Hong Kong) Co., Ltd. Textile Industry Information: Youngor Textile City was acquired for 1.16 billion yuan. Yesterday, Youngor announced that the company and Ningbo Yinzhou District Land Reserve Center (hereinafter referred to as the“Reserve center”) signed the 'Yinzhou District State-owned Construction Land Use Rights Acquisition Contract' (hereinafter referred to as“purchase contract”). The reserve center plans to purchase and reserve the company's industrial land (ie, the Textile City plot) located in Shiqi Village and Jianzhuang Village, Shiqi Street, with a total land area of 307,200 square meters and a total purchase price of 1.163 billion yuan. It is understood that Ningbo Rongye Real Estate Appraisal Co., Ltd. was entrusted by the Reserve Center to evaluate the land and above-ground buildings of the Youngor Textile City plot on February 9, 2015, with a total value of 1.17 billion yuan. After negotiation between Youngor and the Reserve Center, with reference to the total appraisal price of Ningbo Rongye Real Estate Appraisal Co., Ltd., and deducting the residual value of building demolition of RMB 7.297 million, it is determined that the compensation fee for the acquisition of land and above-ground buildings is RMB 1.163 billion. According to industry insiders, the acquisition of the land storage center may be mainly for the consideration of the overall plan, and the acquired land will be supplied to the market in the form of bidding. According to the announcement, the purpose and business scope of Ningbo Yinzhou District Land Reserve Center include operating and managing the land reclaimed by the government, calculating the land reserve funds, and negotiating investment opportunities; obtaining land acquisition funds from financial institutions through mortgage loans and other forms, and conducting use management . Youngor expects that the transaction will generate an after-tax profit of about 570 million yuan, which will have a positive impact on the company's performance. In addition, the company emphasized that it has established a wool
textile industry production base in Shengzhou City, Zhejiang Province, and the production line originally operating in the Textile City plot has been completely relocated to the Shengzhou base, and normal production has begun. The production lines of Shengzhou Shengtai Yarn-dyed Technology Co., Ltd. and Shengzhou Shengtai Knitting Co., Ltd., which were originally operating in the textile city, have also been basically relocated. In the first three quarters of last year, Youngor's operating income fell by 8.67% year-on-year, and its net profit increased by 48.66% year-on-year. Among them, the real estate development business realized a 29.36% decrease in net profit compared with the same period of the previous year due to the decrease in the gross profit of the carry-over project and the immediate reflection of the loss of the Baicuiwan project due to the sale of Lu Yu Investment and the purchase of Yaojing Real Estate.
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