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| Brief introduction
to Anhui Provincial Hui Merchant Group Co., Ltd. |
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In June 2000, former Anhui Provincial Material
Group Joint-stock Co., Ltd was reformed into Anhui
Provincial Hui Merchant Group Co., Ltd. through
approval of Anhui Provincial People¡¯s Government
and in accordance with modern enterprise system
requirements. In July 2002, 12 commercial enterprises
directly under former commercial department incorporated
with the Hui merchant group, forming the largest
¡°aircraft carrier¡± in circulation industry in Anhui.
The company¡¯s registered capital is 140 million
yuan. The total assets reaches 2.7 billion yuan.
The net assets reaches 310 million yuan. The scope
of the business includes steel products, non-ferrous
metals, automobile, coal, fuel oil and finished
oil, fertilizer, light industry material, home appliance,
electromechanical products, commodities and garment,
common salt and industry salt, ¡°reassurance meat¡±
series green food products, futures, auction, dismantlement
and recycle of scrapped automobiles, dismantlement
of old boats, old automobile trade and etc.
Since 1999, the company has quickly improved its
operating ability and management level through the
strong reform. It fulfilled sales of 8.69 billion
yuan in 2002. Among it, import-export amount is
110 million USD. The submitted revenue is 74.27
million yuan. The sales volume occupies the 186th
place among Top 500 in China.
General thoughts on the company¡¯s next 3 year reform
and development: Through the three year endeavor
from now on to the year 2005, strive hard to make
the group company a joint-stock system company with
multiple investing principal bodies. State-owned
capital of most enterprises directly under the group
doesn¡¯t occupy a holding place and part of them
have basically become nongovernmental business-like
company. Strive hard to make the above enterprises
a capital operation company with distribution industry
as the basic one and a ¡°Hui Merchant¡± brand company
known all over China and a company which has the
largest sales volume and the highest average net
return on assets of the three years among enterprises
belonging to Anhui province and a stable increase
in employee¡¯s annual income. The company¡¯s total
assets will reach 5 billion Yuan; the net assets
will reach 0.5 billion Yuan; the sales will exceed
15 billion Yuan. Among it, import-export amount
is 0.18 billion US$; strive hard to break 0.2 billion
US$, make the proportion of import-export amount
among the total sales rise from 14% to 30%; the
profit will exceed 0.1 billion Yuan; the submitted
tax will exceed 0.1 billion Yuan; at the same time,
strive hard for one company to come into the stock
market.
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