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The Clothing Giant Has Been Developing For A Long Time To Seek "Bigger And Stronger".

2013/5/31 15:54:00 136

was once referred to as a typical example of industrial diversification. Domestic a target= "_blank" href= "//www.sjfzxm.com/" > clothing < /a > well-known enterprises YOUNGOR accounted for more than the main garment industry in real estate and financial income. Nowadays, financial investment is no longer in sight, real estate is in a predicament, all of which make the "cross-border" a target= "_blank" href= "//www.sjfzxm.com/" > textile < /a > clothing enterprises scrambling, but in the clothing industry, the debate on the development of cross industry diversification, or the focus on Deepening the development of clothing industry is never stopped. 
 clothing giant has long been "not doing business" /strong /strong >
 although the clothing industry is YOUNGOR's leading industry, but the surge of real estate business and equity investment, YOUNGOR's textile and garment industry is relatively "dim". 
 data show that the total sales revenue of YOUNGOR in 2002 is 2 billion 400 million yuan, the total income of shirts and Western-style clothes is 1 billion 300 million yuan, accounting for 54% of the total sales; the sales income of 2006 is 6 billion yuan, of which the total income of shirts and Western-style clothes is 1 billion 700 million yuan, accounting for only 28%; after experiencing the most stringent market regulation in the history of 2012, YOUNGOR's real estate development has earned 4 billion 796 million yuan, and still exceeds the 4 billion 83 million yuan of the clothing sector in 2002. 
 in fact, from 1992 to Macao real estate development, YOUNGOR has been involved in housing for 21 years, becoming Ningbo's largest local real estate developer step by step. 12 years later, in 2004, YOUNGOR began to embark on the road of rapid expansion of real estate. 
 2009, in the peak period of China's real estate market, YOUNGOR's real estate business accounted for 42% of the total revenue of the company. In 2010, the contribution of YOUNGOR's real estate industry to total business revenue reached 47%, and its contribution rate was almost half. This fashion plus real estate plus financial model was once regarded as a template for Chinese companies to invest in their main businesses. 
Less than P, however, in 2011, after severe market regulation, YOUNGOR property also began to disappear. YOUNGOR has been saddled with expensive costs because of its high price. 
 relevant information shows that as of the end of 2012, YOUNGOR's inventory balance reached 23 billion 473 million yuan, an increase of 166 million yuan compared with the beginning of the year, accounting for 47% of the total assets of the company, its current liabilities amounted to 33 billion 336 million yuan, while the cash held only amounted to 3 billion yuan. Excluding YOUNGOR's clothing business, the stock amount of 1 billion 521 million yuan, YOUNGOR's inventory in the real estate sector reached about 20000000000 Yuan, accounting for 70% of the liquidity of YOUNGOR at the end of last year. 
 from 1992 to the present 21 years, YOUNGOR's real estate business has entered the "mediocrity" from glory. The industry agreed that in addition to the continuous real estate regulation policies, YOUNGOR's high price strategy and lack of professionalism are important reasons. 
 in the face of pressure, YOUNGOR chairman Li Rucheng has said in an interview with the media that due to the loss of financing function in the real estate market and capital market, the mixed operation of real estate and clothing has seriously restricted the overall development of YOUNGOR. "YOUNGOR will adjust the real estate business according to the total amount of funds, and expand the production and operation of < a target=" _blank "href=" //www.sjfzxm.com/ "> brand clothing < /a >, originally it is" clothing, real estate, investment "three legs at the same time walk at the same time, now is the clothing industry, and the other two industries are complementary. 
 diversified development seeks "bigger and stronger" /p >
Less than P, it is beyond the expectation that YOUNGOR has made efforts again in January and May this year, but has taken a joint approach to avoid potential risks in the market. 
 despite the high inventory of real estate and the risk of breaking up the capital chain, YOUNGOR still seems to have a liking for the real estate business. 
 "YOUNGOR's three major businesses, real estate funding, securities investment is the direction, and the clothing industry is able to do a hundred years of industry." YOUNGOR responsible person explained that many clothing enterprises need to have a consortium behind them, without great financial support, it is difficult for the enterprise to survive for more than ten years and hundreds of years. Without access to real estate and financial investment, YOUNGOR could not have a net asset of about 20000000000. 
