On the evening of May 10th, the company announced that it signed the "Framework Agreement for the Comprehensive Strategic Cooperation between the People's Government of Shengze Town and the Yute Group Co., Ltd. in Wujiang District, Suzhou City" with the People's Government of Shengze Town, Wujiang District, Suzhou City. In the future, the two sides will play their respective advantages and carry out comprehensive strategic cooperation in the R&D and design of the textile and garment industry, brand promotion, supply chain finance, trade market operation management, warehousing and logistics base construction, establishment of industrial investment funds, and utilization of capital markets. Zezhen textile industry develops and progresses to a higher level, and promotes the company's realization of the strategic goal of China's leading integrated lifestyle service provider.
The two parties agreed that the Eastern Textile City, which is the cooperative operation and management of Party A, will be the beginning of comprehensive strategic cooperation.
According to reports, Shengze Town is a famous economic center in China. In 2017, its GDP reached 42 billion yuan, ranking among the top ten in China's Qianqiang Town. The textile industry is the pillar industry of Shengze Town. The town has more than 2,500 textile enterprises and nearly 10,000 textile traders. The whole town has formed a process from silk reeling, chemical fiber spinning, weaving, printing and dyeing, fabric deep processing to clothing. The industrial chain of textile finished products; at the same time, it has also formed an industrial service supporting system integrating R&D, production, market, logistics and service, and has become an important textile research and development, production and trade base in China.
Notice that the company's strategic development goal is to become a comprehensive lifestyle industry with leading-edge service provider in China, and the country needs important textile and garment industry cluster in-depth cooperation, complementarity, mutual benefit and common development. As the beginning of comprehensive strategic cooperation, Dongfang Textile City has become an important textile trading center, price formation center and information release center in China, relying on the advantages of local fabrics. It has a rapid development of textile and garment industry supply chain management business in the country. Strong complementarity, both sides can use their respective resource advantages to grow and develop.
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