BELLE Intends To Reject 563 Million Yuan Buyer Of All Shoe Products

BELLE International announced the takeover action again. It plans to purchase all the rights and interests of the Yong Xu footwear industry in Shanghai, the mainland shoe retailer, Jiangsu's group. The initial cost will be about 563 million yuan (RMB). The latter is mainly engaged in the manufacture of men's shoes with the original equipment.

As at the end of last year, Shanghai Yong Xu made a profit of 15 million 620 thousand yuan after tax and 1-9 yuan in the past 1-9 months.

BELLE said that Shanghai Yong Xu set up its own production plant in Shanghai, with its production facilities capable of producing and processing footwear products in full scale. The acquisition can improve the efficiency of the company's vertical integration business mode and expand its capacity to meet the market demand.

BELLE announced this month that it would buy some assets and trademarks of Jiangsu's stock group at a cost of 1 billion 600 million yuan.

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