China Textile Holdings Co., Ltd. (hereinafter referred to as "China Textile") was listed on the main board of Hong Kong Stock Exchange (Code: 3778) in December 2011, with a total number of 1.01 billion shares, a market value of HK $800 million a raised capital of HK $150 million. The main body of China Textile Group is Jiangxi Jinyuan Textile Co., Ltd. (hereinafter referred to as "Jinyuan"), which is the leading textile yarn manufacturer in Jiangxi Province. In September 2014, Jinyuan acquired Jiangxi Huachun Textile Technology Development Co., Ltd. (hereinafter referred to as "Huachun") with RMB 200 million. In November of the same year, China Textile issued an additional 126 million shares in Hong Kong raised HK $100 million as a part of the merger acquisition funds. Huachun is a large textile yarn manufacturer in Jiangxi province. The merger acquisition was completed in January 2015. Through the merger acquisition of Huachun, the capacity of China textile group increased about 390000 spindles to about 690000 spindles, the yarn production increased 60000 tons to more than 110000 tons, further consolidating its position as the leading textile yarn producer in Jiangxi Province, realizing product diversification. In December 2014, jinyuangeng established a subsidiary company with 51% shares in Fengxin County, Jiangxi Province, Jiangxi Xinyuan Special Fiber Co., Ltd. (hereinafter referred to as "Xinyuan"), Xinyuan will be engaged in textile fiber production, which can provide raw materials for Jinyuan Huachun, thereby reducing production costs, Xinyuan sign group was established to start vertical integration strategy for upstream business.
Jinyuan is a polyester yarn, polyester cotton blended yarn, viscose yarn pure cotton yarn producer a leading enterprise in Jiangxi textile industry. According to the Research Report of "2015 top 100 private enterprises in Jiangxi" sponsored by the Information Office of Jiangxi Provincial People's government Jiangxi Federation of industry commerce, Jinyuan's income comes Jiangxi's textile industry ranking the third, ranking the 100th in total. Jinyuan's spindle production capacity is about 390000 spindles. Huachun is a large producer of polyester yarn, polyester cotton blended yarn, hemp grey polyester yarn pure cotton yarn in Jiangxi Province. Huachun's spindle production capacity is about 300000 spindles. The total production capacity of the group is about 690000 spindles, which is a large yarn manufacturer in Jiangxi Province. We provide various pure yarn blended yarn products in China. We mainly produce fine medium yarn to meet our customers' specifications. We supply about 70 combinations of blended yarn products, including advanced products such as combed cotton fiber ring spinning, to provide yarn with more performance. Our capacity can be allocated time to time according to our production plan to produce most yarn products.
Our strategic layout in Fengtian Economic Development Zone, Fengxin County, Yichun City, Jiangxi Province, enables us to enjoy a stable supply of low-cost labor, power water resources, which is crucial to our production process. We also benefit mature infrastructure convenient road, rail waterway transportation, which reduces our logistics transportation costs, enables us to deliver goods to customers at competitive prices in a timely manner. Equipment, machinery production facilities
We use advanced equipment machines to produce our products. We import automatic winder which is very important to our production process Italian textile machine manufacturer. At the end of 2015, the original cost of all production equipment was about 653 million yuan, of which about 199.6 million yuan 30.6% was used for machines equipment imported Italy. Our production facilities operate 24 hours a day, three shifts, 353 days in 2015. Over the past 10 years, our production facilities have operated at an average utilization rate of more than 90%. We will continue to further expand our product range, improve product quality increase production efficiency, all of which will help us improve our overall profitability.
We are led by an experienced management team with a wide range of industry knowledge that is critical to our development. Our management team has won the recognition recognition of the textile industry. The unremitting efforts of our senior management team are of great benefit to the stability of senior management. Most of our senior managers have a strong track record in the textile industry, which enables us to build production facilities improve production capacity in a short period of time become a leading enterprise in the textile industry of Jiangxi Province.