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INTERCHINA Group Published Letter Of Intent To Offer Shares

2010/7/26 21:08:00 65

Business Suits

   Jihua Group (601718) today issued a letter of intent to offer A shares of not more than 1 billion 157 million shares. According to the arrangement, the company will make an enquiry and promotion work in from July 26th to 30th.


Jihua Group is the largest and oldest military light industry enterprise in China. It has five business segments: professional wear, professional footwear, protective clothing, textile printing and dyeing and leather shoes. The leading industry position and stable customer base lay a solid foundation for the company's leapfrog development.


As the strongest and largest in China Munitions The support group is responsible for the production of munitions products around 75% of the entire armed forces and the armed police force. At the same time, the company is the only supplier of a full range of munitions in the country. It provides various types of military supplies for the army and the armed police force. It has established a whole process, tracking and zero distance service guarantee system, providing professional, systematic and personalized services. It has the capability of system integration production support with full product range, whole war area coverage and whole process service, and is known as "the backbone of military supplies and protection". The group has undertaken more than 80% of the 07 military uniform, 100% of the three army honor guard, military band, ensemble dress, military uniform in Hong Kong and Macao, and all previous military parades.


Act as Business Suits Career Shoes and boots The system service provider of the product is in the leading position in the field of technical equipment, product performance and new product development. The company provides more than 20% of professional clothing for public security, justice, industry and commerce, taxation, railway and other major industries. The market share of the domestic professional footwear market is over 30%. In addition, as the sole shoe manufacturer in China, the group has participated in the development of the Shenzhou series manned spaceship with high technical content.


Statistics show that the performance of China International Group has maintained rapid growth in the past three years, with a compound growth rate of over 20% of operating revenue, and a compound growth rate of more than 50% after deducting non recurring gains and losses.


In 2009, its operating income was 11 billion 28 million yuan, with net profit of 442 million yuan after deducting non recurring gains and losses. It is reported that the fund raised by Jihua Group is mainly used for five major categories and 16 items, such as military and Police Occupational wear construction, military police professional shoes and boots construction, military and Police Occupational wear fabric and home textile product construction, special protective equipment construction, research and development organization function construction, and at the same time, over raised funds will be used to supplement the company's working capital.

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