Men'S Clothing Can'T Be Seen? "Red Bean" Transformed "Banker"

Recently, Wuxi tin Merchants Bank has been approved to build and become the second private bank in Jiangsu province and nineteenth approved in the whole country. The red bean group intends to invest 500 million yuan, with a shareholding ratio of 25%, becoming the main shareholder of tin business bank.

This is the completion of the red bean group's layout in the financial field after 6 years. As early as September 18, 2013, the SAIC approved the name of the company. However, Suning bank, which was approved by the tin Merchants Bank, has already opened its business, and the tin Merchants Bank has only been approved to build this year.

In fact, the red bean group's financial and real estate business has already begun to extend.

As early as in April 2002, its Jiangsu red rabbit and red bean investment jointly established red bean home. In November of that year, Hong Kong Group acquired 60% of the stake in the red bean industry, and red bean became the controlling subsidiary of the company.

Over the next few years, real estate has always been one of the main businesses of the company. By 2010, the company's real estate revenue exceeded 1 billion yuan, and contributed more than half of the company's revenue.

In 2016, the total revenue of Hong Kong stock was 3 billion 41 million yuan, and the men's clothing revenue was 1 billion 342 million yuan, accounting for 44.12% of the total revenue, while the real estate revenue was 1 billion 590 million yuan, accounting for 52.27% of the total revenue.

In May 2017, the 60% stake in red bean owned by Hong Kong Group was sold to the holding company, the red bean group.

The red bean men's clothing is the main business of the red bean group. The business mainly covers three major business segments, namely, chain monopoly, e-commerce, and career dress customization. It faces mass consumer groups, and the main sales market is in two or three line cities.

The 2019 quarter red bean direct investment channel revenue of 50 million 805 thousand and 400 yuan, an increase of 10.39% over the same period, the channel of joining 728 million yuan, an increase of 7.38% over the same period, 203 million yuan on the online channel, an increase of 0.17% over the same period.

In the first half of 2019, the share of red bean realized 1 billion 244 million yuan, an increase of 1.10% over the same period, and a net profit of 95 million yuan, down 14.77% from the same period last year. Men's clothing revenue 1 billion 26 million yuan, an increase of 2.04% over the same period, OEM processing clothing revenue of 160 million yuan, down 3.89% over the same period.

Hodo total number of men's wear shops totaled 1360, with a net increase of 22, of which 64 were direct stores, 2 were net clearance, and 1296 were franchised stores, with a net increase of 24.

The business income of red bean clothing business has been increasing, but its profitability has been declining. In addition to the red bean group invested 500 million yuan, the shareholding ratio of 25%, the red bean shares are also expected to invest 100 million yuan, holding 5%.

The second largest shareholder is Jiangyin Cheng Xing Industrial Group Co., Ltd., a controlling shareholder of A shares listed company.

The third largest shareholder, Nanjing De Le Technology Co., Ltd. is a wholly owned subsidiary of the victory company of the listed company. Jiangsu double Elephant Group Limited and listed company collida are listed as the fourth largest shareholders.

Hong Kong shares said that based on the good prospects for development of private banks, the company intends to jointly set up the tin business bank through this joint venture to further expand investment channels and cultivate new profit growth points.

At the same time, we should closely grasp the development opportunities of IOT financial business, give full play to the strategic positioning and resource advantages of the tin Merchants Bank's differentiation, and provide comprehensive financial services such as payment and funds for the private and small and micro enterprises in the industrial chain, and continuously enhance the market competitiveness.