Zhejiang and Fujian shoe companies waiting to go public in 2010

Just after New Year's Day, people began to speculate on which shoe companies went public in 2010 and carried out capital expansion. Zhejiang and Fujian, two big shoe companies, were inevitably put on the table for discussion. However, the market status of shoe companies in the two places is quite different.

Zhejiang

Compared to the prestigious Wenzhou shoe and clothing industry in the country, the number of Wenzhou shoe companies listed on the market is paltry. Zooming in to the whole Wenzhou private economy can be called the “leader” of the private economy in the country. number. In 2010, he did not know which shoe company could first break the zero record of private enterprises in Wenzhou footwear listed on the domestic main board.

On July 6, 2008, the launch plan for the listing of Hung Hom Shoes Co., Ltd. was held in Jiang Xin Seaview Hotel in Wenzhou. At the meeting, Hung Hom officially signed a contract with four intermediary agencies and announced that the listing plan was fully launched.

It is understood that the current plan for the listing of the A shares of Hung Hom is actively progressing, and plans to submit the listing application materials to the China Securities Regulatory Commission in 2010. Company executives hope to complete the listing by the end of this year and expect to issue 100 million shares.

Chairman of Red Dragonfly Qian Jinbo once said that he wants every employee to become a shareholder of Hung Hom. Among all Wenzhou businessmen, he has the widest access to professional managers and is therefore called the most "modern management consciousness" entrepreneur. At present, more than 98% of managers in Hung Hom are external professionals. “Hung Hung listed also is the most effective incentive and supervision mechanism for managers. We must be listed.” However, “listing is just a process, a means, and in the final analysis, my ultimate goal is to achieve evergreening.”

If everything goes as planned, Hung Hom will probably first break the zero record of private companies in Wenzhou footwear listed on the domestic main board.

China's largest private shoe company, Aokang Group, is also actively preparing for the listing. According to relevant person in charge of Aokang Group, Aokang is proceeding with the introduction of strategic investors. There are about 20 investment banks and securities companies such as Goldman Sachs and Macquarie. Shares, listings and other issues, but the specific time and place of listing have not been disclosed.

About Wenzhou shoes and apparel market is not hot, mainly because of the poor foundation of the footwear industry, from the original family workshop to the partnership, the initial stage is not standardized, the internal property rights boundaries are blurred, family management and decision-making, etc., from the listing requirements are still very Far, various adjustments in various aspects, such as stock reform and bright trading, are needed. Companies have a long way to go in accordance with the listing requirements. Therefore, many companies are not interested in the operation of listed capital. As for financing, Wenzhou’s private capital is very strong. Enterprises need financing and lending, and private capital is convenient and fast. This is the most direct financing channel for Wenzhou companies.

Fujian

Compared to Wenzhou, Fujian shoe has become the biggest winner. Many shoe companies are listed on the market with the encouragement and support of local governments. Anta, Xtep, 361 Degrees, Peak succeeded in the "listing stage" in Hong Kong. 361 Degrees also borrowed from the success of the listing to further increase the brand and marketing efforts, increase production capacity and independent research and development capabilities to respond to rapidly changing markets and consumer demand. There are also many shoe companies that are quietly preparing for the market in 2010.

The casual shoes brand, Meike International, has been listed on the Hong Kong Stock Exchange (388) for hearings. It plans to list in Hong Kong in February next year and raise funds from 200 to 300 million yuan. The sponsor is China Merchants Securities.

Headquartered in Fujian, Meike headquarters manufactures and sells casual sportswear products, including footwear and apparel. It focuses on developing retail networks in second- and third-tier cities and covers 22 provinces and cities nationwide.

According to the company's development strategy, in the next three to five years, the company will diversify its products, enhance the “Mike” brand, and make it a leading company in the sports and leisure industry in the Mainland. It plans to expand its sales network to 2,000 sales revenue. And profits continue to maintain rapid growth.

Yao Hui, marketing director of Kinglake Sports Products Co., Ltd., said in an interview with a certain media that Kinglake plans to list in the next 3-5 years. The preferred location is NASDAQ in the United States, followed by Hong Kong.

It is reported that the Jordan company has already started work in this area. It is possible to have a listing plan in China within 3-5 years.

Quanzhou's "reserve army" has begun to accelerate its expansion. In the securities market, a veritable Quanzhou plate has formed. From 2007, Anta successfully raised more than HK$3.5 billion in Hong Kong, and financed 2.23 billion and 20 billion Hong Kong dollars at Xtep and 361 degrees respectively, together with local shoe companies Hongxing Erke, Yeli and Crockett that were funded in Singapore, and Quanzhou shoes at the end of 2009. The total amount of enterprise financing will exceed 10 billion yuan.

Three major details to be noted for successful listing

The trend of the times and the time to wait, with the "not bad money" era, listing has become the increasingly convergence of many shoe companies in China. However, when choosing to go public, companies should pay attention to the listing details.

First of all, companies need to choose their listing location based on their own needs and future plans. Note that each market has its own characteristics. According to the analysis, although the market turnover in Singapore and South Korea is relatively small, due to the low market entry threshold, it is also conducive to gaining popularity abroad. This is a good choice for companies seeking to develop overseas markets.

Second, companies must lay a good foundation for listing. Although listing is the only way for the company to become bigger and stronger, if the previous "ground" is not properly packaged and listed, it will cause great trouble for the future development of the company. If companies that are listed on a false “out-of-the-box” packaging will not be able to operate according to promised returns, negative news will soon spread. Companies that originally wanted to use the power of listing to start a brand will instead bear enormous market pressure. If the company has not yet reached the listing criteria, it can be used to "strengthen" its internal strength and wait for the arrival of the timing of the listing.

Finally, clarify the structure of property rights. Many shoe enterprises have the nature of a family business, and most of them rely on the development of kinship relations. For these family-owned companies, there are difficulties in the specification of finance and property rights. In this regard, people in the industry believe that if companies want to quantify property rights to individuals in a single step, it may be difficult to quantify property rights to individuals, but they can first rationalize internal property rights relations first, and separate the property rights of siblings and cousins. Separate companies were established. In addition, in the early stage, companies can reorganize their family assets, start with some high-quality assets, go family-wide, and rationalize property rights.