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However, Chairman Lin Cong Ying told reporters that he is not particularly satisfied with the current market value of Jiu Mu Wang. He believes that as long as the company's profit is good enough, including a certain market share and sustainable development, the market value will be a reasonable return in the long term. . Lin Congying, Chen Jiapeng, Lin Yujie, Zhang Jingyi, Chen Jiayao, Wang Hao, Tong Jinzhi and Xue Zuyun formed the board of directors of Jiu Mu Wang. Chairman Lin Cong Ying is the actual controller.
Menswear industry chain
"As for how to formulate a strategy, we will generally determine the general direction of a three-year plan, and then adjust it every year according to changes in the industry and the promulgation of relevant national policies." Lin Cong-ying told reporters in this way that the layout of Jiumu Wang in overall strategy.
Talking about the core competitiveness of the company, Lin Congying emphasized that Jiumu Wang will focus on the men's field and thus extend the relevant industry chain. According to the 2011 annual report of Jiumuwang, the company's men's trousers and jacket achieved an income of 1.1 billion yuan and 456 million yuan respectively, accounting for 48.72% and 20.21% of the main operating income.
Especially in the trousers market, Jiu Mu Wang has ranked second in the country for market share for several consecutive years, and the company also uses menswear as a fulcrum to create vertical integration of design and development, production, sales, brand promotion and other industrial chains.
From the perspective of specific development strategies, the goals of the King of Animal Husbandry are divided into three different stages: short-term, medium-term and long-term. Its short-term goal is to expand the size of men's trousers in the market, and create relevant men's wear varieties around men's trousers to strengthen the brand's position. In the medium term, multi-brand construction based on men's clothing will become the focus and strive to meet market segments. And different consumer needs; on the long-term development goals, Jiumu Wang Wang intends to open up overseas markets and become an international clothing brand operator.
In addition, Jiumu Wang has built several brands, subdividing the market from the structural layout of the apparel industry. Currently, the company has three sub-brands: FUN, Calliprimo, and VIGANO. The multi-brand operation plan will cover different markets from low-end to high-end.
Frequent capital operations
“One responsibility of the company is to build the life and interest community of the country, society, investors, and employees.†Lin Caoying expounded the starting point of the company's capital operation, and the nine animal husbandry Wang had frequent investment and financing actions in 2012.
In February this year, Jiumu Wang launched an equity incentive plan. The announcement said that it intends to issue 6.5 million shares to the incentive target, with an exercise price of 21.13 yuan per share. The target includes 150 directors, senior management personnel, middle management personnel, and core technical personnel. The condition of exercising rights is that in the three years from 2012, the company's net profit growth rate is not lower than 44%, 72%, and 107%, and the ROE is not lower than 11%, 12%, and 13%.
In June this year, Jiumu Wang introduced the dividend return plan for the next three years. According to the announcement, the company can use cash, stocks, or a combination of cash and stocks to distribute dividends. The annual profit distributed by way of cash is not less than 10% of the distributable profits of the current year, and it has been accumulated in cash over the past three years. The profit should be at least 30% of the annual average distributable profit realized during the same period.
Finally, when talking about the relationship between the King of Nine Animal Husbandry and its seven competitors, who also come from Fujian, Lin Congying emphasized that since he came from the same region, he is always a good friend. From the overall performance of the two companies last year, although the King of the nine animal husbandry in the income of 280 million yuan less, but through effective cost control, Jiumu Wang's net profit is higher than the seven wolves by 0.34 billion yuan, the current market value of more than 16 billion yuan is also slightly Leading seven wolves (13.9 billion).
Talking about the core competitiveness of the company, Lin Congying emphasized that Jiumu Wang will focus on the men's field and thus extend the relevant industry chain.
As a new star listed on the market last year, Jiumu Wang's industrial chain ambition and keen interest in capital operation are extraordinary. In the past year or more since listing, the stock price of Jiu Mu Wang had fallen below the issue price, and it had reached a minimum of 17.9 yuan per share. As of June 28, Jiu Mu Wang closed at 27.72 yuan/share, corresponding to a market value of 16.04 billion yuan.
September 22, 2019