Bosideng Said It Has Acquired 70% Stake In Shenzhen Bao Bao International Company.

By the end of last month,

Announces annual results, and reveals that it is looking for mergers and acquisitions.

Opportunities.

In less than a month, Boston quickly completed an acquisition.

In July 22nd, Bosideng said it had completed its 70% stake in the acquisition of Shenzhen Bang Bao International Holdings Limited.

It is understood that Bosideng through the group's wholly owned Affiliated Companies Jesse International Holdings Limited, the acquisition of Jin Feng investment and Development Co., Ltd. and Prestige Stand Investment DevelopmentLimited holding Bang Bao International Holdings Limited 70% stake, the total cost of about 637 million Hong Kong dollars, Bosideng paid 70 million yuan in cash, and the issue price of HK $0.652 per share to issue 850 million shares of the shares payable.

It is understood that the Shenzhen women's clothing brand treasure, positioning high-end, mainly for women aged 30-45.

As early as 2013, Bosideng paid 150 million yuan through Jesse to buy the 30% stake of Bao Bao first. After the acquisition, the development of Bao Bao business has been relatively good.

In the financial year ended March 31, 2015, the net profit of bang Bao was RMB 88 million 843 thousand yuan.

After the completion of the acquisition, Bosideng will have a wholly owned brand.

First seller Jin Feng Investment Development Co., Ltd. held 9.21% stake and second seller Prestige Stand Investment Development Limited holding 0.4%.

According to reporters, Bosideng acquired women's clothing brand or related to its business pformation.

Although Bosideng has the market share in the down jacket Market for the first time, the business of the down garment business is down, and the business of men and women is blocked.

In the past few years, Boston has experienced a two - year decline in operating revenue and a three - year decline in net profit.

But as of March 31, 2016, Bosideng realized a net profit of 280 million yuan, up 112.5% from 132 million yuan in the same period last year.

Now perhaps the best time for pformation.

Gao Dekang, chairman of Bosideng's board of directors, has said that Bosideng should strive to pform into a respectable world-renowned integrated garment operator. He expects to increase the proportion of non down business in the group's revenue to 40% in the next three years.

But according to last year's performance, its down garment business still accounts for 64.8%.

In addition, Bosideng is also difficult to avoid the shops.

At the end of last month's performance press conference, Boston's chief financial officer, Mai Yun Quan, said that he would continue to optimize sales channels this year and close down inefficient stores, but would maintain the number of outlets in about 5000 levels while developing online sales.

By the end of 2016 3, the total number of retail outlets in its down garment business has decreased by 1328 to 5271.

Among them, the number of self operated retail outlets decreased by 833, and the retail outlets operated by third party distributors decreased by 495.

In the non feather down business part, the company's revenue dropped by 18.3% to 826 million yuan.

Besides Jesse's brand income increase, Bosideng men's clothing and Mogao's income all declined.

In the store, Bosteng men's clothing, Jesse and Mogao respectively reduced 175, 8 and 61 respectively.

With the down jacket part, Bosideng reduced 1572 stores last year, which is much lower than that of more than 5000 stores in the previous financial year.