Zhangjiagang Meiyang Yarn Industry Co., Ltd.
Zhangjiagang Meiyang Yarn Industry Co., Ltd. founded on October 14, 2005 is a subsidiary of Jiangsu Xinfang Technology Group. The company is located on Haiba Road, Daxin Town, Zhangjiagang, Jiangsu, covering an area of76292.2 square meters. Now, it has 450 employees. Major business scope of the company is the manufacturing, processing and marketing of knitted textiles and yarns; as well as the purchase and sale of knitted textiles, raw textile materials and clothes. In the initial period when the company was established, it positioned its product as ordinary yarn. Currently, when market competition becomes more and more fierce, in order to integrate the world economy, the company’s leader decision-making level actively copes with all kinds of challenges, adjusts the operating strategy decisively and upgrades product range to special natural fiber, cashmere yarn, blended yarn and other yarns with high additional value. Thus, the company can meet both domestic and foreign markets’ constant demands for products, supports the marketing strategy of “Foreign Marketing Based, Focus on Both Domestic and Foreign Markets”, takes the road of “going abroad” unswervingly, and gradually realizes “dialogue” with internationally famous fabrics and clothing brands, builds a first-class international marketing network and create its own first customer groups. Established export ratio of the company reaches 70% and its major customer regions include Hong Kong, South Korea, Turkey and Japan. In order to expand the sales channel of the products, stabilize and improve product process, technology and grade and enhance enterprise market competition advantages and development potential, the company uses advanced and appropriate technologies and scientific operation philosophy, and makes use of broad sales channels and years of integrity cooperation relations with Hong Kong investors. The company decides to introduce foreign capital through capital increase, merger and acquisition, invests 35 million US dollars in total, and approved to establish a new joint venture on April 4, 2007 with a registered capital of 12 million US dollars. Although the introduction of foreign capital in recent years has brought the company more development opportunities and made the company achieve some performance. To further enhance the enterprise’ comprehensive competitive strength, expand enterprise scale, optimize the enterprise’s capital structure, establish a direct financing platform, standardize enterprise operation and strengthen enterprise development potential, the Group actively responses to call of the municipal people’s government on promoting listing process of enterprises and transfer stock rights of Zhangjiagang Meiyang Yarn Co., Ltd. internally according to the standard requirements of entire listing of the group. On October 4, 2012, the nature of Zhangjiagang Meiyang Yarn Co., Ltd. was changed from a Sino-foreign joint venture to a domestic enterprise again.