“We want to incorporate the 5,000-year-old culture of China and the ethnic elements with Chinese characteristics into the brand and present the best to the world.” The difference with other listed clothing companies is that the Annunciation has always been a family. Compared with “pure” clothing companies, the main business is clear. Apart from Zhongnan Real Estate, which is owned by the group company, there are not many sideline industries and the focus is on clothing. The goal of becoming an internationalized clothing brand with Chinese characteristics has always been relatively clear.

Foreword: The Annunciation plans to use this raised funds to transform its "more single sales model" - franchise

Zhejiang Baoxi Bird Clothing Co., Ltd. (hereinafter referred to as “Zhongxin Bird”) has been focusing on the capital market for a long time. Since 2002, it has started listing counseling. In August 2004, it passed counseling, accepted and reported the initial application materials, and since then it coincides with the capital market. The share reforms were suspended and put on hold. It was not until September 19, 2006 that Zhezhi officially filed a listing application with the China Securities Regulatory Commission's issuing and approving committee. Unfortunately, it failed to pass the application materials.

At 9:25 a.m. on August 16, 2007, Shengxi Bird successfully opened the door of capital and officially listed on the SME segment of the Shenzhen Stock Exchange. "Anniversary Bird" issue price of 12.6 yuan per share, to close at 48 yuan, an increase of 280.95%. The issuance of 24 million shares of tradable shares this time resulted in a total share capital of 96 million shares.

Listing Reform Operation Mode

Following the successful listing of the Fujian Seven-Wolf in 2004, the Annunciation is the second privately-owned clothing company listed in Shenzhen. The Annunciation also became the first privately owned shoe and apparel company listed on the domestic main board in Wenzhou's full circulation IPO (initial public offering).

Successful listing and financing will lay a good foundation for the future development of Baoxi. The Annunciation plans to use this raised funds to transform its "more single sales model" - franchising. "This model is more suitable for the needs of the brand growth period," but with the growth of the Baoxiu Bird, "it has been unable to adapt to the company's future development" because its "control of the sales channel is not strong enough and it responds to market demand information." Not fast enough, the unified planning of the brand image cannot be fully implemented."

The single affiliate sales model of the Annunciation has allowed it to hit the wall in Beijing and Shanghai. Therefore, listing is very important to the Annals of the Annals of the Birds: change the channel of relying solely on joining, and 100 million yuan is used to build a chain marketing network, including the establishment of a centralized management system and 6 flagship stores and 15 direct-operated landscape stores. In addition to the production line project, it will also invest in the technical transformation project of the brand design and R&D center, and implement 600,000 medium-to-high-end shirt projects, from OEM to autonomous production. In total, the total investment of the four projects is 221.93 million yuan, and Announcement has used its own funds to invest 5.64 million yuan, and plans to use the raised capital of 212.29 million yuan.

At present, the Annunciation plans to build 21 "direct" flagship stores and landscape stores in 21 central cities such as Beijing and Shanghai to "effectively reduce excessive reliance on franchisees and enhance the stability of the marketing network." More importantly, this move can help the Annunciation "gain sales profits in the retail sector and enhance the company's profitability." Under the franchise model, "the price that the company sells to the store is far lower than the price that the store sells."

"The listing of a company is a process, not a result." Chairman of the company, Wu Zhize, told reporters that after the listing of the company, there will be changes in management and operations, but the development of the enterprise will not change at all. In the foreseeable future three or five years The company's operating performance will maintain a steady growth.

Quickly grasp market changes

Looking back at the development of Baoxi Birds, it has undergone many transitions. However, each transition is a quick opportunity to seize the market.

Wu Zhize began to make suits in 1983 and used his own house as a factory to set up a “home workshop” style garment factory. By 1995, assets had reached 20 million. Wu Zhize is very sensitive to the changes in the market. In his ten years of personal entrepreneurship, he has accurately sensed and grasped every opportunity for market transformation and completed the original accumulation.

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