Jinjiang Leveraging Capital Market To Boost Industrial Pformation And Upgrading

In October 30th, a dozen mainstream media such as China Securities Daily, Shanghai Securities Daily, securities times, Sina, Sohu and other Sohu also published a paper on "leveraging the capital market and promoting industrial pformation and upgrading" by the Jinjiang Financial Work Bureau.

It is reported that this article won the first prize of the Shenzhen local stock exchange's "heart and heart" essay collection activities organized by the Shenzhen stock exchange in 2015.

The article was awarded by all provincial finance offices, listing offices and some municipal financial offices and a few county financial offices (listed companies). A total of 133 articles were evaluated. Among the 9 first prize winners, only one county finance office of Jinjiang Financial Bureau was listed, and the rest were basically provincial finance offices.

Jinjiang, known as the brand city, has come together.

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Such brands have created economic miracles as a county level city. Jinjiang's economic development has attracted much attention.

Since 1998, Heng An International Group Limited has successfully listed on the main board of Hongkong. So far, there are 44 domestic and foreign listed companies and 46 stocks in Jinjiang, ranking the first in the country, raising 37 billion yuan, and the total market capitalization is over 250 billion yuan.

Jinjiang's listed companies and listed companies accounted for nearly 30% of the total fiscal revenue of Jinjiang, which accounted for more than 60% of the city's fiscal revenue.

At the same time, Jinjiang listed companies and reserve enterprises use capital market platform to play an exemplary and leading role in mergers and acquisitions, integration of industry and finance, intelligent application and Internet plus, and have achieved initial results.

The "Jinjiang plate" of capital market suddenly rising

The private enterprises in Jinjiang are mostly family businesses. The restructuring and listing will enable enterprises to take advantage of the external regulatory platform of the capital market to overcome the drawbacks of family businesses, realize the clarity of property rights, and promote the rapid integration of production, operation and management with the market and the international market.

In the aspect of brand cultivation, when Lang Lang cultivates L2, Shang Zi brand and Anta expand.

In terms of technical pformation, Xingye technology increased by nearly 800 million yuan in 2015, of which 280 million yuan was invested in the industrial intelligent pformation project. After the completion of the project, it was expected to generate 38 million yuan profit every year. In terms of management promotion, Heng An Group carried out three management reforms in 2001, 2009 and 2014, launched the intelligent integration of supply chain, and promoted flat management. In 2015, Heng Heng's international performance reached 12 billion 503 million yuan, an increase of 3.3%, and its operating profit and net profit were about 2 billion 885 million yuan and 1 billion 968 million yuan, respectively, increasing by 8.8% and 10.8% respectively.

In 2015, Xun Xing shares raised no more than 312 million yuan in non-public offering stocks to repay bank loans and supplement working capital.

It is predicted that the company's combined assets liability ratio will be reduced from 51.41% to 34.29% after the completion of the issue, and the current ratio and the quick ratio will increase to 1.46 and 0.98 respectively. It is estimated that the financial cost will be saved by about 11 million 200 thousand yuan per year, while strengthening the sports gene of the group and laying the sports industry ahead of schedule.

It is understood that in recent years, private listed companies in Jinjiang have gradually changed the concept of "better to be a chicken head than a phoenix tail". While developing and expanding themselves, they will consolidate the same industry through mergers and acquisitions, introduce strategic development shareholders across the industry, integrate both resources and achieve strategic expansion.

It is understood that in recent years, there are nearly 20 mergers and acquisitions which have certain influence. The acquisition amount is about 10 billion yuan. For example, Anta completed the 55% stake in Quanzhou global acquisition, 100% holding all fronts (Fujian) shoes material Co., Ltd., Quanzhou Dongda Light Industry Development Co., Ltd., the paction amount is 254 million people's money; Haidong new material sells 29% equity to introduce strategic Shareholder -- China energy conservation group's Chongqing energy conservation company.

At the same time, Jinjiang listed companies, in the practice of capital operation, learn from foreign brand operation experience, expand brand influence, realize brand internationalization, and introduce new industries by adjusting development strategy and development direction.

The seven wolves bought Kenna costumes and had the agency of the world's top clothing brands such as Connally, Versace and the famous jewellery brand, Jason George. The plum blossom umbrella purchased the 100% stake of Shanghai Travel Information Technology Co., Ltd. through a non-public issue of shares, which was pformed from the umbrella manufacturer into a listed online game company.

It is reported that at present, a total of 47 enterprises in Jinjiang have set up business establishments overseas.

"With the gradual deepening of Jinjiang's financial reform pilot zone on the west side of the Straits, Jinjiang's listed and listed reserve enterprises have awakened as the industry leader in the integration of industry and finance, forming a clearer financial development strategy and embarking on the development path of integration of industry and finance.

The leading enterprises of Heng An Group, seven wolves, Xingye science and technology, Meihua umbrella, Sloan group and Hongqiao company have set up all the quasi financing forms including small loan, guarantee, pawn, financial service, capital management, bills company, financing lease and so on in Jinjiang solely owned, holding, and participating in the stock market. Especially in 2015, the seven wolves group was approved to set up the first group financial company in Fujian, which greatly enhanced the synergy effect of strategy, finance and management of industry and finance.

