Xinlong Holdings (Group) Co., Ltd. (hereinafter referred to as “Xinlong Holdings”), an important raw material manufacturer for protective clothing and masks, issued an announcement today (December 2) evening stating that on December 1, the company’s subsidiary The company, Yichang Xinlong Sanitary Materials Co., Ltd. (hereinafter referred to as “Yichang Xinlong Sanitary Materials”) received the “Administrative Penalty Decision” issued by the Yidu Municipal Market Supervision and Administration Bureau on November 30, 2020.
After investigation and confirmation by the Yidu Municipal Market Supervision and Administration Bureau, Yichang Xinlong Health Care during the epidemic prevention and control period , the sales price of meltblown cloth has been significantly increased many times, and the circumstances are serious. According to relevant regulations, the Yidu Municipal Market Supervision and Administration Bureau decided to order Yichang Xinlong Weicai to correct its illegal activities and impose a fine of 3 million yuan.
Xinlong Holdings stated that the company will carefully summarize the profound lessons learned from this administrative penalty, strictly strengthen the management of subsidiaries, take warnings, and prevent similar situations from happening again. .
Xinlong Holdings previously announced that based on the company’s current funding situation, the company plans to make financial contributions to Hainan Chengmai Rural Commercial Bank Co., Ltd., Hainan Lingao Rural Commercial Bank Co., Ltd., Sanya Rural Commercial Bank Co., Ltd., Lingshui Li Autonomous County Rural Credit Cooperative Union, Dongfang City Rural Credit Cooperative Union, Danzhou City Rural Credit Cooperative Union, Wuzhishan City Rural Credit Cooperative Union, Baoting Li and Miao Autonomous County Rural Credit Cooperative Cooperatives, Ledong Li Autonomous County Rural Credit Cooperatives, Hainan Baisha Rural Commercial Bank Co., Ltd., and Ding’an County Rural Credit Cooperatives applied for loans with a total amount not exceeding RMB 300 million, with a term of 5 years, for the company and Operating working capital of holding subsidiaries.
Xinlong Holdings owns a house located in Tancaipo, Old Town, Chengmai County, with a total construction area of 34543.97㎡ and the corresponding allocated land use rights of 465913.81㎡ (land certificate number: Old Town Guoyong [2005] No. 788, 789, real estate certificate number: Chengfang Warrant Certificate Laocheng Gongzi No. 2572, 2573, 2574, 2675, 2676, 2677, 2678, 2679, 1335) and the fourth and fourth companies under the company’s name 35 pieces of machinery and equipment from five spunlace production lines provide the maximum mortgage guarantee for the above-mentioned loans. The company promises that it will not give priority to repaying shareholder loans before the principal and interest of the above-mentioned loans are settled.
Public information shows that Xinlong Holdings is mainly engaged in the research and development, production and sales of high-end nonwoven materials. The company is the first domestic enterprise to introduce spunlace nonwoven material manufacturing technology, with First-mover advantage in the industry. So far, more than ten production lines have been built and put into operation, including spunlace, composite spunlace, SMS, SSS, melt-blown, finishing and non-woven deep processing. The production scale has reached the leading level in the domestic high-end nonwoven materials market.
The financial report shows that in the first three quarters of 2020, Xinlong Holdings achieved total operating income of 1.14 billion, a year-on-year increase of 90%; net profit attributable to the parent company was 210 million, compared with – in the same period last year. 11.216 million yuan, turning a loss into a profit year-on-year. </p
