Recently, Xinhe Co., Ltd., the parent company of mid-to-high-end women’s clothing brand JORYA, has been approved for listing and will be listed on the Shenzhen Stock Exchange. Xinhe Shares has submitted IPO applications many times and issued prospectuses in May 2014, June 2016, April 2019, and November 2019.
In this listing, Xinhe shares plan to raise 1.2 billion yuan, of which 670 million yuan will be used for For the brand marketing network construction project of Xinhe Co., Ltd., 150 million yuan was used for the enterprise information construction project of Xinhe Co., Ltd., 100 million yuan was used for the warehousing logistics distribution center project of Xinhe Co., Ltd., and 280 million yuan was used for supplementary Other working capital related to the main business.
Xinhe Co., Ltd. is mainly engaged in the design, production and sales of mid-to-high-end women’s clothing. Its brands include JORYA and JORYA weekend, which are positioned as high-end, and ΛNMΛNI (Enmanlin), which is positioned as mid-to-high-end. There are seven independent brands including GIVHSHYH, CAROLINE, AIVEI and QDA. The main brand JORYA was founded in the early 1990s and is one of the domestic independent high-end women’s clothing brands with a long history.
According to the prospectus data, from January to June 2016, 2017, 2018, and 2019, the company’s operating income was respectively were 1.50 billion yuan, 1.63 billion yuan, 1.76 billion yuan and 900 million yuan, operating profits were 254 million yuan, 267 million yuan, 280 million yuan and 153 million yuan respectively, and e-commerce sales revenue were 139 million yuan and 148 million yuan respectively. , 177 million yuan and 97 million yuan. During the reporting period, the gross profit margins were 73.25%, 75.31%, 75.23%, and 74.94% respectively, exceeding those of peer companies such as Langzi Group, Jinhong Group, Ellisi, and Anzheng Fashion.
The company adopts a business model that combines self-operation and distribution. As of June 30, 2019, the company has 574 branches in all provinces and municipalities across the country except Tibet, as well as in Taiwan and Macau. sales stores.
At the end of 2011, Xinhe shares sold 7% of its shares to L Capital (L Capital), a subsidiary of French luxury goods group LVMH Catterton Asia (formerly Catterton Asia), involving approximately RMB 338 million, making L Capital the second largest shareholder. In January 2018, L Capital sold its equity back to Xinhe International for RMB 518 million.
Xinhe International is the controlling shareholder of Xinhe Co., Ltd. It directly holds 85.22% of the shares of Xinhe Co., Ltd., and indirectly controls 1.50% of the company’s shares through Xinhe Investment, totaling 1.50% of the company’s shares. The actual controller of 86.72% of the shares is JOYRA founder Sun Ruihong and his family members. </p
