Youngor Group Co., Ltd. (hereinafter referred to as “Youngor”) announced on the evening of November 26 that Ms. Li Hanqiong applied to resign from the position of general manager of the company due to work arrangements. After her resignation, she will continue to serve as the company’s vice chairman and relevant positions of the special committee of the board of directors. , nominated by the chairman of the company, Youngor’s board of directors agreed to appoint Mr. Shao Hongfeng as the general manager of the company, with a term starting from the date of review and approval by the board of directors until the expiration of the current board of directors.
According to the announcement, Mr. Shao Hongfeng was born in 1970. He has a master’s degree, a bachelor’s degree in international economics from Shandong University, and a master’s degree in hotel management from the Hong Kong Polytechnic University. He once served as deputy general manager and general manager of Shanghai Nanguang Real Estate Company, general manager of Suzhou Nanguang Furniture Co., Ltd., deputy general manager and general manager of Hangzhou Tower, director of Youngor Real Estate Holdings Co., Ltd., and general manager of Suzhou Youngor Real Estate Co., Ltd., and currently serves as Youngor’s second Director of the 10th Board of Directors and Chairman of Ningbo Wildlife Park.
According to the Youngor announcement, Li Hanqiong is the daughter of Youngor Chairman Li Rucheng. She was born in 1977. She has a bachelor’s degree in business administration from California State University and an EMBA from China Europe Business School. In 2011, Li Hanqiong was appointed as a director of Youngor. Baidu data shows that in February 2020, Li Hanqiong Ranked 64th on Forbes China’s “Ranking of the Most Outstanding Business Women”; on February 22, 2021, Li Hanqiong ranked 60th on the “List of Outstanding Business Women in China 2021”; in November 2021, she was selected into the list of Fortune Chinese “Future List of China’s Most Influential Business Women”.
In addition, it was also noted on Youngor’s official website that at the Youngor Group’s third quarter 2021 economic work conference held on the morning of October 30, Ms. Li Hanqiong spoke on behalf of the Shanghai Fashion Center: “The road to building the fashion sector of Youngor Group has begun. After After 42 years of hard work in the industry, Youngor has laid a solid foundation in the fields of brand, supply chain, retail terminals, etc., and also completed capital accumulation. In the next step, it will adhere to fashion brand operation as the center, adhere to the theme of fashion industry, and adhere to the long-term Create Youngor Fashion Group with a communist attitude.
The team will learn from the successful experience of the world’s first-class fashion groups. While realizing brand mergers and acquisitions in various fields related to fashion, the team will continue to improve its own operations through multi-dimensional efforts such as learning from excellent operating teams, recruiting and cultivating professional talents, etc. management capabilities. Through constant thinking and layout, Youngor’s “fashion personality” is created.
Shanghai Fashion Center will be stationed before the end of the year, which also indicates that a new journey is about to begin.
The Youngor International Fashion Center is located in Building T8, Hongqiaohui, No. 2, Lane 490, Shenhong Road, Minhang District, Shanghai. The total investment is expected to be about 3 billion yuan. Youngor has previously revealed that the Hongqiao T8 project is to establish Youngor Fashion (Shanghai) Technology Co., Ltd. The company’s platform further strengthens the operation of the fashion apparel industry. The total planned construction area of the senior care project is 180,000 square meters. It is planned to build Ningbo’s first high-end senior care and health community, featuring health promotion and the purpose of enriching life, covering the health care community of 50+, with health care apartments and elderly apartments. As well as products throughout the life cycle of nursing homes, we realize Youngor’s mission of “making everyone better”.
The financial report shows that at the beginning of 2021, Youngor invested 2.8 billion yuan to establish Youngor Fashion (Shanghai) Technology Co., Ltd. to enter the field of fashion technology, and reached a cooperation with the Norwegian national treasure outdoor brand Helly Hansen (HH). Currently, HH has opened stores in SKP and Oriental Shopping Mall in Beijing. This layout further upgrades Youngor’s brand matrix.
In addition, Youngor has currently formed a diversified brand development strategy represented by YOUNGOR, Hart Schaffner Marx, MAYOR, and HANP, and has built multiple varieties, multiple grades, and series across mid-to-high-end, high-end customization, and hemp categories. product structure system. Since the beginning of this year, Youngor’s brand adjustment has been steadily advancing, with the main brand Youngor and sub-brands Hanp and MAYOR maintaining steady growth; Hart Schaffner Marx is in the stage of brand positioning and product series adjustment and is expected to launch a new brand image in 2022. At the same time, Youngor is and is exploring the launch of women’s clothing products to provide customers with a more complete full-category experience.
Up to now, Youngor has established more than 2,100 self-operated stores across the country. Men’s shirts have ranked first in comprehensive market share for 24 consecutive years, and men’s suits have ranked first in comprehensive market share for 21 consecutive years.
The latest quarterly report card also shows that in the first three quarters of 2021, Youngor achieved total operating income of 10.04 billion, a year-on-year increase of 11.7%; net profit attributable to the parent company was 3.78 billion, a year-on-year decrease of 32.3%.
As of press time this evening, Youngor closed at 6.60 yuan per share, an increase of 0.30%, with a market value of 30.551 billion yuan.
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