China Garment NET completes MBO will timing start login gem plan

Xinhua Shanghai, January 28 (reporter Kaoshaohua) China Clothing Network Chairman Chen 28th in an interview, said that the company has now completed management shareholding (MBO), the current enterprise revenue and scale has reached the gem requirements, after the restructuring of the company will then choose the right time to start the Launch Board plan. China Clothing net formerly the largest shareholder net Shing Business Bao (002095,SZ) 27th issued a notice, the original possession of more than half of China's apparel network of shares to reduce to 19. 62%, the cut shares were sold to China Apparel Network Chairman Chen as the representative of the management team and Zhejiang Jianghaoquan Yuan Venture Capital Co., Ltd. After reorganization, the ownership structure of China's apparel network is 60. 38%, Kun yuan to invest accounted for 20%, the network Sheng Business treasure accounted for 19. 62%.　　Deliang, chairman of Business, said the transfer of part of the stake is mainly to achieve equity incentives. Chen said that China's apparel network has completed the internal equity and corporate restructuring plans, after the completion of the equity reorganization, the company can then let go on the gem listing development.　　At present, the company's revenue has been in line with the GEM listing conditions, 2009 Enterprise overall revenue of more than 20 million yuan, of which profit margin in more than 35%. China Apparel Network was established in July 2001, currently has 500,000 registered members, for China's leading integrated apparel industry E-commerce service providers.