The local leisure wear leader - Soute Group Co., Ltd. (hereinafter referred to as "search special"), announced in the afternoon that the company will provide guarantee for wholly-owned subsidiaries and indirect holding subsidiaries, as follows:
1. The company's wholly-owned subsidiary, Dongguan City, Yute Special Supply Chain Management Co., Ltd. (hereinafter referred to as “Supply Chain Management Companyâ€) is planning to apply for a comprehensive credit line of 5,000 to China Everbright Bank Co., Ltd. Dongguan Branch for production and operation needs. Ten thousand yuan, the credit period is one year. The use of the comprehensive credit line is guaranteed by the company and is jointly and severally liable for its payment.
2. The company's wholly-owned subsidiary, Dongguan City, Yuteite Brand Management Co., Ltd. (hereinafter referred to as “Brand Management Companyâ€) is planning to apply for a comprehensive credit line of RMB 30 million from Ping An Bank Co., Ltd. Shenzhen Branch for production and operation needs. The credit period is 1 year. The use of the comprehensive credit line is guaranteed by the company and is jointly and severally liable for its payment.
3. Suzhou Jutong Supply Chain Management Co., Ltd. (hereinafter referred to as “Jitong Companyâ€), a wholly-owned subsidiary of Dongguan Yutu Special Supply Chain Management Co., Ltd., is planning to supply to Ping An Bank Limited due to production and operation needs. The Shenzhen branch of the company applied for a comprehensive credit line of 40 million yuan, with a credit period of one year. The use of the comprehensive credit line is guaranteed by the company and is jointly and severally liable for its payment.
The total amount of this guarantee was RMB 120 million, accounting for 2.30% of the company's audited net assets of RMB 5,221,170,900. Up to now, the company has agreed to provide a total of RMB 1,345 million in guarantees for the subsidiaries, accounting for 25.75% of the company's audited net assets of RMB 5,221,190,900. As of now, the actual guarantee balance under the above guarantees is 245.73 million yuan and 5.751 million US dollars, accounting for 5.45% of the company's audited net assets of 5,221,170,900 yuan in 2016.
The company believes that the above-mentioned guarantee risks are small and controllable, and are beneficial to the production and operation of subsidiaries and indirectly controlled subsidiaries, and agree to the above guarantees. The company's independent directors believe that the company has established a sound external guarantee management system and risk control management system, strictly abide by the relevant laws and regulations to disclose information, and fully reveal the risks of external guarantees. The company provides guarantees for wholly-owned subsidiaries and indirect holding subsidiaries, which can guarantee the sustainable development of its business. The financial risks of the company providing guarantees are within the controllable range. The external guarantee approval decisions and internal control procedures also meet the requirements of the regulatory authorities. The above guarantees do not have uncontrollable guarantee risks, which are in the company's overall interests and will not harm the interests of the company and shareholders.
As a low-cost clothing brand, the company started its business, and its “trend frontline†brand positioning “fast, cheap, fashion†casual wear, deep into the third- and fourth-tier cities, has now developed into a top ten sub-brand, 1845 stores, terminals A large apparel brand with sales revenue of 1.869 billion yuan. Since 2015, the company has transformed its comprehensive chain of integrated service providers to provide supply chain services, brand management and commercial factoring services outside the main apparel industry. The revenue/net profit of the supply chain services business reached 4.324 billion yuan and 170 million yuan in 2016. It accounted for 68.37%/46.92% of the company's total revenue and net profit, which became an important support for the company's performance.
The company has proposed a three-year plan in 2015 to formally transform the integrated service provider of the industrial chain: the company expects to invest 6-10 billion yuan in 2015-2018, and utilize its own industrial resources and existing bases on the basis of consolidating the existing clothing brand business. The investment layout, with supply chain management, brand management, and internet finance business as the core, develops into various value-added service fields of the fashion life industry, in which supply chain management solves “how to buy†(raw material procurement) and brand management to solve “how to sell†(channel Laying), commercial factoring and other financial services businesses to solve the problem of capital turnover.
The search for the special supply chain management business is mainly engaged in: (1) centralized procurement, using the company's advantages in procurement, warehousing and distribution to provide customers with cotton yarn, fabrics and other raw materials procurement services (including cotton yarn in 2016 accounted for more than 83%), and the scale of use The advantage is to earn a difference. (2) Providing design and development services, using the headquarters 300+ design R&D team and independent raw material R&D center to provide raw material information, cost analysis, and trend analysis. (3) Procurement planning: tailor-made procurement plans for customers and optimize their internal fund turnover.
The specific business development form is based on the company's wholly-owned subsidiary Dongguan Search Special Supply Chain Management Co., Ltd., which has invested in setting up a number of holding project subsidiaries (51%) and attracting local shares in the form of equity joint ventures. Partners with supply chain and market resources are involved. Since its launch in August 2015, it has had nine holding-type supply chain subsidiaries, which are located in major textile and garment production regions across the country. The company has set up a scale of 800-1.2 billion yuan for each subsidiary. Subsidiaries such as Lianhe and Guangzhou Jiyat have developed rapidly.
At present, there are about 1,000 cooperative customers in the supply chain management business and about 500 cooperative suppliers. In 2015/2016, the revenue from this business was 1.97/43.24 billion yuan, which was growing rapidly. Since the company's procurement of raw materials can have a 10% difference compared with other purchasers, this business can save customers 2%-6% of procurement costs. And optimize the procurement process, while the company's gross margin is around 7%. In 2016, the gross profit margin/net profit margin of the business reached 7.7%/3.9% and the net profit reached RMB170 million.
In the next three years, the company will continue to focus on supply chain management companies and establish 20 holding-type project subsidiaries in major regions of the country. Each project has a registered capital of 100 million yuan, of which supply chain management companies account for 51%. %, the remaining 49% are owned by a number of partners with deep industry experience and rich industry resources in the apparel fashion field in the region. At the same time, the company plans to build a B2B manufacturing and procurement platform with complete information and functional services, which is a fashion-oriented network. It will provide supply chain resources nationwide, and provide a series of supply chain services and designs for brands, manufacturers, such as procurement, warehousing and distribution. stand by.
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