 Zhang Dawei, director of Beijing Zhongyuan market research department, said that although there are many unfavorable factors in the real estate industry, the real estate profits are still considerable compared with the downturn of the clothing industry. This is also the reason why YOUNGOR has been hard to return to its main business. 
 industry pointed out that for textile and clothing industry with low added value, it has been fully competitive, and entry threshold is relatively low. Profits which are not high enough are difficult to bring high growth to enterprises. This is one of the reasons why a large number of textile enterprises have diversified strategies in the past few years. 
 reporter survey found that, unlike the real estate industry with high capital threshold, the competition in textile and garment industry is becoming more and more intense. In recent two years, the impact of economic downturn, labor cost increase and RMB appreciation has been in a low ebb, which is basically a small profit industry. 
 data show that as of April 17th, China's textile and garment industry has published 50 annual reports in 2012, with a total inventory of about 57 billion yuan. Compared with 2011, the total inventory of the 50 companies increased by 3 billion 609 million yuan, representing an increase of 6.76% over the same period of 53 billion 373 million. High inventory has not only led to the crisis of the capital chain of clothing enterprises, but also hindered the renewal rate of clothing products, and also seriously reduced the profitability of enterprises. 
 an industry pointed out that, while stranded in high inventory, the garment industry still has to endure high operating costs. Foreign economic downturn has led to a continuous decline in foreign trade orders, and the appreciation of the renminbi, domestic raw materials prices and labor costs continue to rise, including YOUNGOR, many textile and garment companies are facing difficulties. 
 because of the thinner profit margins, some garment factories in the coastal areas have moved their factories out, or even closed factories, and invested funds in the property market or stock market. Textile and garment enterprises including YOUNGOR, Shanshan, Vico essence, red bean stock and black peony have been involved in real estate or other fields. 
 as the first clothing listed company in China, Shan Shan has also started the diversified development mode of clothing and lithium batteries. In the half year of this year, the operating profit of its lithium battery material business has been very close to the business profits of the garment business. Moreover, as YOUNGOR is also a garment enterprise in Ningbo, Shanshan stock has invested in Ningbo bank, and YOUNGOR has been ranked the seventh and third of the top ten shareholders of the Bank of Ningbo. 
 survey shows that many textile and garment enterprises are seeking to "grow bigger and stronger" in the process of seeking transformation from the main business to the ceiling. 
 > strong > diversification or deep tillage main industry dispute. /p >
 in fact, in the face of the market downturn and industry shuffling, the clothing and textile industry is now facing the embarrassment of overall net profit decline and stock surging. It is difficult for many textile enterprises to decide whether to develop diversified industries well, or to focus on deepening the development of garment industry. 
 the recent group of data has attracted the attention of many enterprises: in the more than 2000 listed companies of A shares, the main income composition of 2005~2012 shows clearly that the total number of companies involved in real estate business amounts to 238. In the 2012 annual report, this figure dropped to 133, and there were about 105 in 8 years, and about 44.1% of the housing enterprises chose to "break away from real estate". 
 some people believe that the exploration of textile and garment enterprises in various fields such as real estate and finance is a typical "doing nothing". Especially with the ups and downs of the macro industrial environment and the continuous strengthening of the regulation and control of the property market, the behavior of "real estate" deviating from the main business is nothing but a fire. 
 at the same time, some listed textile and garment industry executives have shown signs of "returning to the main industry". They have declared their return to the main industry, and said that clothing is the main industry, focusing on the development of the main garment industry, and trying to make electricity and brand is the fundamental way out for enterprises. After all, the vast majority of domestic textile and garment enterprises lack brand or brand awareness, and the added value of products is too low, and the ability to expand foreign markets is also limited. 
 however, some industry experts pointed out that clothing enterprises looking for new profit points is actually a way to actively explore the road of "survival" and should not be more accusations. "As a listed company, it is not necessarily the best choice to be too firm in sticking to one mu three points of one's old bank. Active exploration can sometimes bring benefits to investors." 
 for the ups and downs of enterprises on the diversification road, Shandong sulang clothing "a target=" _blank "href=" //www.sjfzxm.com/ "> dress /a > Limited by Share Ltd chairman Wu Jianmin believes that cross industry diversification also has many successful examples. 
 "diversification has no right or wrong points. Any country has any case of diversification success at any time." Some of the garment enterprises in China also carried out cross-border activities. They achieved success in a certain period. However, due to the domestic policy orientation and other reasons, there was a problem in the main industry at a certain time, but can it be said that it has failed in diversification? I don't think we can draw a conclusion in this way. Wu Jianmin believes that under the conditions of enterprise scale and ability to resist risks, corporate governance structure, entrepreneurial team with considerable vitality and sense of innovation, and the integrity of talent team, the most intelligent way for enterprises is to learn from some big enterprises in Europe, America, Japan and South Korea, and so on. In the form of investment, mergers, mergers and acquisitions, and so on, we can use the outside brain to realize the diversification road, rather than entrepreneurs themselves relearn and start business again. 
 industry analysis shows that garment enterprises have no alternative but to develop a strong brand. Many textile and garment enterprises can not find investment channels and methods in existing fields by relying on existing experience, and only expand new industries. However, enterprises should take a long-term view, and should not lock in short-term interests and blindly adjust strategies. For example, we can adopt the "incremental diversification" way, that is, we should not squeeze the main industry investment, not abandon the main business, but mainly see whether the enterprises have extra funds to invest and carry out diversification.