Huafang Textile Group'S Overall Listing Or Growth.

< p > Hua Fang a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > 6 years ago, the controlling shareholders of the controlling group realized that the group's overall listing promise has not yet been fulfilled in July 31st of this year.

Last night, Hua Fang textile announced that the controlling shareholders did not rule out the way to solve the problem by replacing high-quality assets or having strong profitability and other assets that do not exist in the same industry.

This also means that the overall listing of the group will change.

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< p > July 31, 2007, when Huafang textile completed its 100% stake in Xiajin cotton and Xiajin textiles, the controlling shareholder, Huafang group, promised that within 6 years, the cotton spinning business and assets of Huafang group would be injected into Huafang textile products through various feasible ways, including the scale of the paction, so as to realize the overall listing of cotton spinning business and assets.

But then, in 2008 and 2011, Huafang group claimed that due to the unfavorable factors such as industry and environment, the controlling shareholders suspended the implementation of the group's overall listing plan.

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< p > Huafang textile is in the process of planning asset restructuring suspension.

In the near future, a href= "//www.sjfzxm.com/news/index_cj.asp" > investment < /a > is also speculated that the company's current planning matters are related to controlling shareholders' cash commitments.

But last night, Huafang textile announced in the announcement that the conditions of the group's overall listing were still unable to meet.

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< p > the Huarong group's Unlisted cotton textile assets consist of 12 enterprises, covering two major business models, namely, manufacturing and import and export trade.

Based on the benchmark date of June 30, 2013, the Shanghai Association of accounting firms conducted a simulation merger of the Huafang Group Co., Ltd., which was intended to inject assets (unlisted cotton textile business assets) in June 30, 2013. The total assets in 2013 were 5 billion 508 million yuan, the net assets were 193 million yuan, the total operating income was about 2 billion 221 million yuan, and the net profit was about $100 billion.

In 2012, its total assets amounted to 5 billion 368 million yuan, net assets of 242 million yuan, total operating income of 4 billion 424 million yuan, and net profit of -1.06 billion yuan.

Huafang textile said that the profitability caused by the current situation of the textile industry can not meet the requirements of asset injection. The injection of deficit assets is not conducive to enhancing the continuous profitability. At the same time, according to the future macro policy trend, the group's cotton spinning assets are in great risk of impairment, and it is also not conducive to improving the quality of the assets of the listed companies.

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< p > or to appease market investors, Huafang textile said in the announcement that the company and its controlling shareholders did not exclude the way to solve the problem by replacing high-quality assets or having strong profitability and other assets that did not exist in the same industry. At that time, the company would vote through the voting mode of the shareholders' meeting online.

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< p > it is worth noting that < a href= "//www.sjfzxm.com/news/index_c.asp > > Hua Fang textile > /a" also announced the announcement of the progress of asset restructuring last night.

It said that as of the date of this announcement, the company and the parties concerned are actively promoting the work, and the board of directors will hold a meeting after the completion of relevant work to consider the major asset reorganization related motion.

We will wait and see whether the reorganization of the plan will be another commitment scheme sought by the controlling shareholders.

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