Hasen Was Poor In Performance And Laid Off More Than 500 People In Two Years.

On the evening of July 9th, Hasen Commerce (China) Limited by Share Ltd (hereinafter referred to as "Hasen") announced that in April 1st of this year, 30 days in April 1st this year, Hasen, a wholly owned subsidiary of Shenzhen Zhenxing Shoes Co., Ltd. and 73 employees, relieved the labor relationship and offered compensation of 3 million 923 thousand and 400 yuan.

It is worth noting that this is Hasen's dismissal of employees again this year.

In fact, Hasen began to lay off workers in the second years since he went public in 2016. As of October 31, 2017, Hasen and his subsidiary had paid 16 million 896 thousand and 200 yuan for dismissal, involving 466 employees.

Behind the layoffs is Hasen's poor performance.

In 2016, Hasen's performance began to decline after the listing of the company. The operating income dropped 13.21% to 1 billion 682 million yuan in the same year, and the net profit attributable to both the net profit and the net profit declined by 30% over the same period, which was 80 million 490 thousand yuan and 52 million 820 thousand yuan respectively. In 2017, the net profit of Hasen continued to expand, and its operating income was 1 billion 497 million yuan, down 11.03% compared to the same period.

Net profit attributable to 18 million 170 thousand yuan, down 77.42% over the same period last year.

In the 2017 annual report, Hasen disclosed that the company was trapped in the increasingly fierce competition in the domestic market and the pfer of export business to Southeast Asia, Central America and other places with low cost. The company streamlined the export units to improve economic efficiency.

In addition, Hasen also closed a large number of stores to reduce costs.

In 2016, Hasen reduced 194 stores, and in 2017, Hasen closed 159 stores.

It is reported that Hasen positioned in the high-end.

Its brand operations, product design, production and sales are owned by Hasen, Cardenal, Calvin, AI tour and Hasen.

5 private brands, acting as agents for foreign famous brands such as ROBERTA and DANSKO, or providing OEM/ODM processing business.