textile > /strong > /p >

< p > is one of the 520 key enterprises in China and 50 key products structure optimization enterprises in Henan province. It is approved by ISO9002 quality system in 2001. It is one of the most important enterprises in the country, namely, a href= "//www.sjfzxm.com/" > textile enterprise < /a >.

The company has 5 production plants, and the 2/3 key textile equipment is imported from Germany, Japan and Italy.

Fixed assets of 1 billion 360 million yuan, the existing staff of 9035 people.

The company mainly produces and operates pure cotton yarn, polyester cotton yarn, thread, cloth, yarn dyed fabric and towels, sheets and other products. It produces 70 thousand tons of yarn and 120 million meters of cloth annually. The products are sold in more than 20 provinces and cities such as Guangdong, Fujian, Shandong and Shanghai, and exported to 12 countries and regions such as the United States, Hongkong and Korea.

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", and "the advanced textile industry in the whole country".

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