Manufacturing and sales and the silk adjustment and investment project

Listed only half a year, Jia Xin Silk (002404, closing price of 22.4 yuan) has been the second time to raise investment projects to make adjustments. Today (December 14), the company announced that the "Silk woven apparel project" To change "Jia Xin Silk brand Project."　　and the original project to raise 60.5 million yuan to change the investment, all used for domestic brand apparel production and sales. According to the announcement, the specific changes in the content is mainly set up branch offices, by its domestic direct sales and chain franchise model production and sale of domestic brand silk clothing, the plan within 3 years to open the flagship store, direct camp counters, stores and franchise a total of 142. One of the direct flagship store 5, direct marketing counters and stores 61, network sales Platform 3, joined the store 73.　　Domestic brand production research and development base in the company's industrial park construction, the project needs land for the company retained land, land has been requisitioned. The project changes, to form 100 sewing machine production scale, specialized ancillary production company research and Development, design of domestic brand clothing.　　The project will be integrated to upgrade existing sales channels, 3 years to open the flagship store direct, straight camp and join the general store total 142, to achieve 120 million yuan sales target. In fact, as early as June 9, the company intends to be one of the investment projects "silk fabrics and embroidered decorative silk project" The implementation of the main changes to the special Hin weaving.　　The project site is adjusted to the existing plant of the special Hin weaving. It is worth mentioning that the construction period of the project is 12 months. Project construction in the year production of 30%, is expected to achieve sales of 36 million yuan, the construction period of the second year of production 60%, to sell 72 million yuan, the construction period of the third year of production 100%, to sell 120 million yuan. However, the company also expects the project to be profitable until the next year. corresponding to the net profit of 1.68 million yuan, the third year corresponding net profit of 9.63 million yuan.　　Data show that the first 9 months of this year, the company's net profit of 54.0878 million yuan, the first half, exports accounted for 72% of the income, domestic sales ratio of 28%. In contrast, the "Silk Woven apparel project" has been abolished, despite the annual sales of 267 million yuan, the new profit of 18.5929 million yuan. But its internal yield remains below 4% per cent of the new project.　　At the same time, the company said that the change was mainly due to export blocked exports and through the establishment of its own brand, expand the domestic market. Yesterday, a northern brokerage clothing researcher to the "Daily economic news" Reporter said that the company changed to raise the investment is actually made to brand, and the determination is obvious. The impact of the project should be seen from two aspects, on the one hand, the new project due to the construction of the channel, will certainly generate some of the period costs. And the cost increases may affect next year performance, on the other hand, because of the consumer upgrades, the brand channel construction is the clothing stock one big trend, therefore this news to the stock price certainly is positive.