Recently, Jinkaola International Textile City will be auctioned and liquidated through an online auction platform because its owner, Chongqing Gaorong Company, cannot pay off its due debts. Jinkaola, once a well-known thermal underwear brand in the country, stopped production at the Hechuan factory, and Jinkaola Textile City in Jiangjin was not spared and suffered bankruptcy liquidation.
From July 15 to July 16, 2021, the manager of Chongqing Gaorong Real Estate Co., Ltd. (Chongqing Gaorong Company) will conduct an auction on Chongqing Municipal Government on the Taobao judicial auction network platform. Four items including the industrial plant and land use rights at No. 21 Zhongxing Avenue, Luohuang Town, Jiangjin District were auctioned separately, with a total starting price of 214,117,676 million. The supervision unit is the Chongqing Fifth Intermediate People’s Court.
The reporter learned that the assets auctioned were assets of Jinkaola International Textile City. This time, the owner, Chongqing Gaorong Company, was unable to pay off its due debts, and the creditors applied for bankruptcy liquidation. Hence this judicial auction. Jinkoala is a well-known trademark in China, and it still has flagship stores in JD.com and other malls.
The auctioned factory building area is about 66,000 square meters
The reporter learned that the auction was divided into zero points The four bids are all located at No. 21 Zhongxing Avenue (Jinkola International Textile City), Luohuang Town, Jiangjin District, Chongqing, with a total starting price of 214,117,676 yuan.
Among them, the industrial factory with a total area of 29,303.68 square meters has an estimated price and a starting price of 91.3023 million yuan, a deposit of 18.26046 million yuan, and the construction area is equivalent to 31.16 million yuan per square meter.
Another industrial factory with a total construction area of 36,827.75 square meters, the evaluation price and starting price are 110,483,250 yuan, the deposit is 22,096,650 yuan, and the construction area is equivalent to 3,000 yuan per square meter Yuan.
This auction also includes two land use rights, one with a land area of 7819 square meters, approximately 11.73 acres, an industrial transfer land, and the land expiration date is March 2063 On the 31st, the appraisal price and starting price were 2.916487 yuan, equivalent to 373 yuan per square meter.
Another piece of land has a total area of 25,243 square meters, or approximately 55.24 acres. It is an industrial transfer land. The land expiration date is April 1, 2064. The appraisal price and starting price are 941.5639. Ten thousand yuan, equivalent to 373 yuan per square meter.
Citizens, legal persons and other organizations with full capacity for civil conduct can participate in the bidding. The auction announcement reminds that the above-mentioned subject matter belongs to the Management Committee of Luohuang Industrial Park, Jiangjin District, Chongqing City Within the scope of jurisdiction, bidders must have specific industrial projects, and the projects should be in the smart home consumer goods industry category; and the projects must meet local production safety and environmental protection access requirements, and be submitted for approval in accordance with relevant local procedures.
It was ruled to accept bankruptcy liquidation in November last year
TianyanchadatashowsthatChongqingGaorongCompanywasestablishedonApril28,2011,withitsregisteredaddressat1-1-10YangLilianBuilding,Group26,ChangheVillage,LuohuangTown,JiangjinDistrict,ChongqingCityNo.1,itsbusinessscopeincludesrealestatedevelopment;salesofbuildingmaterials,decorativematerials,chemicalproductsandrawmaterials,hardware,anddepartmentstores;leasingofconstructionmachineryandequipment,etc.ThelegalrepresentativeofthecompanyisYangJianming,whowasonceknownasthe”firstpersoninkapokunderwear”.Theregisteredcapitalis40millionyuan.TheshareholdersareChongqingGaorongInvestmentCo.,Ltd.(actualcontrollerisYangJianming)accountingfor55%andGanGuoqingaccountingfor45%.ChongqingGaorongCompanyisthepersonsubjecttoexecutionforbreachoftrustbythecourt.
ThereporterlearnedthattheauctionwasconductedbyHailiHoldingGroupCo.,Ltd.(HailiCompany)becausetherespondent,ChongqingGaorongCompany,wasunabletopayoffitsduedebtsanditsassetswereinsufficienttopayoffthedebts.Onthegroundsoftotaldebtorobviouslackofsolvency,theapplicationforbankruptcyliquidationofGaorongCompanywasacceptedbythecivilrulingissuedbytheChongqingNo.5IntermediatePeople’s Court in November 2020.
