Shandong Ruyi changed its name to Ruyi Group to steadily promote the layout of wool textile industry chain

On the evening of June 11, Shandong Ruyi announced that the company name has been changed to Shandong Ruyi Woolen Garment Group Co., Ltd. since June 12, and the stock abbreviation has been changed to Ruyi Group, and the securities code has not changed. Changing the company name is to match the future development strategy. Shandong Ruyi will continue to steadily promote the layout of the woolen textile industry chain and realize the goal of developing a traditional manufacturing enterprise into a service-oriented high-end brand enterprise.

On the evening of June 11, Shandong Ruyi announced that it was approved by the Shenzhen Stock Exchange. Since June 12, 2017, the company's Chinese securities abbreviation has been changed from “Shandong Ruyi” to “Ruyi Group”. The English short name has been changed from “Shandong Ruyi” to “Shandong Ruyi”. "Ruyi Group", the stock code is unchanged.


Why is Shandong Ruyi renamed?

Qilu Fortune Network Research Center combed Shandong Ruyi Company announcement that the company had completed the non-public offering in August 2016, and used some of the raised funds to acquire Ruyi Technology Apparel Assets, Taian Ruyi Technology Fashion Industry Co., Ltd. and other related apparel assets. The main business extends from a single worsted wool fabric to the design, production and sales of worsted fabrics and garments, completing the layout of the entire industrial chain of the company's woolen garment industry. Based on the requirements of the company's group management and future development strategy, the company's full name was changed from “Shandong Jining Ruyi Wool Textile Co., Ltd.” to “Shandong Ruyi Woolen Garment Group Co., Ltd.”.

Shandong Ruyi's development

Founded in 1972, Shandong Ruyi was formerly known as Shandong Jining Wool Textile Factory. It has been mainly engaged in the production and sales of medium and high-grade worsted woolen fabrics, worsted yarns and related products. It is a leading enterprise in the wool spinning industry and has leading products. Technology and users all over the world. However, the low added value of fabric production has limited the rapid development of Shandong Ruyi.

Since 2015, in order to enhance the added value of the company's products, Shandong Ruyi has begun to integrate the garment industry, steadily promote the layout of the woolen industrial chain, and accelerate the pace of overseas mergers and acquisitions. It is worth mentioning that Shandong Renowned brand and apparel company Japan Renown and France SMCP Group also ranked in the list of the world's top 100 luxury goods companies in 2017, ranking 51 and 58 respectively, with a total of 39.

In August 2016, the company raised RMB 1.8 billion to acquire high-end apparel assets and entered the high-end fashion apparel industry. It formed a coupling between upstream and downstream industries, extended the industrial chain, and steadily promoted the layout of the wool textile industry chain.

Prospects of Shandong Ruyi

Shandong Ruyi has been cultivating the wool textile industry for many years and has mastered the most core “Ruyi spinning” technology, and its research and development strength is ahead of the competition. At the same time of its own technology, the company is also striving to seize opportunities. Since 2013, it has built intelligent manufacturing projects in policy-intensive and low-cost areas such as Ningxia, Xinjiang and Pakistan. Nowadays, with the development of the “Belt and Road” economic belt, Shandong Ruyi will also open a broader market.

The change of company name in Shandong Ruyi is the inevitable result of entering the mid-to-high-end clothing industry. In the future, the company should gradually lean toward the fashion apparel industry in the process of steadily promoting the layout of the woolen industrial chain, and adhere to the brand as the main line, I believe that it will achieve the goal of developing a traditional manufacturing enterprise into a service-oriented high-end brand enterprise. (Qilu Fortune Net is really true)