Taiping Bird Said Zhang Jiangping Brothers, A Major Shareholder, Was Not Investigated By The SFC.

603877.SS, a clothing company based in Ningbo, announced on Thursday night that its actual controller Zhang Jiangping and Zhang Jiangbo are being investigated by the China Securities Regulatory Commission.

However, Taiping bird clothing said that the investigation of the real controller was not related to Taiping bird clothing, but because of alleged violation of the Ningbo 600857.SS trading. It may involve unauthorized disclosure of the Ningbo 100 shares and the illegal trading in the restricted period.

Taiping bird clothing said that the reasons for the investigation were not related to the company, and would not affect the daily production and operation of the company.

At the end of April this year, Zhang Jiangping and Zhang Jiangbo controlled Ningbo Peng Bo Investment Limited launched a minority stake purchase in Ningbo with a view to gaining the rights of the largest shareholder.

The Xu Xiang family, one of the most famous private "big guys" in China, has attracted the attention of the whole market. Ningbo Securities Regulatory Commission also sent a letter to inquire about investment reasons and sources of investment.

Subsequently, the Xu Xiang family controlled company, Tibet Ze Tian Investment Development Co., Ltd., trying to amend the articles of association through the rights of one of the largest shareholders, was considered to be lower than the Zhang brothers' control over Ningbo.

Finally, under the spotlight of media and the concern of the SFC, Peng Bo investment has substantially reduced the investment ratio of Ningbo to 100%, and has reached a strategic cooperation agreement with Tibet Ze Tian.

In August 9th, Ningbo announced that it had completed the acquisition of 5.65% of the company's shares. After the completion of the paction, Peng Bo investment and concerted action held a total of 10% shares in Ningbo.

In the market think, Zhang brothers and Xu Xiang family controlled companies, to Ningbo hundred control struggle for a shake hands and five months later, Taiping bird clothing announcement, the market stunned.

Taiping bird clothing listed at the beginning of 2017 is currently one of the leading local casual wear enterprises in China. It is considered to be one of the top ten garment enterprises in the mainland, only after the 600398.SS, Anta sports (2020.HK), Zhejiang Semir (002563.SZ), La Natsu Bell apparel (603157.SS) (6116.HK), and Li Ning Co Ltd (2331.HK).

Unlike many Ningbo based clothing companies, Zhang Jiangping, founder and chairman of Taiping bird clothing, has repeatedly said that it will focus on its main business after listing.

In response to the question of Ningbo 100 acquisition, Zhang Jiangping also said that Taiping bird started in Ningbo two hundred, so it has a special feeling for Ningbo.

In the past few years, Taiping bird clothing has been trying to pform itself into a young fashion brand. It tries to cater to the current fashion trend and actively launches cooperation with Alibaba Tmall.com's Tmall NYSE:BABA.

In the 2015-2017 fiscal year, group revenue recorded 5 billion 903 million, 6 billion 320 million and 7 billion 142 million respectively, but the 533 million, 421 million and 453 million performance of the group were not satisfactory.

Data show that in the first three quarters of fiscal year 2018, the income of Taiping bird clothing increased by 13.14% to 4 billion 888 million yuan per year, and the net profit of 282 million 300 thousand yuan in 1-9 months was 69.72% higher than that in the same period of 2017. The net profit increased by 49.95% to 116 million 900 thousand yuan after deducting the net profit.

On Thursday's closing, Taiping bird clothing was quoted at 18.29 yuan and its market value was about 8 billion 800 million yuan.

Source: local retail Observer: Chen Yifei