The civil ruling shows that due to a project contract dispute, the court ruled that Gaorong Company should pay Haili Company 53763672.9 yuan for the project, advance 4235100 yuan in extra-contract settlement fees, and 200 performance bonds. Ten thousand yuan, a loss of 2 million yuan and corresponding interest due to work stoppage, and Gaorong Company enjoys a priority of 53763672.9 yuan for the discount or auction price of the first phase standard factory building (group A) of Jinkaola (International) Textile and Garment Industry City Right to compensation. After the judgment came into effect, Haili Company applied to the court for enforcement. On July 28, 2019, the court seized the property of Gaorong Company located at No. 21 Zhongxing Avenue, Luohuang Town, Jiangjin District. However, the property was waiting for seizure and could not be disposed of yet, and Gaorong Company had no other properties for execution.
In addition, Gaorong Real Estate was involved in more than 20 enforcement cases, involving a total amount of 187 million yuan, and basically had no property for enforcement.
The Jinkaola Textile City once planned 3 square kilometers
Public According to the data, the full name of Jinkaola International Textile City is Jinkaola (International) Textile and Garment Industry City Project. It is located in Jiangjin Luohuang, the core area of industrial development in the half-hour economic circle of the main city of Chongqing. It is a key development project of Chongqing approved by the Ministry of Land and Resources. One of the three major regions is a 100-billion-level industrial park.
Project�The investment and construction of a number of investment consortiums led by China’s well-known trademark Jinkaola is a key construction project for the “integration” of Chongqing’s textile and garment industry chain, and a key recommended project by the China Textile Industry Federation and the China Knitting Industry Association.
The overall long-term planning of the project is about 3 square kilometers, with a total investment of about 6 billion yuan, and a total output value of about 8.5 billion yuan after completion. It plans to include a fabric processing area, a brand backbone enterprise area, and small and medium-sized enterprises. It is a flagship park for the entire textile and clothing industry chain including an enterprise area, a micro-enterprise area, a living service area, a scientific research and creative center, an expo display center, an education and training center, a warehousing and logistics center, and an information trading center. The first phase covers an area of more than 1,000 acres, with a total construction area of approximately 900,000 square meters.
However, the ideal is very full, but the reality is skinny. As Chongqing Gaorong Company is in trouble, the development of Jinkaola International Textile City is not going smoothly. Industry insiders pointed out that with this bankruptcy liquidation, the project is expected to be reborn.
Extended reading
Jin Kaola was a former employee of the thermal underwear industry Top Three
According to public reports, Yang Jianming is the founder and chairman of Jinkaola and is fully responsible for the strategic planning and operational management of Jinkaola. He started his own business at the age of 25. He went to Chengdu to set up a trading company specializing in health care products and medical equipment agents, and earned his precious first pot of gold in life.
In 2000, when Jin Kaola was founded, Yang Jianming closed the company in Chengdu and went to Shanghai alone to establish the “Jin Kaola” brand and began to transform into the field of thermal underwear. Later, a Chongqing company was established, focusing on Chongqing.
Yang Jianming belongs to the post-70s generation. He was born in Guang’an, Sichuan, and grew up in the main urban area of Chongqing. He has a typical eastern Sichuan character, bold and hard-working. At a dinner party, Yang Jianming once revealed that he wanted to thank Chengdu for allowing him to accumulate nearly 50 million in funds in just a few years, which enabled him to develop the clothing and underwear industry.
Chongqing Jinkaola once ranked among the top three in the thermal underwear industry and was known as the “King of Southwest Underwear”. In 2010, Golden Koala was rated as a “China Famous Trademark”, which was also the first “China Famous Trademark” in Chongqing’s textile and clothing industry. In 2011, a garment industry chain integrating printing and dyeing, textile, processing and sales was fully formed.
The development of Jinkoala was once at its peak, but its glory is no longer the same. Some insiders pointed out that this was related to the rapid expansion of Jinkaola, huge investment in building an industrial park economy and improper operation. In addition, the clothing industry was weak at the time and inventory was high. The capital chain of Jinkaola’s industrial system was tense and eventually broke. In June 2016, Jinkaola’s Hechuan factory ceased production.
Tianyancha data shows that Chongqing Jinkaola Clothing Co., Ltd. was established on April 29, 2004. Its legal representative is Yang Jianming, and its registered place is B, Jiangcheng Industrial Park, Hechuan District, Chongqing. District -20, with a registered capital of 50 million yuan, the shareholders are Liu Xiaorong accounting for 89.52% and Yang Jianming accounting for 10.48%. Chongqing Jinkaola Clothing Co., Ltd. is the person subject to execution for breach of trust by the court.
On Jinkaola’s official Weibo, the latest update was on June 10, 2015, “Jinkola Group grandly held the 2015 autumn and winter new product launch conference.”
However, there are still Jinkoala flagship stores in JD.com and other stores, selling a variety of intimate apparel, indicating that it still has a certain influence. </p
