Po Kong Shares Fell Slightly 1.97% To HK $5.98

Baozi announced that it was about to sell all the fashion and apparel business news: the company sold 20% rights and interests for 600 million yuan RMB, and the selling party was Shenzhen Oriental Fuhai Cci Capital Ltd. The sale behavior will bring more than 480 million yuan profit, and it is possible to continue to sell the remaining 80% interest in the next 90 days.

However, who will take the remaining 80%? If the brand changes, then what will be the future of baozi?

In June 4th, Baozi Hong Kong shares fell 1.97% to HK $5.98.

It seems to be another case of China's grand tyrant to take over the world's big names, but in fact it is not the case: in 1961, Ports was born in the Canadian port city of Toronto.

In the 80s of last century, Baozi was bought by Chen Hanjie and Kenneth Chan brothers of Hongkong, and then entered the Chinese market.

In the early 1990s, Chen brothers successfully sold Ports to China as a brand of women's clothing, which is comparable to Gucci and Burberry.

Baozi was successfully listed in Hongkong in 2003. It was once regarded as the leader of high-end women's clothing. Its share price rose 12 times after the listing, and its share price soared to HK $31.5 in 2008.

Since then, the stock market has declined in recent years, and its share price has dropped to the lowest level last year, HK $2.34, which is only one step away from the stock market.

Last year's bleak achievements made Chen brothers speed up the pace of pformation: due to China

The market was weak, and the total sales volume in 2014 decreased by 12.1% to 1 billion 879 million yuan compared with the same period in 2013.

Gross margins remained at 80.8%.

Profits plunged 75% to 73 million 200 thousand yuan, and 42 stores were closed throughout the year.

Hongkong, the United States and Canada operate 310 retail stores.

The withdrawal of the main garment industry should be in the Chen brothers plan: on May 29th, at the annual meeting of baozi annual general meeting, shareholders passed several resolutions, namely, re election of Kenneth Chan, He Kun as executive director of the company and the renewal of KPMG as the auditor of the company.

Another notable special motion is to change the name of the company. In addition to the change in the English name, we also adopt the "Bao Guo International Holdings Limited" as a new Chinese name to replace the existing Chinese name "Ports Design Ltd".

According to the information obtained from the HKEx, the change of name motion was finally approved by 100%, and the vote was zero.

Shi Hongmei, an analyst with Orient Securities, said: "the reason for the rapid rise of baozi's early stage is to stick to the positioning of high-end brands, constantly strengthen the management capabilities of retail terminals, and integrate the localization of Chinese resources.

The main reasons for the gradual decline in recent years are the intensification of industry competition, the aging of brands, the unbreakable store of stores, the decline of business quality, and the impact of corporate governance on brand reputation.

In May 31st,

A framework agreement was signed with Orient Fuhai. Eastern Fuhai will take over 20% of Ports Asia Holdings (Hong Kong) Limited Limited (hereinafter referred to as "Ports HK").

Ports HK is basically holding the existing fashion and apparel business of all the groups.

The reporter telephoned the East Fuhai Shenzhen headquarters, and the staff said they were not aware of the incident.

The name of Orient Fuhai is no stranger to the domestic capital market. This PE's feat was: in December 2014, the joint venture of Dalian huinon investment center of Dalian huinen Investment Holding Group Co invested 1 billion 780 million yuan to successfully resolve the debt crisis of Sinovel wind.