AOKANG Shoe Test Water Financial Credit

Affected by the economic environment, the textile and garment industry and the footwear industry have been shrinking the front line. China's largest private shoe enterprise AOKANG group (hereinafter referred to as AOKANG) has joined 9 other enterprises in Wenzhou to set up a Ruifeng small loan Limited by Share Ltd (hereinafter referred to as Ruifeng) for SME loans.

In fact, AOKANG's entry into financial credit business and its shoe Empire expansion still can not be separated.

AOKANG, which is trapped in the dilemma of chain terminals, is changing its image of "emphasizing the South and the north", and seeking its brand to enter the middle and high-end shopping malls in Beijing.

Direction of village banks?

In October 18th, AOKANG Ruifeng small loan Limited by Share Ltd, which was sponsored by AOKANG as the main sponsor, was officially unveiled in Wenzhou.

Ruifeng registered capital of 100 million yuan, bank financing 50 million yuan, the total capital of 150 million yuan.

The loan target is mainly small and medium-sized enterprises in Wenzhou.

On the day of the unveiling, Ruifeng granted 3 enterprises 25 million yuan.

The 10 shareholders of the company are local private enterprises in Wenzhou. As the main sponsor, AOKANG group has a 20% stake in the largest shareholder, and the remaining 9 shareholders have a single shareholding less than AOKANG.

The establishment of Ruifeng has torn the country's access to financial business access to private enterprises, and is expected to become the first batch of private banks in the future.

It is learnt that the annual loan interest rate of Ruifeng is 1.2 to 2.5 times that of commercial banks, and the median value is 1.8 times. The figure of 150 million yuan can be net profit of around 15 million yuan a year. If the capital is increased after half a year, the profit will be even higher.

This is the second time that AOKANG has set foot in the financial industry. As a private enterprise, it has been involved in bank credit business for a long time, and AOKANG has been waiting for more than 4 years.

In June 2004, AOKANG group, as the main sponsor, joined the 8 companies of Shenli group, France Group, Guoguang real estate and Tali industries, and founded the first private consortium in Wenzhou.

In the 7 month, the Swiss financial group wanted to bid for the "Jianhua private bank", but it was not approved by the government. Currently, the Sino Swiss consortium business is mainly engaged in real estate development.

However, at present, there is a policy restriction on small loan companies, which can only be loans and can not be deposited.

Wang Zhentao is not worried about this. He said: "after the small loan business is done, the state will further relax its policy and allow deposits in the near future.

Therefore, village banks will be a direction for the future development of Ruifeng.

A AOKANG Propaganda Department official said: "the development of village banks is not the purpose of Wang. The state banks are required to hold state ownership, and there are many policy restrictions.

Wang hoped that with this platform, he could enter entrustment bills and entrust loan business.

Financing expansion and rescue, AOKANG is stepping into the financial industry when it is worried and difficult in the shoe industry, rather than sticking to the shoe industry.

Wang Zhentao has his own consideration.

"Enterprises like us are just beginning to make products, and then develop brands, grow bigger and stronger, and also need to intervene in the financial sector."

Wang Zhentao stressed, "to do this (small loan), when the shoe industry enters the" cold winter ", through legal means, we can add a winter cotton padded garment.

And through the future entrusted loan business, AOKANG can indirectly borrow from banks through Ruifeng. "

Financing is always pursued by fast developing entities.

It has been reported that with the help of the Olympic Games, AOKANG will be listed on the AOKANG 20th anniversary in August 8th this year, but failed to make it.

AOKANG said, "the company originally planned to go public, mainly because the internal management has not yet met the requirements, and finally shelved, possibly at the end of next year or the first half of next year."

At present, AOKANG's main competitor is BELLE, BELLE's continuous acquisition after listing and Jiangsu Sanger's direct impact on AOKANG. The first brand of domestic men's shoes may fall on BELLE.

Compared with BELLE, AOKANG is at a disadvantage now.

Because it is not listed, financing is more difficult than BELLE, and the expansion of retail terminals is limited.

In the first ten days of September, GEOX, the second largest casual shoe manufacturer in the world, abandoned AOKANG to BELLE and was also an impact on AOKANG.

Losing the right of sole agent in China, AOKANG is also aware of its lack of chain terminal construction and is working hard to catch up with BELLE.

This reporter learned that in October 20th, "national brand and China's Department Store Industry Summit Forum" was held in Wenzhou. AOKANG took the opportunity to contact with people in charge of shopping malls, such as Wangfujing, Xidan, and contemporary shopping mall in Beijing, to set up counters in the above shopping malls.

Kim Pei, AOKANG's propaganda department, said AOKANG has reached cooperation with the three or four companies.