Jiangsu Sainty (company)
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| Formerly | Sainty International Group Jiangsu Garments Imp. & Exp. Co., Ltd.[1] | ||||||
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| Company type | public | ||||||
| SSE: 600287 | |||||||
| ISIN | CNE0000014H8 | ||||||
| Industry | Manufacturing | ||||||
| Predecessor | Jiangsu Garments Imp. & Exp. Corporation[1] | ||||||
| Founded | 28 December 1993[1] | ||||||
| Headquarters | , China | ||||||
| Products | clothing[2] | ||||||
| Brands | Sainty | ||||||
 CN¥83 million (2017) | |||||||
| Total assets |  CN¥3.933 billion (2017) | ||||||
| Total equity | CN¥1.737 billion (2017) | ||||||
| Owner |
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Number of employees | 2,526 (2017) | ||||||
| Parent | Jiangsu Guoxin Group | ||||||
| Chinese name | |||||||
| Simplified Chinese | 江苏舜天股份有限公司 | ||||||
| Traditional Chinese | 江蘇舜天股份有限公司 | ||||||
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| Chinese short name | |||||||
| Simplified Chinese | 江苏舜天 | ||||||
| Traditional Chinese | 江蘇舜天 | ||||||
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| Website | www | ||||||
| Footnotes / references in consolidated financial statement[3] | |||||||
Jiangsu Sainty Corporation Limited is a Chinese listed company based in Nanjing, Jiangsu Province. The company exported clothes to overseas.[4]
Jiangsu Sainty was majority owned by Jiangsu Sainty International Group. However, it was merged with fellow state-owned Jiangsu Guoxin Investment Group in 2010, becoming an intermediate holding company.
History
Jiangsu Sainty Corporation Limited was incorporated in 1993 as a "company limited by shares" (Chinese: 股份有限公司; similar to public limited company), by transforming a state-owned enterprise namely 江苏省服装进出口（集团）公司 (literally Jiangsu Province Garments Import & Export (Group) Corporation).[1] At that time employee owned a minority stake of the new legal person.[1] In December 1996, a new intermediate holding company, Jiangsu Sainty International Group (Chinese: 江苏舜天国际集团) was formed.[1] In the next year Jiangsu Garments Import & Export Co., Ltd. was renamed to [Jiangsu] Sainty International Group Jiangsu Garments Imp. & Exp. Co., Ltd. (Chinese: 江苏舜天国际集团服装进出口股份有限公司).[1] It became a listed company in 2000. Before the initial public offering, Jiangsu Provincial Government, via Sainty International Group, owned 81.81% shares and was proposed to diluted to 60.38%.[1]
In 2010, the parent company Sainty International Group was merged with fellow state-owned holding company Jiangsu Guoxin Group.
Jiangsu Sainty also acquired a significant stake of a financial leasing company 南京国际租赁 (now 江苏省国际租赁) from parent company Jiangsu Guoxin Group in 2013 (announced in 2012[5]). However, in 2015 the stake was sold to a subsidiary of fellow state-owned enterprise Jiangsu Broadcasting Corporation.[6]
Controversies
In 2013 Securities Daily (Chinese: 证券日报) criticized Jiangsu Sainty had a large sum of prepayment to a former related parties. Jiangsu Sainty clarified that the prepayment to the business partner was part of a normal operation, despite that company was owned by a former employee of Jiangsu Sainty.[7]
References
- ^ a b c d e f g h 招股说明书 [Prospectus] (in Chinese (China)). Sainty International Group Jiangsu Garments Imp. & Exp. 10 August 2000. Retrieved 4 June 2018 – via jrj.com.cn.
- ^ 服装企业在“洗牌”中培育新优势 高端市场兴起. 国际商报 (in Chinese (China)). 8 May 2016. Retrieved 31 May 2018 – via XiahuaNet.
- ^ 2017年年度报告 [2017 Annual Report] (PDF) (in Chinese (China)). Jiangsu Sainty. 27 March 2018. Retrieved 3 June 2018 – via Shanghai Stock Exchange website.
- ^ 江苏舜天：由贸易中间商转型为综合服务商. 第一财经日报 (in Chinese (China)). 4 April 2014. Retrieved 31 May 2018.
- ^ 江苏舜天资产置换腾挪 基金疑惑待购资产业绩暴增. 21世纪经济报道 (in Chinese (China)). 19 October 2012. Retrieved 3 June 2018 – via East Money.
- ^ 关于转让南京国际租赁有限公司25.96％股权的公告 (PDF) (Press release) (in Chinese (China)). Jiangsu Sainty. 6 August 2015. Retrieved 3 June 2018 – via Shenzhen Stock Exchange.[permanent dead link]
- ^ 江苏舜天2亿预付款迷雾 疑欠款方剪不断理还乱. Securities Daily (in Chinese (China)). The Economic Daily Press. 25 September 2013. Retrieved 31 May 2018 – via Sina news portal.
External links
- Official website (in Chinese and English)
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