Zheng Yutong's 1 Billion 50 Million Hong Kong Dollar Entered Giordano &Nbsp, Becoming The Largest Single Shareholder.

Yesterday (May 12th), Giordano announced the confirmation of Hongkong wealthy businessman Zheng Yutong acquiring company. stock right Zheng Yutong also became the largest single shareholder of Giordano.

　　 Giordano Net profit increased last year.

According to the announcement, Zheng Yutong bought a total of 218 million shares of Giordano in the OTC deal through its fully controlled Zhou Dafu company, which is equivalent to 14.58% of the issued share capital of the stock, with an average transaction price of HK $4.81 per share, which involved HK $1 billion 50 million. This is Zheng Yutong's first stake in Hongkong. clothing Enterprises, and this news boosted, yesterday, Giordano's share price rose 3.67% against the market, closing at HK $5.93.

Giordano's annual turnover increased by 11.8% to HK $4 billion 731 million and net profit of HK $537 million, up 86% over the same period last year. As the gross profit margin of the company grew by 20% in the first quarter of 2011 and the average price of the product was increased by 5%, the investment bank believed that its gross profit outlook was stable.

Statistics show that Giordano was founded by Hongkong businessman Li Zhiying in 1981. After the withdrawal of Li's company, the shareholding of the company has been in a relatively fragmented state, with only 3 investors holding more than 5% of the fund, including 11.85% of Aberdeen Asset Management, 5.99% of dunpton and 5.56% of Morgan Fulin.

Zheng Yutong's retail Empire

Zheng Yutong, chairman of the new world development, is active in the investment community and participates in the subscription of new shares. Prior to mid March, he bought 272 million Ping H shares of Ping An, China, at HK $19 billion 450 million. Shanghai medicine, which is being invested in Hong Kong, has also been praised by Zheng Yutong. There are also reports that he plans to spin off Zhou Dafu jewelry.

Market participants revealed that Zheng Yutong's stake in Giordano was mainly based on the mainland's marketing network. Giordano chairman Liu Guoquan said recently that he plans to add 300 new stores in the mainland this year, 70% of which are concentrated in two or three line cities. Giordano realized net profit of 540 million yuan in 2010, the highest in 20 years.