Eaton, The Government's Subsidized Su Mei Da, And Its School Uniform Brand, Ji De, Had Over 600 Million Revenue Last Year.

The Limited by Share Ltd (hereinafter referred to as "Su Mei Da") issued a notice on July 16th that the company and its subsidiaries received a total of 23 million 365 thousand yuan (Unaudited) from all kinds of government subsidies from April 2019 to June.

The announcement shows that the above subsidies relate to 19 items, such as electricity subsidy of Hefei high tech Zone, intelligent factory of intelligent industry, and subsidy fund of intelligent equipment upgrading project in 2018, all of which are related to income.

According to the relevant provisions of the enterprise accounting standards, the subsidy funds provided by the company and the controlling subsidiaries are included in the relevant accounting subjects from April 2019 to June. The above data are not audited, and the final accounting treatment is based on the results of the annual audit of accounting firms.

Public information shows that in 1978, its export volume was $3 million 450 thousand, and its business was mainly exported by mechanical and electrical products. In 1998, the reorganization of the group and the implementation of the key employee stock ownership system became the only foreign trade enterprise commended by the State Council. In 2001, we opened the road of integration of technology, industry and trade. In 2004, China National Machinery Industry Corporation was renamed in 2004. It was renamed Jiangsu Su Mei Group in 2006. It was renamed as Su Mei Da group limited in 2012. In November 2016, the state machine group took over all the assets and liabilities of *ST Chang Linzhu, and injected all the shares of the company into the company to complete the major asset reorganization. In 2018, the company's securities were changed to Su Mei for short.

Its main business is import and export of commodity trade and mechanical and electrical equipment, garden machinery, gasoline and diesel power generation equipment, auto parts, high-speed rail parts and other mechanical and electrical products and textile and garment products R & D, production, trade, and new energy projects, ship engineering, environmental engineering and so on.

The results showed that in 2018, its revenue reached 81 billion 959 million yuan, an increase of 10.63% over the same period last year, and net profit of 455 million yuan, an increase of 27.19% compared with the same period last year. Net profit after deducting the net profit was 448 million yuan, an increase of 91.47% over the same period last year.

During the reporting period, through establishing a Hongkong company, Su Da vigorously expanded its transnational operation and import and export trade based on Hongkong, and achieved 7 billion 353 million dollars in imports and exports, and achieved 15% growth in overseas business over the same period last year. In addition, benefiting from the domestic supply side reform, the prices of commodities such as steel and coal remained high in 2018, making the business scale and profitability of the supply chain operation plate continue to improve. The annual operation scale of steel, coal and ore exceeded 25 million tons, and further established the leading edge of the company in the industry.

Eaton, the school clothing brand of Su Da Da, has been leading the school uniform industry reform for ten years. Its service footprint is over 31 provincial level administrative districts and over 3400 universities. Eaton Ji De actively develops the international layout, integrates the high quality resources of the global value chain, and works with 3M, YKK and British TRUTEX partners to provide good design and dress experience for the Chinese campus. It also promotes the reconstruction of China's common educational value and passes the brand value through the creation of "excellence education", Eaton school, "story field" children's philosophy, public welfare projects, Upcycle abandoned projects and so on. In 2018, the total revenue of Eaton Ji De was 614 million yuan, the total profit was 72 million 220 thousand yuan, and the total profit increased by 20% over the same period last year, showing a trend of high quality development.

Reporters learned here that Su Mei clothing business is mainly divided into various types of export clothing, light textile business and school uniforms. At present, the company is the first garment exporting country in Europe, the first export blanket Market in the world, the first export to the United States market, and the school uniform is the absolute leader in the domestic market. At present, the company's own brand has the HONEYME (Ai Chijano) women's clothing brand and the ETONKIDD (Eaton GDE) school uniform brand, which has led the transformation of Chinese campus dress, showing strong development trend. EASEVER online lifestyle brands such as life home textiles, LAS-VAS Las Vegas women's wear, KINGPETS Jing Bei pet products are also showing vitality.

Ma Xiaotian, an analyst at Shen Wan Hongyuan, said that the development of independent brands proposed by Su Da Da in the 13th Five-Year plan has achieved remarkable results. Eaton has become the first brand of Chinese school uniform. PHONOSOLAR is listed as Tier1 photovoltaic module manufacturer by Bloomberg New Energy Finance (BNEF). "FIRMAN" brand small gasoline generator has been ranked the first brand in the same industry for 8 consecutive years, and the development of its own brand will continuously improve the gross profit of the company.

From the perspective of the survey, all of the subsidiary companies that made the main contribution to earnings are all shareholding plans, about 35% of them are the main body of listed companies, and 65% are full shareholding, which greatly improves the operational efficiency of each business subsidiary and ensures the steady development of enterprises throughout the year. At the same time, Su Mei Da continues to evolve in traditional trade business. Both intelligent logistics, supply chain finance and so on, have greatly improved the phenomenon of inefficiency and resource mismatch in traditional trade, and at the same time empowered the upstream and downstream of the supply chain, which can further consolidate the status of the industrial chain and strengthen the core competitiveness.

In addition, benefiting from the supply side reform, the prices of steel and other commodity prices remained high in 2018, making the business scale and profitability of Sumei supply chain operation sector continue to improve. Meanwhile, since the second half of 2018, the fluctuation of the RMB against the US dollar has continued to increase the profitability of the export business.