お知らせ • Mar 20
Shandong Weiqiao Pioneering Group Co.,Ltd completed the acquisition of remaining 36% stake in Weiqiao Textile Company Limited (SEHK:2698). Shandong Weiqiao Pioneering Group Co.,Ltd agreed to acquire remaining 36% stake in Weiqiao Textile Company Limited (SEHK:2698) for HKD3.5 per share on December 4, 2023. The payment of the total consideration will be financed by internal cash resources and/or external debt financing. CICC acted as financial advisor to Shandong Weiqiao Pioneering Group Co.,Ltd. Elstone Securities Limited acted as Financial advisor to Independent Board Committee. Shandong Weiqiao Pioneering Group Co.,Ltd completed the acquisition of remaining 36% stake in Weiqiao Textile Company Limited (SEHK:2698) on March 19, 2024. お知らせ • Dec 06
Shandong Weiqiao Pioneering Group Co.,Ltd agreed to acquire remaining 36% stake in Weiqiao Textile Company Limited (SEHK:2698) for HKD3.5 per share. Shandong Weiqiao Pioneering Group Co.,Ltd agreed to acquire remaining 36% stake in Weiqiao Textile Company Limited (SEHK:2698) for HKD3.5 per share on December 4, 2023. The payment of the total consideration will be financed by internal cash resources and/or external debt financing. CICC acted as financial advisor to Shandong Weiqiao Pioneering Group Co.,Ltd. お知らせ • Aug 03
Weiqiao Textile Company Limited to Report First Half, 2023 Results on Aug 11, 2023 Weiqiao Textile Company Limited announced that they will report first half, 2023 results on Aug 11, 2023 お知らせ • Jul 31
Weiqiao Textile Company Limited Provides Earning Guidance for the First Half Ended June 30, 2023 Weiqiao Textile Company Limited provided earning guidance for the first half ended June 30, 2023. For the period, the Group is expected to record a net loss for the six months ended 30 June 2023, the main reasons for which are as follows: (1) in the first half of 2023, under the adverse impact of the global macro market environment, the profit margin of the Group's cotton textile products remained under pressure, and hence the Group would continue to record a gross loss in its textile business in the first half of the year; and (2) in the first half of 2023, although the Group maintained a profit in the electricity business, under the impact of the macro demand, the sales volume of electricity decreased correspondingly as compared to the same period last year, leading to a period-on-period decrease in gross profit; meanwhile, based on the condition of the electricity assets, the Group made an impairment provision for certain of them. Based on the above main reasons, the Board expects that the Group will record a net loss of approximately RMB 500 million to RMB 600 million for the six months ended 30 June 2023. お知らせ • Feb 04
Weiqiao Textile Company Limited Provides Preliminary Unaudited Group Earnings Guidance for the Year Ended 31 December 2022 Weiqiao Textile Company Limited provided preliminary unaudited group earnings guidance for the year ended 31 December 2022. For the year, the group expects to record a loss for the annual results, the main reasons for which are as follows: in 2022, on one hand, under the adverse impacts of factors including the recurrence of the global COVID-19 pandemic as well as the changes in the textile market supply chain landscape caused by the international trade tensions, the domestic and overseas textile markets continued to weaken, leading to an overall decline in the demand for textile products, which resulted in a corresponding decrease in the purchase orders for the group's cotton textile products and thus a period-on-period decrease in the sales volume; on the other hand, the group recorded a substantial increase in the production costs for its textile products as the price of cotton lint, the major raw material for the production of the group's textile products, first increased and then decreased in the year with a period-on-period increase in the average price, and an increase in staff costs as compared with the same period last year. Despite the slight period-on-period increase in the sales prices of the Group's cotton yarn and denim products, the Group's textile business recorded a gross loss in the year of 2022 as such increase in sales prices was exceeded by the sharp increase in the production costs and there was a period-on-period decrease in sales price of grey fabric, resulting in a corresponding increase in the group's inventory provision for decline in value, but such inventory provision for decline in value is not a realised loss; and in 2022, although the group maintained a profit in the electricity business, since the price of coal, which is the major raw material, fluctuated at high price levels, there was a substantial increase in the costs of electricity generation, thereby leading to a decrease in the unit gross profit from electricity generation in accordance with the electricity supply agreement. Based on the main reasons as aforesaid, the Board expects that the Group will record a loss of approximately RMB 1.6 billion for the year ended 31 December 2022. The Board will pay close attention to the overall development of the textile industry in China in 2023, and will make timely adjustments to the Group's operation strategy according to the overall situation of the industry, fully utilise its characteristics and advantages, and continue to make great efforts in aspects including management innovation, cost reduction and efficiency improvement, investments in research and development activities as well as green and intelligent manufacturing, in order to enhance its competitiveness in domestic and overseas markets. 