Recently, Meibang Apparel announced that the company is planning an asset sale, which is expected to constitute a major asset restructuring. The assets sold this time are the shares of Shanghai Huarui Bank Co., Ltd. (hereinafter referred to as “Huarui Bank”), the company’s joint-stock company.
According to the announcement, the target of Meibang Apparel’s sale is the shares of Shanghai Huarui Bank Co., Ltd. (hereinafter referred to as “Huarui Bank”), the company’s joint-stock company, which is jointly held by the company It owns 15.00% of Huarui Bank’s shares and plans to sell 10.10% of Huarui Bank’s shares this time.
Meibang Apparel also expressed its willingness to continue selling the remaining 4.9% shares held in Huarui Bank.
Meibang Apparel stated in the announcement that the company will subsequently negotiate with the counterparty and sign relevant agreements, and hire independent financial advisors and legal advisors to verify the transaction and issue relevant documents. Provide professional opinions and submit this transaction to the company’s board of directors and shareholders’ meeting for review.
Meibang Apparel said that the assets sold this time are assets with low correlation with the company’s main apparel business, which is conducive to revitalizing existing assets and is in line with the company’s strategic plan. The proceeds from the sale of assets will be used to supplement the company’s liquidity, which will have a positive impact on the company’s financial status and operating results.
At the same time, the company will integrate resources in the future, focus on its main business, and strengthen its competitiveness in clothing design and sales, brand promotion and other related fields.
Previously on March 9, Meibang Clothing issued an announcement stating that the company and its holding subsidiary Shanghai Bangou Information Technology Co., Ltd. planned to acquire 100 shares of Shanghai Model Industry Co., Ltd. jointly held by the company. % equity is sold, with a total proposed sale amount of 448 million yuan.
Therefore, the first-quarter performance forecast released by Meibang Apparel on April 14 shows that it is expected to make a profit of 88 million yuan-132 million yuan in the first quarter of 2021, while the same period last year was A loss of 219 million yuan.
According to Meibang Apparel’s 2020 performance report, Meibang Apparel achieved total operating income of 3.819 billion yuan, a year-on-year decrease of 30.1%; net profit was -854 million yuan, a year-on-year decrease of 3.5%. </p
