Goldman Singer Eyes Keno Technology's "Brothers" Haishu Home

Zhou Jianping, chairman of Haishu Group, one of China's largest high-end menswear production bases, told the Morning Post reporter that the well-known US investment bank, Goldman Sachs, has targeted its subsidiary Hailu Home and intends to invest in shares.

When Zhou Jianping participated in the 8th Jiangsu International Fashion Festival on September 7, he received the above information when interviewed by a reporter from the Post. The Jiangsu International Fashion Festival was sponsored by the Jiangsu Provincial People's Government, organized by the Jiangsu Provincial Economic and Trade Commission and the Textile Industry Association. More than 300 companies from home and abroad participated in the exhibition.

“Just not long ago, Song Xueren, Vice Chairman of Goldman Sachs Asia, visited the company and met with me,” said Zhou Jianping. “They are interested in investing in the company’s Haishu home and have submitted several proposals to me.”

Haishu Group is currently one of the largest high-end menswear production bases in China, and is also the largest shareholder of Keno Technology (600398), a listed company in Shanghai. Last year, the Group's total operating revenue exceeded 10 billion yuan. The "Haili Family" clothing brand store was launched by the company in 2002. Since the first chain store was opened in September 2002, in just four years, Haicang has opened nearly 300 stores across the country. The year-on-year sales growth rate reached more than 50%.

"It is estimated that by the end of 2006, the number of stores in Hailan Home will reach 300, and this year's sales are expected to reach 700 million." Chen Furong, general manager of Hailan Home, said that this will be a miracle for clothing brands.

“They believe that the unique advantages of Haicang House determine that it will become the leading enterprise in the future menswear industry. This is the reason why they actively negotiate with us.” Zhou Jianping proudly told the Morning Post reporter that Hailanzhi The core strengths of the home are: the first choice of clothing self-selection model, distinguishing Other competing brands; taking the lead in forming a complete industrial chain from wool into the factory to fabric textile, clothing design, garment production and retail terminal, each link is its own resources, Without any intermediaries participating in, effectively controlling costs and quality; creating a "full trusteeship" standardized management system, forming a business network centered on the headquarters as a terminal, and building a rapid response system for product design, production, logistics, and sales. , Rapidly expanding sales while staying in service, locked up management risks.

However, Zhou Jianping stressed that he has not yet made a final decision on Goldman Sachs’ proposal. “I'm still comparing these options and I haven’t decided yet,” said Zhou Jianping.

Goldman Sachs is one of the most active foreign investment banks in China. It underwrites large IPOs such as China Mobile, PetroChina, Bank of China, and Bank of Communications. At the same time, the company is also active in the investment field, such as cooperation with CDH China Growth Fund. Purchased Henan Shuanghui Group with a total of RMB 1 billion. However, the current transaction has yet to be approved by the Ministry of Commerce.

Similar to cases such as "Carlyle M&A Xugong" and "SEB M&A Supor", Goldman Sachs' acquisition of Shuanghui has recently become one of the focuses of public opinion. Many people now believe that the leader in foreign mergers and acquisitions may affect China's industrial safety. .