Wiknus Intends To Rename The "Jin Hong Group" With A Government Subsidy Of 14 Million 70 Thousand Yuan.

It was learned that the Vigna S fashion Limited by Share Ltd, the local well-known women's clothing brand, announced the announcement of the second meeting of the provisional shareholders' meeting on 2019 in May 24th. The motion shows that the Vigna S fashion company intends to rename the company of the joint company into "Jin Hong fashion group Limited by Share Ltd". The English name is changed from "V-Grass Fashion Co., Ltd." to "Jinhong Fashion Group Co., Ltd.". The company's securities referred to as "jinnunsi" changed to "Jin Hong Group" and the securities code remains unchanged (603518).

It is understood that Vigna S renamed this is to better enhance the corporate image, highlight the strength of the company, further integrate resources, expand the company's size to enhance the overall competitiveness of the group, according to the actual needs of the company's business development.

The name of the new group will be approved by the shareholders' meeting, and the Licensing companies board and the authorized persons of the board of directors will make amendments to the articles of association and complete the registration of industrial and commercial changes.

In addition, the group also indicated that part of its business scope was revised.

In addition to retaining the original clothing, clothing, accessories, design, production, development and sales, it has increased equity investment, technology services, business management services and consulting, information technology services, cultural and creative services.

Before that, the domestic garment retailing industry is facing a downturn in the overall environment.

Since listing, Vigna S has been deeply depressed by the sluggish revenue and has been criticized. The brand has been seeking a breakthrough in pformation, especially in the acquisition of brand.

In 2015, Wien Nash bought Nanjing cloud brocade to occupy high-end luxury women's clothing market. However, Yun Brocade was not satisfactory in the following performance.

What really turned Vigna S around was a takeover paction which was regarded as a typical "snake swallow" in 2017. Vigna S bought the Teenie Weenie brand and the brand related assets and business of the Korean clothing giant clothing and love group, with the "5 billion 700 million yuan" full body "$1 billion 377 million". In the following half year report, the company's operating income was 1 billion 377 million yuan, up 48.33% compared with the same period last year, of which the original brand VGRASS's revenue was 418 million 400 thousand yuan, accounting for 30.4%, and the Teenie Weenie in half year's report accounted for 60% of the total revenue of Vigna S.

The continued performance of the earnings report may prove that the acquisition of Teenie Weenie is a step forward.

Vigna S fashion Limited by Share Ltd also showed that the company received a total of 14072165.33 yuan from January 1, 2019 to May 23, 2019, which will be included in the company's 2019 profit and loss.

In the case of foreign brands entering the Chinese market and sinking of local brands, the business of the future clothing market will be even more difficult. The crisis and opportunities faced by local women's clothing brands will also take place.