On Oct 18, Shandong Ruyi Technology Group Co., Ltd. announced that Jining Urban Construction Investment Co., Ltd. transferred 26% of the company's equity held by Beijing Ruyi fashion Investment Holding Co., Ltd., the controlling shareholder of the company, with Share transfer price of 3.5 billion yuan. Then Jining urban investment will become the second largest shareholder of the company. At the same time, Jining urban investment will also provide full and irrevocable guarantee for Ruyi technology's "136003.SH".
The comprehensive strategic cooperation between the two sides is to promote the development of China's high-end manufacturing industry and real economy in accordance with overall requirements to promote high-quality economic development, to carry out mixed reform of state-owned and private systems through marketization and legalization, to promote development of International cooperation between the two sides, and to realize mutual benefit and win-win between state-owned enterprises and private enterprises.
A staff of Ruyi technology said that Jining urban investment has become the second largest shareholder of Ruyi technology, which is conducive to the in-depth strategic cooperation between the two sides and will have a positive impact on Ruyi technology's production and operation, financial situation and solvency.
Market analysts believe that in current market environment, Ruyi technology actively participates in mixed reform of state-owned and private enterprises and introduces high-quality state-owned shareholders, which not only recognize the strength of Ruyi technology, but also form a strong endorsement for the future development of Ruyi technology. As the largest fashion industry group in China, it owns international famous brands such as SMCP, Aquascutum, Trinity Group, Renown, etc. it will gain greater market competitiveness in the future.
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