Shandong Ruyi Take Over The Hongkong Men'S Wear Group, CEO, Only 46 Years Old.

May 17, 2018: on Thursday, the shareholders' meeting voted. The Hongkong high-end men's clothing group Trinity Ltd. 0891.HK (hereinafter referred to as Li Bang men's wear) core management position was officially taken over by Shandong Ruyi group.

On Thursday, Hongkong group announced that Feng Guojing, the group's non-executive director, will resign as chairman of the board, replaced by Chiu Yat Fu, a non-executive director. Feng Guojing will no longer be a member of the Remuneration Committee, while Qiu Yafu will also enter the Remuneration Committee.

Another important CEO position is also replaced by Sun Weiying from Shandong Ruyi group, Jeremy Paul Egerton Hobbins, which is no longer a group non-executive director.

At the same time as CEO, Sun Weiying was pferred from non-executive director to executive director.

In November 2017, Li Bang menswear introduced the external investor Shandong Ruyi with the issuance of rights issue. The latter gained 1 billion 846 million shares of Li Bang men's suit at HK $1.2 per share, and the price was HK $2 billion 200 million.

In April 18, 2018, the above paction was officially completed. Shandong Ruyi group will hold 51.38% of its stake in the men's clothing.

On the same day, Feng family Feng Yongyi, Feng Guoguan and Feng Yuming resigned as non-executive directors. The three were von Kwok's daughter, brother and son, while Qiu Yafu from Shandong, Sun Weiying, Daniel Lalonde, and Bei Jin min joined them. They were directors of Shandong Ruyi group, Shandong Ruyi Group Holding Companies, Shandong Ruyi international fashion industry Klc Holdings Ltd CEO, Shandong Ruyi Group Holding Companies CEO SMCP SAS SAS (SMCP.PA) CEO, Shandong Ruyi Group Holding Companies Japanese garment giant Renown Inc. (3606.T) president.

In addition, Qiu Yau's 37 year old daughter, Qiu Chenran, was appointed Executive Director of Li Bang men's wear in April 18th.

Ruyi Group Chairman Qiu Yafu (middle and male)

The new management is obviously younger than Feng Guo Jing and Jeremy Paul Egerton Hobbins. Sun Weiying, who is only 46 years old, is the same age as Feng Yujun, chief executive of Li & Fung Ltd. (0494.HK), a Feng family company, who is 44 years old, and took over the family's most important business in 2014.

Apart from Sun Weiying, Su Xiao from Shandong Ruyi group was appointed as executive director by Li Bang Menswear, responsible for group finance and merger related matters. Su Xiao, 42, is the director of two companies of Limited by Share Ltd (002193.SZ), Shandong Ruyi woolen clothing group, listed under SMCP SAS and A shares of Ruyi group, and she is the Srinivasan PARTHASARATHY who resigned from the group's chief financial officer.

At the end of last year, he joined the Ruyi group, and became the chief strategy officer of Ruyi Technology Group Co., Ltd. and President of China Ruyi international fashion Finance Holdings Limited, He Zhuoxian. He was appointed chief strategist of Li Bang menswear on Thursday. He is fully responsible for the development strategy and investment and acquisition of Shandong.

He Zhuoxian came from the investment industry. He served with Morgan and J.P. chase. He joined the Li Bang menswear in April 18th and served as executive director.

According to the data, the annual loss in 2017 increased by 37.8%, from HK $441 million 500 thousand to HK $608 million 300 thousand.

In the year when luxury rebounded vigorously, LB men's wear, which dominated high-end men's wear, lagged behind the industry. Its annual income was HK $1 billion 701 million 300 thousand, down 4.3% from HK $1 billion 777 million in 2016.

Fixed exchange rate, retail revenue fell 0.3%, of which 1.4% rebounded in the second half.

In the annual report at the end of March, Feng Guojing, then chairman of the group, said that the paction with Shandong Ruyi group was a major opportunity for Li Bang menswear.

Victor Fung

He praised Ruyi group's strength in the garment industry, with many strength brands such as Sandro, Maje, Claudie Pierlot and Aquascutum, and the Renown company Incorporated, a Japanese company holding shares, is the annual authorized "Li Bang" men's wear sales D 'URBAN brand.

With the help of the resources and strength, we can help Li bang.

Expand to different categories and regions.

He also said that Feng's retail group and Feng family are still the main shareholders of Li Bang's men's wear.

Shandong Ruyi group is the global fashion in the past two years.

The main mergers and acquisitions, under continuous external pactions, is already owned by several listed companies, with dozens of brands and revenue ranking.

Top 20 large enterprises.