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Jiangsu Sainty (company)

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Jiangsu Sainty Corp., Ltd.
FormerlySainty International Group Jiangsu Garments Imp. & Exp. Co., Ltd.[1]
Company typepublic
SSE: 600287
ISINCNE0000014H8
IndustryManufacturing
PredecessorJiangsu Garments Imp. & Exp. Corporation[1]
Founded28 December 1993; 30 years ago (1993-12-28)[1]
Headquarters,
China
Productsclothing[2]
BrandsSainty
Increase CN¥83 million (2017)
Total assetsDecrease CN¥3.933 billion (2017)
Total equityDecrease CN¥1.737 billion (2017)
Owner
Jiangsu Provincial Government [zh] (via Jiangsu Guoxin Group)(49.97%)
Number of employees
2,526 (2017)
ParentJiangsu Guoxin Group [zh]
Chinese name
Simplified Chineseこう苏舜てんまた份有げん公司こうし
Traditional Chinese江蘇こうそしゅんてんまた份有げん公司こうし
Chinese short name
Simplified Chineseこう苏舜てん
Traditional Chinese江蘇こうそしゅんてん
Websitewww.saintycorp.com
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[edit]

Jiangsu Sainty Corporation Limited was incorporated in 1993 as a "company limited by shares" (Chinese: また份有げん公司こうし; similar to public limited company), by transforming a state-owned enterprise namely こう苏省服装ふくそう进出こうあつまり团)公司こうし (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: こう苏舜天国てんごく际集团) 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: こう苏舜天国てんごく际集团服装ふくそう进出こうまた份有げん公司こうし).[1] It became a listed company in 2000. Before the initial public offering, Jiangsu Provincial Government [zh], 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 [zh].

Jiangsu Sainty also acquired a significant stake of a financial leasing company 南京なんきんこく际租赁 (now こう苏省こく际租赁) 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[edit]

In 2013 Securities Daily (Chinese: 证券) 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[edit]

  1. ^ 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.
  2. ^ 服装ふくそうくわだて业在“あらいぱいちゅうつちかえそだてしん优势 だかはし场兴おこり. くに际商报 (in Chinese (China)). 8 May 2016. Retrieved 31 May 2018 – via XiahuaNet.[dead link]
  3. ^ 2017ねん年度ねんど报告 [2017 Annual Report] (PDF) (in Chinese (China)). Jiangsu Sainty. 27 March 2018. Retrieved 3 June 2018 – via Shanghai Stock Exchange website.
  4. ^ こう苏舜てんよし贸易ちゅう间商转型为综合服あいふく务商. だいいち财经 (in Chinese (China)). 4 April 2014. Retrieved 31 May 2018.
  5. ^ こう苏舜てん资产おけ换腾挪 基金ききん疑惑ぎわくまち购资产业绩暴ぞう. 21せい纪经济报どう (in Chinese (China)). 19 October 2012. Retrieved 3 June 2018 – via East Money.
  6. ^ 关于转让南京なんきんこく际租赁有げん公司こうし25.96%また权的公告こうこく (PDF) (Press release) (in Chinese (China)). Jiangsu Sainty. 6 August 2015. Retrieved 3 June 2018 – via Shenzhen Stock Exchange.[permanent dead link]
  7. ^ こう苏舜てん2亿预づけ款迷雾 うたぐかけ款方剪不断ふだん还乱. Securities Daily (in Chinese (China)). The Economic Daily Press. 25 September 2013. Retrieved 31 May 2018 – via Sina news portal.

External links[edit]