Under the leading role of leading enterprises, Jinjiang has accumulated more than 7 billion industrial capital into the (quasi) financial sector. A total of 61 private financial and quasi financial institutions have been set up, forming a relatively complete and well functioning local private financial organization system, attracting a total of more than 5 billion yuan for financing the real economy.

Jinjiang Finance Bureau official said.

Today, the industry type of Jinjiang listed companies has expanded from traditional textile and clothing, sporting goods, paper making and other traditional industries to building ceramics, new energy, food, umbrella industry, machinery, electronics, online games and many other industries.

The exemplary role of listed companies has led a large number of enterprises to follow suit and standardize operation to promote the overall industrial level of Jinjiang.

More than 40% of the regulated enterprises in the city have introduced fine management mode. Over 100 enterprises have introduced comprehensive management information system in product design and development, manufacturing and other links. From 2013 to 2015, the city has implemented 507 key technical pformation projects of Jinjiang enterprises.

In particular, the restructuring and listing of enterprises in intelligent manufacturing, e-commerce, mode innovation, cross-border integration and other new areas of the first trial, further stimulated the vitality of Jinjiang industry.

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"Jinjiang mode" to accelerate the listing process of enterprises

In the process of accelerating capital market construction and promoting industrial pformation and upgrading, Jinjiang has formed "Jinjiang mode" through exploration and practice.

Jinjiang adheres to the "Three Combinations", combines the role of the government with the market mechanism, integrates policy support and diversified services, combines the support of the classification support with the standardized development, and turns the market mechanism into the strength of the government.

"The listing of enterprises is a market behavior based on their own needs and judgments of the market, and also requires professional institutions' guidance and sponsorship."

The relevant person in charge of the Jinjiang Municipal Finance Bureau said that the Jinjiang government, as the planner, regulator and promoter of Jinjiang's regional reform and construction and development, guides and promotes the integration of resources and the introduction of excellent professional institutions, gradually creates a healthy competitive environment, constantly improves the market service standards and quality, and integrates the functions of the original listing office to set up the Financial Bureau as the government's work department, strictly enforcing the procedures and threshold for the listing of reserve enterprises, and controls the quality of the "Jinjiang plate" at the source.

It is understood that Jinjiang will guide and support the restructuring and listing of enterprises as an important part of financial reform and innovation to promote. Over the years, it has been selected as the two level government financial reform key project of Quanzhou and Jinjiang.

While setting up preferential policies and measures to enhance enterprises' confidence based on reality, the government of Jinjiang should also focus on improving administrative services. "We should properly handle historical issues left behind, in depth linkage with regulatory authorities, exchanges, brokerage firms, intermediary companies, etc., to support enterprise asset restructuring, resource integration, and even above cities as an opportunity to promote all-round innovation of technology, brand, management, quality, marketing and so on."

The head of the Financial Bureau said that Jinjiang's policy of helping and supporting the restructuring and listing of enterprises began in 2001 and followed the trend of industrial development after 2007.

In 2015, we consolidated the original policy and formulated the "opinions on further promoting the development of the financial industry and capital market" and "operation procedures". The policy put forward specific measures from the aspects of resource cultivation, fiscal and tax incentives and subsidies, recruitment and investment guidance, talent introduction, optimization of services and market regulation, and formed a complete set of relatively complete policy system. Over the past few years, we have fulfilled all kinds of subsidy funds exceeding 300 million yuan.

Private enterprises have limited understanding of the capital market, and the relevant normative cost increases the fear of enterprises.

The government of Jinjiang has made full use of the government's "visible hand" and guided the support and demonstration to enhance the main body consciousness of listed companies. According to its development stage, scale and characteristics, it supports enterprises to correctly choose the most suitable way of capital operation, such as domestic market and overseas market, market and OTC market, equity financing and creditor's rights financing, IPO and "buy the shell listing" and "two listing".

"We will guide more qualified enterprises to go public, implement classified guidance for listed companies, and at the same time pay more attention to guiding enterprises to improve their management and standard operation level so as to achieve double enhancement of quality and quantity of listed companies."

The person in charge said that listing is an important way for enterprises to establish and improve the modern enterprise system and make use of the capital market to achieve qualitative leap and jump development. It is also an important starting point for the government to enhance regional economic competitiveness.

The listing of enterprises is only a means. The Jinjiang government guides enterprises to make use of the resource allocation function of the capital market, actualizes innovation drive, merger and acquisition integration, realizes the double enhancement of the scale and efficiency of enterprises, and more importantly, promotes the upgrading and upgrading of traditional industries and the development of new industries through the demonstration and promotion of enterprises in advance.

Jinjiang has made great efforts to implement "China made 2025", popularized the application of "CNC generation", formulated the "Jinjiang production enterprise production line intelligent pformation pilot implementation plan" and supporting policies, and promptly introduced intelligent R & D institutions and manufacturing enterprises; at the same time, the typical pilot enterprises should be selected for the implementation of intelligent production line pformation projects, including the automatic break detection project of Huayu company's warp knitting machine, the pilot plant of the automatic packaging production line of the company, and the reorganization and operation of the production line. 19 items, such as "Anta automatic sewing machine workshop" and "FDY automatic packaging system" of Zheng Qi company, are recommended to apply for the "CNC generation" in Quanzhou.

The role of capital market in local industries is particularly evident in leading industries such as Heng, Anta and other industries.