Silverman Holdings, based in China, wants to sell its fabric subsidiary and give focus on its film and television business. Rising challenges facing the textile industry in China is one of Silverman’s main reasons in letting go of its fabric business. The company also plans to change its name to Starrise Media Holdings.

Over the recent years, the textile industry in China has faced various challenges, including increasingly fierce competition, rising domestic production costs, and weakening market demand for textiles both within and outside China.

Silverman is engaged in the design, manufacture and sale of high-end home textile and apparel fabrics and fabric products using a wide spectrum of functional, differentiated and new fibers such as cotton, milk fiber, soybean fiber, bamboo fiber, among others. The group has 1,000 sets of advanced weaving machines including more than 250 sets of high speed jacquard looms. The annual fabric production capacity is 80 million meters.

Its principal products are jacquard fabrics and dobby fabrics. It also provides processing services for fabric products to certain customers. Silverman is committed to ensuring continued innovation, improving management, achieving efficiency and enhancing brand image. It will continue to actively seek out new development opportunities and will strive to generate a healthy profit and return for shareholders.