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Jiaxin Silk: a complete industrial chain of silk leading enterprises
Zhejiang Jiaxin Silk Co., Ltd. (stock code: 002404), a leading player in the silk industry, is set to list on the Shenzhen Stock Exchange. Industry insiders believe that with the successful implementation of its fundraising projects post-listing, the company will leverage its scale advantage to bridge production gaps, accelerate technological innovation, and enhance its international presence.
Founded in 1999, Jiaxin Silk has evolved into a comprehensive enterprise integrating R&D, production, and sales. With a strong focus on brand development and product diversification, it has become one of the top three companies in terms of main business revenue and fifth in competitiveness within the domestic silk sector. In 2009, clothing-related products accounted for 60.20% of its revenue, followed by hardware at 17.92%, silk products at 2.96%, and silk fabrics at 8.11%. Approximately 75% of its products are exported, primarily to the U.S. and Europe, targeting well-known international brands.
The company operates on a self-manufacturing and outsourcing model, with about 60% of production done internally and 40% outsourced. High-end clothing and knitted fabrics are mainly produced in-house. Over decades, Jiaxin Silk has built a complete industrial chain, from cocoon processing to finished silk garments. It has also established a large-scale industrial park covering 400 hectares, housing all related operations such as reeling, weaving, printing, dyeing, and garment making. This integrated setup enhances efficiency, reduces costs, and strengthens its competitive edge.
One of the key advantages of Jiaxin Silk lies in its vertically integrated industrial chain. Unlike traditional import-export businesses, it possesses strong R&D capabilities, large-scale production, and efficient management. This allows it to quickly respond to market demands and maintain high-quality standards. Additionally, the company has long-term partnerships with major global clients, ensuring stable demand and a strong market position.
In response to market uncertainties, especially after the global financial crisis, Jiaxin Silk has optimized its production cycle and improved coordination across the supply chain. Its comprehensive industrial structure helps mitigate risks associated with market fluctuations, allowing it to remain resilient even in challenging economic conditions.
To further strengthen its position, the company has launched several fundraising projects aimed at expanding its production capacity and improving its product range. These include natural fiber knitted fabrics, seamless silk underwear, embroidered silk items, high-end woven garments, and advanced knitting clothing. The total investment for these projects is 341.22 million yuan, with expected annual revenues of 78.97 million yuan and net profits of 70.88 million yuan. These initiatives are expected to significantly boost the company’s profitability, optimize its capital structure, and reduce financial risk.
With the expansion of its production capabilities and enhanced R&D efforts, Jiaxin Silk is well-positioned to strengthen its global footprint and continue its growth trajectory in the international silk market.