CABBEEN Costumes Will Go To Hong Kong IPO On The 28 Th Of This Month.

< p > yesterday afternoon, leisure < a href= "//www.sjfzxm.com/news/index_f.asp" > men's wear brand < /a > CABBEEN dress announced the listing plan at the HKEx in Hongkong.

The 175 million shares will be issued at a price of HK $2.25 to HK $2.8 per share, with a maximum amount of HK $490 million. Starting from tomorrow, it will be listed on the 28 th of this month.

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< p > at present, the whole < a href= "//www.sjfzxm.com/news/index_f.asp" > garment industry < /a > is in the deep adjustment of going to stock, which is evident in the performance of CABBEEN clothing from 2012 to the first half of this year.

Its revenue in 2012 was 940 million yuan and 130 million yuan, the growth rate was significantly slower than 2011.

In the first half of this year, its revenue and net profit were 335 million 400 thousand yuan and 76 million 900 thousand respectively, with a 20.75% decline in revenue.

Wu Shaoqiang, executive director and chief executive of CABBEEN apparel, said that in order to help distributors reduce inventory, CABBEEN apparel lowered the order from the second half of 2012 to the first half of 2013, resulting in a decline in revenue.

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< p > slower performance in the first half of this year has made CABBEEN's performance challenging in the second half of this year.

"Many clothing brands in the industry may still be in the process of inventory, but we have already completed."

Wu Shaoqiang revealed that in the three quarter, fourth quarter of 2013 and the first quarter of 2014, CABBEEN clothing orders increased by 7%, 26% and 17%, respectively.

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At P's press conference yesterday, < a href= "//www.sjfzxm.com/news/index_f.asp" > CABBEEN dress < /a > revealed that 40% of the fund-raising amount will be used to enhance the design and R & D capabilities; brand promotion and marketing and self retailing will be invested in HK $70 million 900 thousand respectively, with a total investment of 20%.

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< p > the data released by CABBEEN show that the net profit in the first half of 2012 was 59 million 900 thousand yuan, and the net profit in the first half of 2013 increased to 76 million 900 thousand yuan, an increase of 28.4%.

However, it is worth noting that the net profit growth of the company in the first half of this year is not due to the main industry, but because of the increase in government subsidies.

In the first half of this year, CABBEEN received a government subsidy of up to 29 million yuan, while the subsidy amount in the first half of last year was only 200 thousand yuan.

Obviously, if the subsidy was eliminated, CABBEEN's net profit in the first half of this year actually dropped by 20% compared with the same period last year.

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CABBEEN's performance in the first half of this year has been down sharply, but in fact it has also been plagued by inventory pressure and the clean up operation since 2012.

Financial information shows that at the end of 2010, the stock of CABBEEN was 93 million 764 thousand yuan, which increased to 128 million yuan in 2011.

In 2012, CABBEEN adopted a series of adjustments and measures on the continuous rising inventory level.

At the end of 2012, CABBEEN's inventory level dropped to 41 million 25 thousand yuan.

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In 2013, CABBEEN postponed the launch of the spring series to give distributors more time to digest P products.

At the end of the first half of this year, the stock of CABBEEN continued to drop to 21 million 322 thousand yuan.

CABBEEN said that because of the measures to reduce inventory, the company's sales revenue decreased from 423 million yuan in the middle of last year to 20.7% yuan to 335 million yuan in the middle of this year.

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