Going Public may seem an unattainable goal for many enterprises. Yet those that have successfully listed are thriving in the multi-tiered capital market, earning the admiration of countless peers. As such, going public has become an eager aspiration for numerous domestic enterprises.
The Decision of the Third Plenary Session of the 18th Central Committee of the Communist Party of China on Some Major Issues Concerning Comprehensively Deepening Reform states the need to "improve the multi-tiered capital market system, advance the reform of the IPO registration system, promote equity financing through multiple channels, develop and regulate the bond market, and increase the proportion of direct financing." The National Equities Exchange and Quotations (NEEQ), commonly known as the "New Third Board", has long been regarded as a vital component of the multi-tiered capital market. On June 9, 2013, the State Council approved the nationwide expansion of the New Third Board pilot, lifting restrictions on listing only to high-tech parks and industries. Post-expansion, the market capacity is projected to reach 15,000 to 20,000 listed companies. The agreement transfer system was launched in May this year, followed by the market-maker system in August to boost equity market liquidity—another institutional milestone in the capital market.
The expansion of the "New Third Board" is a strategic initiative by the state to drive economic growth model transformation and structural adjustment, offering a glimmer of hope for numerous SMEs on their path to going public. In November 2009, seven ministries including the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the Ministry of Finance jointly issued the Guiding Opinions on Accelerating the Development of Independent Brands in the Apparel and Home Textile Industries, encouraging eligible branded apparel and home textile enterprises to go public, issue bonds, and access direct financing via capital markets; and encouraging mergers and acquisitions centered around independent brands.
Currently, China's home textile industry maintains robust growth. According to the China Home Textile Association and data from the National Bureau of Statistics, the industry's total social output value reached 1.19787 trillion RMB in 2013. The 1,623 above-scale home textile enterprises achieved a combined industrial output value of 186.445 billion RMB, export delivery value of 47.888 billion RMB, main business revenue of 185.013 billion RMB, and total profit of 80.746 billion RMB—with profit growth nearly 20 percentage points higher than industrial output growth.
With the implementation of relevant economic policies, domestic demand will continue to drive the home textile industry. Meanwhile, the global economic recovery presents new development opportunities for China's home textile sector, meaning home textiles will remain a key growth driver for China's textile industry. As living standards rise and urbanization accelerates, expanding consumer groups and consumption upgrades will sustain rapid industry growth, with leading enterprises poised to benefit from both market expansion and share gains.
Previously focused on foreign trade processing, with annual export value of 20 million USD and domestic trade of 25 million RMB. This year, to boost performance and capture market share, the group's leadership adjusted its strategy: expanding domestic trade while stabilizing foreign trade. We recruited domestic sales staff, strengthened marketing at the Shenzhen office, optimized plans, adjusted sales direction, and expanded domestic clients—targeting 15 million RMB in annual sales for the Shenzhen office. We have signed agreements to launch e-commerce platforms, aiming for 5 million RMB in online sales in the first year and 30 million RMB in the second. Within three years, foreign trade, domestic trade, and e-commerce will form a "three-legged" strategic structure, with domestic trade leading long-term.
V. Brand and Quality Development
For over a decade, we have prioritized building our "Aiyimengjia" brand as the core of group influence. At every growth stage, we invested heavily in human, material, and financial resources to carefully craft and nurture the brand as our corporate "image," ensuring it is both elegant and prestigious. We have earned "Anqing Famous Trademark," "Anhui Famous Trademark," and in 2014, we are actively applying for China Well-Known Trademark status with encouraging progress. Our ambition is to make "Aiyimengjia" a global brand in home textiles. If brand building is the glamorous "outer garment" of corporate reputation, quality is the product's "inner core." The group rigorously implements ISO 9001 Quality Management System and ISO 14001 Environmental Management System certifications, integrating quality standards into every production detail, with quality consciousness embedded in every process. Sales staff follow orders full-cycle to ensure no reworks or returns. Quality standards are posted prominently at every stage—from technical sheets, material requisition, cutting, sewing, finishing to packaging—engraved in employees'minds. We strengthen inspectors'responsibilities and quality awareness, increase patrol inspections, implement rewards and penalties, and embed quality control throughout production to achieve excellence.
VI. Focus on Core Business
Beyond home textiles, the group previously engaged in real estate. To focus on core business, we initiated deregistration of "Tongcheng Golden Dream Sources Textile Products Sales Co., Ltd." and "Anhui Golden Dream Sources Textile Group," targeting full completion by September. Next steps include divesting the real estate subsidiary and restructuring Anhui Golden Dream Sources Textile Products Co., Ltd. into a joint-stock company per schedule.
The group has also improved systems to meet listing standards, invested over 200,000 RMB in upgrading production and living environments, and made comprehensive arrangements for employees'Five Insurances and One Fund.
With sails unfurled, a renewed Golden Dream Sources is poised to sail swiftly into the "blue ocean" of capital markets.
Going public is not the end of our journey, but merely a "weapon" to leapfrog development via the New Third Board. Regardless of the scenery at the summit, the enterprise will continue moving forward.