Puma Li Wen Handbag Board Of Directors, Family Change Management

(left) Gong Fang, Li Wenen, general manager of Li Wen group, Wei Shaoqi, Li Wenzhen, executive chairman of Li Wen handbags.

After the big shareholder officially changed hands, after the share delivery was completed, Puma

Known as

And many famous brands in Europe and America.

Supplier Lee & Man Handbags Holding Ltd. (1488.HK) Li Wen handbag group's founder family also withdrew from management.

In the announcement of Tuesday's handbag, Wei Xiao Qi has resigned as executive chairman and chief executive officer of the handbag, which is replaced by Zhao Linghuan.

At the same time, Zhao Linghuan, Wang Xiaolong and Wang Yuanzheng were appointed Executive Directors of the group; Xian Shun Xiang was appointed as non-executive director; Wei Xiao Qi, Gong Fang and Li Wenen resigned as directors; Su Yong resigned as non-executive director.

Li Wen handbag was founded by husband and wife of Li Yunqiang and Wei Siqi. Before that, the group was mainly controlled and managed by the family. Wei Wei Qi served as chairman of the board of directors. The managing director of the group was held by son-in-law Gong Gong, while Li Wenen and Li Wenzhen were responsible for manufacturing and designing, marketing and other businesses.

However, at the end of May, the handbag was announced for sale, and Legend Holdings's Hongyi investment will become a new major shareholder.

Jie Heng is a Hony Capital Fund VIII (Cayman), L.P. L.P. Hongyi invested directly wholly-owned Affiliated Companies. Zhao Ling holds a 49% stake in Jie Heng, while the remaining 51% are Cao Yong Gang and Xu Min holding on average.

Hirotake has invested in China's technology giant 3396.HK Holdings Limited, and Hirotake, Zhao Linghuan's chief executive officer, is also executive vice president of Legend Holdings.

As for the new Li Wen handbag executive, Wang Xiaolong and Wang Yuanzheng also serve Hongyi investment.

Wang Xiaolong, 40, is the managing director of Hongyi, while Wang Yuanzheng, 34, is vice president of Hongyi investment.

It is reported that two people have previously focused on investment in the consumer sector.

Xian Shunxiang, 51, is vice president of Cosmo Lady (China) Holdings Company Ltd (2298.HK) urban beauty (China) Holdings Limited.

At the beginning of the month, the handbags group issued weak medium-term results. By the end of the first half of June, the group's revenue fell 13.5% to HK $283 million 300 thousand, with a profit of only HK $150.6, HK $75.6%, and 0.2 cents per share.

Li Wen handbag said that the company's profit slump was mainly due to the price war coming from Vietnam, Philippines and other national producers, which led to pressure on group orders and increased sales expenses caused by expanding retail business.

Lee & Man Handbags Holding Ltd. (1488.HK) Li Wen handbags group reported a HK $1.45 increase of 0.69% on Tuesday.