Ceng Xianzi, Founder Of Goldlion, Died.

In September 20th, Goldlion group issued an obituary saying that the former NPC Standing Committee member, founder of Goldlion group and Ceng Xianzi, a famous entrepreneur in Hongkong, were invalid because of medical treatment and died at 16:28 on September 20th at Meizhou, hometown of Guangdong, at the age of 85. Lin Zhengyuee, chief executive of the Hongkong Special Administrative Region, expressed deep condolences on the death of Ceng Xianzi on 20 th.

Ceng Xianzi passed away yesterday.

In September 20th, Goldlion group issued an obituary. Ceng Xianzi was enthusiastic about public welfare and made contributions to the country's education, science and technology and sports. Before the return of Hongkong, Ceng Xianzi served as a consultant in Hong Kong and a member of the Preparatory Committee of the Hongkong Special Administrative Region. After the return of Hongkong, Ceng Xianzi was awarded the grand Bauhinia medal and became one of the first batch of 12 Bauhinia medals awarded by the government of the Hongkong Special Administrative Region.

It is understood that Ceng Xianzi was born in 1934 in Meixian, Guangdong, a peasant family, moved to Hongkong in 1968 to open the road of business, founded the brand of Goldlion tie, became a renowned "necktie king" in Hongkong. The slogan of "Goldlion, men's world" once landed on CCTV and major satellite TV stations.

According to official data, Ceng Xianzi started investing in factories in the mainland in 1986. In 1989, China's silver lining Limited was set up as the first Sino foreign joint venture specializing in tie production. The organization of overseas Chinese investment in the mainland led to the sixth World Conference on Chinese businessmen in Nanjing in 2001.

In December 2018, at the 40th Anniversary Conference of China's reform and opening up, Ceng Xianzi won the medal of reform pioneer.

Enthusiasm for charity and education

Ceng Xianzi is especially keen on charitable causes.

According to official data, Ceng Xianzi donated funds to support the national education, aerospace, sports, technology, medical and social welfare undertakings from the end of the 70s. Over the past year, he donated more than 1400 items, with a total value of more than HK $1 billion 200 million.

In his early years, Ceng Xianzi dropped out of school and became a "tie leader" because of poor families. He was keen to develop and contribute to cultural, educational, sports, medical and social undertakings in the mainland and Hongkong. In 1992, he donated HK $one hundred million to establish the Ceng Xianzi Education Fund in collaboration with the Ministry of education to help poor areas. As of December 2018, according to incomplete statistics, the foundation has spent more than 264 million yuan over the past years to subsidize education in the mainland.

In 2003, he announced the donation of HK $one hundred million to establish the Ceng Xianzi manned spaceflight fund to reward experts and astronauts who contributed to the cause of China's space science and technology. Ceng Xianzi once said, "although I am not rich, I always want to repay my motherland's training in various ways. The purpose of the manned spaceflight fund is to express our confidence in the country's prosperity.

In August 2008, he announced the donation of HK $one hundred million to establish the Ceng Xianzi sports foundation. So far, the foundation has awarded 176 gold medals to mainland Chinese athletes who won gold medals in the Olympic Games, with a total bonus of more than HK $7500.

For several years, Ceng Xianzi's patriotic spirit has also been seen by the world.

What is the status of Goldlion?

However, Goldlion's development in recent years has not been very satisfactory.

On the evening of August 15th, Goldlion (00533.HK) released its first half performance in 2019, with its main business income of HK $744 million, down about 5%, and net profit of HK $163 million, down 5% from the same period last year. The company noted that the decline in revenue was mainly due to a 5% decline in the RMB exchange rate during the period compared with the same period last year. During the period, there was no significant difference in the domestic business income calculated by Renminbi in the same period last year. Only Singapore's clothing and apparel sales decreased compared with last year.

The company's current business is mainly focused on two industries, namely, the clothing and apparel business in mainland China and Hongkong, the clothing and apparel business in Singapore and Malaysia, the three major business areas in property investment and development.

The gross profit margin for the period was HK $433 million, down about 5% from HK $458 million in the same period last year, which is roughly the same as the decrease in total turnover. The gross profit margin was 58.1%, down 0.4%. Gross domestic product sales of domestic clothing sales were about 52.4%, down 0.3%, and the inventory impairment recorded in the period not included in the period was 2 million 690 thousand Hong Kong dollars (9 million 270 thousand Hong Kong dollars in the same period last year), and gross margin fell by 2.3%, as a result of more promotional offers.

Specifically, the company's domestic clothing sales continue to sell to many provinces and cities wholesale business agents, mainly located in Guangzhou, Shanghai, Beijing and Chongqing self operated retail outlets (including outlets), e-commerce channel and group customization business. The total turnover in the period was HK $580 million, down by about 5% compared with the same period last year.

The Singapore and Malaysia markets were affected by poor external economies, weak local retail environment and the company's clothing business. With the sale of individual sales outlets since the second half of last year, the sales volume of the company's clothing business was HK $31 million 40 thousand, down by about 5% compared with the same period last year, and the overall performance was not satisfactory.

Goldlion believes that the downward pressure on domestic economy is still large, growth is slowing, and the RMB exchange rate fluctuates, and there is no sign of improvement in retail industry. In addition, the company expects that the business of domestic agents will be difficult to see in the second half of the year. It will examine whether the whole operation structure needs to be adjusted and the operation of agents should be reviewed so as to provide appropriate business improvement strategies.