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We do market started, the capital market is not familiar with" Metersbonwe (hereinafter referred to as Smith Barney) A person in charge of brand promotion, he said in an interview with reporters. & nbsp; & nbsp; & nbsp; because too will IPO on June 20, the Smith Barney and down into the silent period consistent mollified. The source also quite careful with words: "Everything is market success and so after we talk." Nike model "Chinese transplant" & nbsp; & nbsp; & nbsp; the world's oldest sports brand Nike itself We do not manufacture shoes, but on the layout of its authorized production plants worldwide. Brand sales to franchisees do, headquarters only about 70 people responsible for the design and marketing. NIKE flagship in a unique dumbbell-type structure can be endless and flourish. & nbsp; & nbsp; & nbsp; Wenzhou businessmen Zhou Jian suit this model transplanted to China. & nbsp; & nbsp; & nbsp; trifoliate orange raw Huaibei, Exotic Nike model is not acclimatized. Smith Barney played cards are design team +490 133 suppliers than +2000 store marketing terminals. & nbsp; & nbsp; & nbsp; 1995 ?? 4 22, the first "? US Masters Bonwe" store opened in Wenzhou City, Zhejiang Province. Zhou Jian then probably did not think that today 13 years later, Smith Barney made more than 100 million of initial capital has grown to 284 outlets and 1,927 franchise huge market network, 21 subsidiaries casual wear giant. 2007 operating income was 31 million annual design capacity of 3,000 models. & nbsp; & nbsp; & nbsp;? According to Euromonitor statistics, the 2006 US Masters Metersbonwe Cheap air jordans for sale brand casual apparel casual wear products in the domestic retail market share of 0.95% in the domestic market of 12 major ranked first in the largest casual wear brand. In the industry concentration is not high and the brutal competition in the apparel industry, Smith Barney to winning is its virtual business. All clothing production outsourcing: As of March 31, 2008, the company registered a total of 96 fabric suppliers, materials suppliers 84, 310 garment factories. Product sales, franchising and Direct mash: across the South, North, East and West of the three areas, Smith Barney to create a 2211 store penetration nationwide marketing network. & nbsp; & nbsp; & nbsp; in Nanjing Road, Shanghai's most bustling area, Smith Barney's largest flagship store and the clothing museum bears witness to the company's explosive growth: operating profit of 8.76 million over the past three years, 9093 million and 430 million; the same time as the realization of economies of scale, years of operating margin also increased from 16.35 percent, 27.92 percent to 38.39 percent; the number of shops to 1021,1441 and 2106 respectively, for several years. & nbsp; & nbsp; & nbsp; The plant itself has no production equipment investment in this area, Smith Barney's fixed asset ratio relative to other garment enterprises to be much lower, 15.53% of total assets; liquidity ratio 0.92 far below the industry average of 2.25, compared to similar companies asset-liability ratio at a high level, because in a period of rapid development department, financing mainly short-term loans to banks. & nbsp; & nbsp; & nbsp; in 2008, the history of Smith Barney's turn brilliant one, Zhou Jian will look to the capital markets. Public funds raised will greatly reduce the cost of financing and accelerate the jordans on sale mens expansion and improvement of information systems continue to promote the store. In the case of funds, it is expected to hold an additional 68 outlets Smith Barney reached 339, 588 stores will increase up to 2423. IPO does not take the unusual way & nbsp; & nbsp; & nbsp; "We're just a private enterprise, CEOs actually listed this did not quite understand." company insiders words worth pondering . & nbsp; & nbsp; & nbsp; Smith Barney 7,000 shares to be issued A shares, intends to raise funds 1.8 billion yuan, respectively, for the marketing network construction (1.6 billion) and information system improvements (200,000,000) two projects. The project is expected construction period is 1 year operation period of 10 years. These two projects have passed the examination and approval in 2007, with a total investment of 2.822 billion yuan. Of which 1.8 billion yuan will come from this IPO funds raised, and the rest will make up with its own funds. & nbsp; & nbsp; & nbsp; Marlee frankly Galaxy Securities, Smith Barney is unlikely to raise all the required funds through IPO. To project itself to the count, the issue price should reach 25.7 yuan, the price to Smith Barney in 2007 EPS 0.61 ? to count, earnings will reach 42 times! Recent IPO, analysts generally given only 20-30 times earnings, a high level in terms of the issue of the Smith Barney test. & nbsp; & nbsp; & nbsp; "mainly to see the company's fundamentals, Smith Barney is now the industry's leading position has been very successful similar companies such as seven wolves, although when compared to the highest price ????. cut, price-earnings ratio is still up more than 46 times. But Yantai Spandex like this, we give the evaluation will be very low. "Mary said. & nbsp; & nbsp; & nbsp; why not short of money to be listed & nbsp; If the estimate of 30 times earnings, Smith Barney, the only IPO to raise 1.3 billion of funds. "Smith Barney does not actually need the money, joined the business model does not require a lot of money." A textile and apparel industry veteran Xu Bing (a pseudonym) told reporters. & nbsp; & nbsp; & nbsp; that Smith Barney Why listed? "I can be attributed to two things: the realization of assets and liquidation executive order is tradable assets, before the sale of plant and equipment by enterprises need to cash, after listing on the totally unnecessary, through a minority stake revitalize the entire share capital; Executive Order is simple. behind the local government push hands dictates. "Xu Bing concluded. & nbsp; & nbsp; & nbsp; the controlling shareholder of Smith Barney is Shanghai costumes, with a 90% stake in the company, the actual control of Zhou Jian, another 10% stake in the hands of the Zhou Jian daughter, Hu Jiajia, registered capital After several rounds of capital now stands at 260 million. & nbsp; & nbsp; & nbsp; Marlee think, Smith Barney currently operational risk does not come from the capital chain, but due to the continued expansion of the scale to bring the supply chain tension and management problems. This is precisely the Smith Barney tries to strengthen two aspects of fund-raising, channel construction and information systems improvements. Company data show that joined the business accounted for 87.16% of the total pavement shop for the sales contribution of 62.2 percent. Join the rapidly expanding market share effect is obvious, but the company for the entire channel control capability is weak. Therefore, the company focused on medium-sized cities is to develop outlets in order to reduce the risk of channel-dependent; on the other hand, to achieve effective control and management of the shop also implementation team (AFE) through franchisee operational excellence projects. & nbsp; & nbsp; & nbsp; The company also acknowledged that because of the changing market conditions, if the funds were not in place, the market environment or industry competition and other mutation occurs, all will give investment projects a greater impact on the expected results. Coupled with raw materials costs rose sharply, turnover and other conditions on the downstream industry boom cycle is a potential business risk. & nbsp; & nbsp; & nbsp; on the secondary market is changing, elusive. This year, the Shanghai and Shenzhen stock markets continued to decline in the market so that the issue price of new shares hit record lows, first day of gains in a series of low and fall of the stock market could not escape the break. & nbsp; & nbsp; & nbsp; Smith Barney to accept the severe test of whether the capital markets? Mary Smith Barney had to be full of confidence after:. "Although the market downturn, but it should not affect the performance of the market after Smith Barney, after all, the company's qualification was there" New Balance M990 earlier brought order message for you, the new version of the 99X series of double reference 30 years ago the first double ACE model CM900 engraved, in the last year in the notice of grey, blue two colors, believe that there should be a lot of friends for success has even on foot. Don't miss the order or friend? 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