Zhejiang Resources (600070): Two New Subsidiaries Are Actively Transforming New Industries Of Information Services.

In December 11th, Zhejiang Fu run announced the announcement of two new subsidiary companies.

We plan to invest 100 million yuan to set up Zhejiang Fu run chain Technology Co., Ltd., and invest 50 million yuan to set up Zhejiang Fu run gold science and Technology Co., Ltd. the name of the two companies has been pre approved by the industrial and commercial registration authority.

In recent years, Zhejiang based on the steady development of traditional textile printing and dyeing industry, we actively explore new industries of information services. The subsidiary company Tai Yi refers to the field of financial technology, block chain and other industrial areas based on big data technology, and builds new core competitiveness.

The main business of the company is textile printing and dyeing, steel pipe processing for traditional industries, and fierce competition in the market. With the advantage of technical equipment, cost scale and quality brand, the first half of 2019, the printing and dyeing company was once again listed as the top 30 in China's printing and dyeing industry, and won the first prize of Zhejiang's outstanding industrial new products (New Technology). At present, the company's two industries account for about 50% of their revenues. In the first three quarters of 2019, driven by two industries, the company achieved 2 billion 82 million yuan of business income, an increase of 21.07% over the same period last year, and a net profit of 359 million yuan, an increase of 152.54% over the same period last year.

And the new round of technological revolution and industrial transformation is speeding up. The company says that the textile industry as a whole is a mature industry, and the information service industry is a new industry. It is at an early stage of rapid development.

The reporter understands that Zhejiang Fu run has signed a strategic cooperation agreement with China Unicom in December 10th, and the two sides will carry out comprehensive and in-depth cooperation in the fields of communication services, product delivery and resource sharing. According to the agreement, China Unicom will provide exclusive communications service products and customized product tariffs for Zhejiang's rich. Zhejiang Fu run develops its customers through China's own online, offline channels and third authorized channels. Insiders said that the cooperation between the two sides is expected to enable the company to share the obvious advantages of China Unicom in the communications industry and further enhance the company's revenue.

After signing the agreement, according to today's announcement, two new subsidiaries will be mainly engaged in technology development, technical consultation, data processing technology and information services in second value-added telecom businesses. The company said that the two subsidiaries should be established according to the needs of business development, in line with the company's strategic planning, and to enhance the company's competitiveness.

In addition to the new subsidiary, the company's wholly-owned subsidiary, Tai Yi, has made some achievements in big data. It is understood that Thailand is also one of the main Internet marketing, data analysis and services, and has signed several strategic cooperation agreements with several media companies, communications equipment companies and operators. It signed a strategic cooperation agreement with HUAWEI with a joint venture with the National Information Center, and initially established its own resource network through docking the media resources and user data of the above cooperation units. According to the company's semi annual report, in the first half of 2019, tayi also achieved operating income of 758 million yuan, an increase of 101.60% over the same period last year, and realized a profit of 72 million 215 thousand and 900 yuan, an increase of 16.13% over the same period last year.