Lining Continues To Hold The Target Of "Single Brand And Multi Category", Focusing Mainly On The Chinese Market.

It is learned that Lining (02331) executive chairman Lining said after the shareholders' meeting that the company's business was mainly focused on the Chinese market. For the time being, it did not see that the external environment had a great impact on the group business or market consumer confidence, but the group would remain cautious.

In addition, Lining said that the company has a "single brand and multi category" target, focusing on the development of the Lining brand itself, so there is no other brand plan for the acquisition of other brands at this stage.

According to Lining's performance before, eight years ago, Lining's sales volume was close to 10 billion, which made the company eager to move forward. At that time, the company lacked its subdivision, and later discovered that the core competence of a brand was not mature enough, and then dispersed and copied to other brands, it would make the efficiency lower, the possibility of failure was great, and it also scattered the resources and energy. After summing up, Lining regards single brand, multi category and multi-channel as the core strategy management strategy. This is more consistent with the development of Lining's long line, and the probability of success is even higher.

In addition, it is understood that the number of Lining outlets (excluding Lining YOUNG) amounts to 6310 in terms of the number of stores, with a net decrease of 34 in the first quarter, of which retail business has been reduced by 105, and wholesale business has increased by 71.

Ceng Huafeng, chief financial officer of the company, said that the company closed about 30 low loss stores in the first quarter, but expanded by about 100 in the same quarter. Will continue to focus on store efficiency development, Lining said that the company will merge and develop online and offline in the future.

The sales performance of the second quarter to date will be announced in the interim results. When asked whether he would consider the medium-term interest payment, he replied, "the group's first dividend payment will go one step at a time."

For the 2020 Tokyo Olympics, Lining said the company would give full support to the design and development of the Chinese team. Lining also revealed that the group is looking for candidates for the chief executive and will be announced in due course.

It is reported that the group was previously reduced by major shareholder China (08032). Lining, who is also Lining's executive chairman and deputy chief executive officer and outstanding Chinese President, said that extraordinary China will continue to support Lining's development and there is no further reduction plan. Author: Kong Wenjie