Home / Knowledge / News / Textiles / Shanghai Tiancheng to sell 100% stakes of Zhejiang Baorun

Shanghai Tiancheng to sell 100% stakes of Zhejiang Baorun

02
Feb '11
As per the terms of the announcement made on the Shanghai United Assets and Equity Exchange, Shanghai Tiancheng Venture Capital Co, a company held by China Resources is intending to sell 100 percent stakes of Zhejiang Baorun Wool Textile Co. Ltd for CNY 271 million.

According to the announcement, the stake holder must be a state-owned or a state run company and its overall assets must not be less than CNY 2.5 billion and net assets must in any case be CNY 1.2 billion.

Zhejiang Baorun Wool Textile Co. has a registered capital of CNY 190 million and occupies an area of 130,000 square meters in Jiaxing, located in Zhejiang Province. It is one of the four bases of wool textile industry located in China. It is also a textile as well as foreign trade base of China Resources situated in the golden triangle region of Yangtze River.

In 2010, the Zhejiang company had realized an operating income of over CNY 75.09 million, an operating profit of about CNY 19.81 million and a net profit of CNY 20.13 million.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 4th Aug 2021

US FTC votes to reverse course on repeal of fabric care labels

The US Federal Trade Commission (FTC) recently voted to retain the...

Pic: Shutterstock

Retail | On 4th Aug 2021

June retail turnover in Germany up by 4.2% over previous month

Retail sales in Germany rose much more than expected in June...

Pic: Kontoor Brands/Wrangler

Apparel/Garments | On 4th Aug 2021

US’ Kontoor aims for sustainable growth with diversity & inclusivity

Kontoor Brands, an American apparel company with denim brands like...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Susan Bhaktul,

Susan Bhaktul

Established in 2000 as a liaison with the Government of India, Industree...

Aashumi Mahajan,

Aashumi Mahajan

Luxe Maison is a premiere haute couture e-boutique established after 2015. ...

Nantas Montonati,

Nantas Montonati

The Riri Group is a one-stop supplier of metal accessories for the luxury...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha &amp; Jigar blends India's unique handcrafts...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search