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Chinese clothing company From Wikipedia, the free encyclopedia
Jiangsu Sainty Corporation Limited is a Chinese listed company based in Nanjing, Jiangsu Province. The company exported clothes to overseas.[4]
Formerly | Sainty International Group Jiangsu Garments Imp. & Exp. Co., Ltd.[1] | ||||||
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Company type | public | ||||||
SSE: 600287 | |||||||
ISIN | CNE0000014H8 | ||||||
Industry | Manufacturing | ||||||
Predecessor | Jiangsu Garments Imp. & Exp. Corporation[1] | ||||||
Founded | 28 December 1993[1] | ||||||
Headquarters | , China | ||||||
Products | clothing[2] | ||||||
Brands | Sainty | ||||||
CN¥83 million (2017) | |||||||
Total assets | CN¥3.933 billion (2017) | ||||||
Total equity | CN¥1.737 billion (2017) | ||||||
Owner |
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Number of employees | 2,526 (2017) | ||||||
Parent | Jiangsu Guoxin Group | ||||||
Chinese name | |||||||
Simplified Chinese | 江苏舜天股份有限公司 | ||||||
Traditional Chinese | 江蘇舜天股份有限公司 | ||||||
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Chinese short name | |||||||
Simplified Chinese | 江苏舜天 | ||||||
Traditional Chinese | 江蘇舜天 | ||||||
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Website | www | ||||||
Footnotes / references in consolidated financial statement[3] |
Jiangsu Sainty was majority owned by Jiangsu Sainty International Group. However, it was merged with fellow state-owned Jiangsu Guoxin Investment Group in 2010, becoming an intermediate holding company.
Jiangsu Sainty Corporation Limited was incorporated in 1993 as a "company limited by shares" (Chinese: 股份有限公司; similar to public limited company), by transforming a state-owned enterprise namely 江苏省服装进出口(集团)公司 (literally Jiangsu Province Garments Import & Export (Group) Corporation).[1] At that time employee owned a minority stake of the new legal person.[1] In December 1996, a new intermediate holding company, Jiangsu Sainty International Group (Chinese: 江苏舜天国际集团) was formed.[1] In the next year Jiangsu Garments Import & Export Co., Ltd. was renamed to [Jiangsu] Sainty International Group Jiangsu Garments Imp. & Exp. Co., Ltd. (Chinese: 江苏舜天国际集团服装进出口股份有限公司).[1] It became a listed company in 2000. Before the initial public offering, Jiangsu Provincial Government , via Sainty International Group, owned 81.81% shares and was proposed to diluted to 60.38%.[1]
In 2010, the parent company Sainty International Group was merged with fellow state-owned holding company Jiangsu Guoxin Group .
Jiangsu Sainty also acquired a significant stake of a financial leasing company 南京国际租赁 (now 江苏省国际租赁) from parent company Jiangsu Guoxin Group in 2013 (announced in 2012[5]). However, in 2015 the stake was sold to a subsidiary of fellow state-owned enterprise Jiangsu Broadcasting Corporation.[6]
In 2013 Securities Daily (Chinese: 证券日报) criticized Jiangsu Sainty had a large sum of prepayment to a former related parties. Jiangsu Sainty clarified that the prepayment to the business partner was part of a normal operation, despite that company was owned by a former employee of Jiangsu Sainty.[7]
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