The temperature in September is still warm as in spring, but winter has been the textile industry continues to this day, and biting cold. Facts have proved that the earlier implementation of the export tax rebate rate and raise the export enterprises can not make a loss out of position. Home prices have more to invest in real estate or financial investments, the textile business with companies other than other sources of profits. Friends of the Jiangsu is no exception, the eyes of the Beidou / GPS dual-mode synchronous timing equipment projects (hereinafter referred to as: Beidou project), from the high-tech industry was in the proceeds is to improve the performance of the company.

One of the two taxes are the main cause decline in performance?

Jiangsu full name of the Friends of the Friends of the Jiangsu Group Co., Ltd., Nantong three of the original Friends of the Fashion Co., Ltd., was established in June 1990 by the Industrial Co., Ltd. Nantong friendship with Japan Co., Ltd. to jointly invest to set up three rounds.

Friends of the Jiangsu is China’s largest OEM and ODM manufacturers of high-grade ladies, now have high-end fashion 20,000,000 (sets) of annual production capacity to launch their own design style balance of 2000, was to use the brand’s production amounted to more than 600 Section. So far, the Friends of the Jiangsu-made clothing to achieve 25% of their own design and development.

It is learned that Jiangsu Friends of the products exported to the Japanese market, mainly engaged in manufacturing high-end fashion brand, though, to a certain extent, away from the small and medium enterprises in Jiangsu and Zhejiang and other places in Japan, the market price of the same competition, but as a Export-oriented textile enterprises in Jiangsu Friends of the three could not escape the rapid appreciation of the yuan and the export tax rebate rate and other factors, January to June of 2008 operating results compared to the same period last year dropped to a certain extent.

During the reporting period, the company to achieve operating income 163,859,500 yuan, 32.50 percent reduction in the same period last year, the total profit of 5,548,900 yuan, 41.69 percent reduction over the same period last year, made a net profit of 3,651,500 yuan, 43.39 percent reduction over the same period last year. In 2008 and is expected to be January to September net profit fell 30% -50%.

As a result, the Friends of Jiangsu for the export of foreign-invested enterprises, according to the 2007 annual income tax of 12% taxation, but from January 1, 2008, in view of the country’s fiscal and taxation policy adjustments, China began to implement a new “Enterprise Income Tax Law” The new tax law is implemented, Jiangsu Friends of the income tax will be 25% taxation.

But as far as professionals, Jiangsu Friends of the performance was mainly due to the decline in revenue over the same period in 2007 decreased by one-third make a profit declined by one-third of the total, while the income tax rate of improvement in which the role was not as imagined In so much.

According to the 2008 semi-annual report showed that the revaluation of the yuan to accelerate, increasing pressure on corporate costs and other factors, Jiangsu Friends of the three individual has a loss situation. In addition, the Friends of Jiangsu There are three companies under liquidation as a result of reduced financial statements of the scope of the merger. Not only that, Jiangsu Friends of the board of directors and management layer with the principle of prudence, but also take the initiative to adjust the investment in high-grade fabric production line simulation technology projects in progress, with the result that the actual amount of investment is less than the amount planned. Analysts said that Jiangsu is likely to Friends of the reasons for the caution to a certain extent, the tightening of listed companies in the textile industry’s size, this can reduce the loss of a source.

“Beidou” Friends of the three can improve the financial it?

Youngor relative to the real estate investment in the success of the project, such as Shanshangufen part of the spin rate of investment in other industries have also gained more than the main textile industry, higher profits in the face of the main counterparts in non-textile industry was on high The amount of profit, Jiangsu Friends of the three can not help but start inviting investment in high-tech “Beidou project.”

Throughout history, had said that the Friends of Jiangsu in the “Beidou project,” the investment some time later. November 7, 2007 bulletin shows that Jiangsu and the Friends of the National Defense University of Science and Technology and Automation Institute of Electrical and Mechanical Engineering, Shanghai Jiang Chu Sung Woo has signed scientific and technological development “Beidou satellite system equipment, industrial applications,” project co-operation agreement. It is also Since then, only the Friends of Jiangsu into the “Beidou project” construction. The project investments are identified, was in hot pursuit of the vast number of investors, Jiangsu Friends of the shares also rise again and again, from the share price of 8.38 yuan at the time / had the highest share rose to 12.97 yuan / share.

Data showed that the Friends of Jiangsu and the Shanghai Science and Technology Sung Woo Chu River Development Co., Ltd. to jointly invest to set up two Beidou Jiangsu Science and Technology Co., Ltd., and United Nations anti-University of Science and Technology and Automation Institute of Electrical and Mechanical joint research and development, push forward the industrialization of China’s Beidou system, “dual-mode timing Synchronization equipment “for traction, common research and development equipment Beidou system products.

Beidou science and technology with a registered capital of 500 million, of which three Friends of the cash investment in Jiangsu 3,750,000 yuan, accounting for 75% of registered capital, technology Sung Woo technology shares price (paid by the Friends of the Jiangsu technology transfer cash 1,250,000 yuan), accounting for registered capital 25%.

In view of the “Beidou project,” the relatively late start, could not produce benefits, in order to speed up the progress of the Friends of Jiangsu this year to increase again March. After the capital increase, the registered capital of science and technology Beidou 20,000,000 yuan. The three-JIANGSU Friends of the cash invested 15,000,000 yuan, accounting for 75% of registered capital. Sung Woo price of technology to science and technology funding (from technology companies paid a total of 5,000,000 yuan of cash transfer), accounting for 25% of registered capital. “We are on the company or the project is of great importance, but also with the technical side of the co-operation is very smooth.” Jiangsu Friends of the Securities Department said.

Although the pilot, the network is tested and the formation of industrial products in time there is a certain degree of uncertainty into the outcome there is a certain degree of technical risk and market risk, but on August 13, the Friends of Jiangsu Notice “Beidou project” is completed These trials network, attentive investors began to look forward to this project will bring the future of the proceeds.

Friends of Jiangsu in the second half of 2008 operating plan has said that the completion of Beidou / GPS dual-mode timing stations time synchronization between network devices are working on the basis of the test, the focus will be to support the Big Dipper Holdings, a subsidiary of Jiangsu Science and Technology Co., Ltd. for the formation of industrialization To actively explore the market.
Although investors keen to “Beidou project” in production, however, Jiangsu Province, according to Friends of the above-mentioned three staff members revealed that at present unable to determine the project’s running time, at the same time also said that the company will notice when Hou.

United Securities analyst said that if the project can proceed smoothly industrialization, the company is, of course, is a good, but the project before the operation, not how much good it will bring a profit. The new investment will always be a certain degree of risk exists, but in time, the Jiangsu-you can not benefit from this year, “Beidou project.”