Youngor said that the relevant adjustments of the subsidiary are mainly to use existing resources to promote the professionalization of investment business.
Investment business has become an important channel for apparel brands to make profits. On the evening of September 19th, Youngor Group Co., Ltd. (hereinafter referred to as “Youngorâ€) issued an announcement, and Youngor changed its business scope to Ningbo Yasheng Garden Landscape Co., Ltd., a wholly-owned subsidiary, and changed its name to Ningbo Yuya Investment Co., Ltd. The registered capital increased from 0.26 billion yuan to 1 billion yuan, involving an increase of 974 million yuan. After the name change and capital increase, the business scope of Ningbo Yuya Investment Co., Ltd. was officially changed to asset management, investment management and investment consulting.
Youngor said that the relevant adjustments of the subsidiary are mainly to use existing resources to promote the professionalization of investment business.
Youngor, who is trapped in the decline of the main business, has been trying to expand from the clothing business whose profit margin is gradually compressed, and instead seeks a higher-yielding business segment, and gradually focuses on the development of real estate, finance and other investment businesses, clothing. Instead, it became a sideline business. According to the 2016 semi-annual report data, Youngor's clothing sector revenue was 2.214 billion yuan, down 7.2% year-on-year, net profit was 395 million yuan, down 24.91% year-on-year; investment business realized revenue was 2.373 billion yuan, up 26.39% year-on-year, achieving net profit of 13.9. 100 million yuan.
But cross-border investment does not guarantee a solid performance. In the first half of this year, Youngor’s revenue and net profit both fell sharply. The reason is due to the impact of the investment business and real estate business segment. During the reporting period, Youngor's real estate business segment revenue was 2.903 billion yuan and net profit was 456 million yuan, down 54.24% and 60.97% respectively over the same period of the previous year.
With a sluggish performance, Youngor is looking forward to returning to the main business. At the end of last year, Li Rucheng, Chairman of Youngor Group, issued a declaration of “Recreating a Youngor in five yearsâ€, saying that it will return to the main business of clothing in the next five years, and will invest 10 billion yuan to strengthen fabrics, crafts, brands and sales channels. . Performance is expected to pick up in 2018."
Editor in charge: Wang Zhen
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