Modern Avenue Is Expected To Lose 20 Million Yuan To 30 Million Yuan In The First Three Quarters.

Recently, the modern Boulevard fashion group Limited by Share Ltd (hereinafter referred to as "modern Avenue") released the first three quarters of 2019 notice of performance notice amendment, said in the first half of the financial report disclosed that 2019 2019 attributable to shareholders of listed companies net profit from 0 yuan to 10 million yuan, a decrease of 82.87% to 100% over the same period last year. The net profit attributable to shareholders of Listed Companies in 2019 1-9 is estimated to be 20 million yuan to 30 million yuan, down 134.26% to 151.40% over the same period last year.

The announcement shows that the three quarter 2019 performance notice is revised. The main reasons are as follows:

1. Modern Avenue, wholly owned by sun fashion, fashion Agel Ecommerce Ltd, intends to make an impairment of assets for its intangible assets (modern fashion platform APP software).

2. A wholly owned subsidiary of modern Avenue, card slave Road Apparel (Hongkong) Co., Ltd. intends to reduce the assets of its intangible assets (some trademarks).

Data show that modern Boulevard is a global fashion brand operator. Based on its own brand, rich international agency brand and buyer's shop resources, the group builds a new retail mode of online service and offline experience based on more than 300 offline fashion brand retail outlets, full channel business providers and efficient supply chain, and builds China's leading fashion group. The group's main business focuses on three major areas: clothing bags, skin care cosmetics, jewelry accessories.