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LANDHIKER are manufacturing and producing in shoes and garment.

After a sharp drop of 39 billion yuan, the "former richest man in Quanzhou" suddenly announced its withdrawal


Time:

26 Sep,2023

A generation of shoe kings has completely fallen.
Recently, Guirenniao announced on the Shanghai Stock Exchange that it plans to optimize and adjust its business operations, prioritize and focus on expanding and strengthening its grain business, and gradually withdraw from its sports shoes and clothing business.
In the announcement, Guirenniao stated that in view of the current and future internal and external opportunities and challenges faced by the company, in order to achieve a focus on its main business, the company's board of directors plans to adjust its business operations, with the grain business as its main future business development direction, prioritize and focus on expanding and strengthening the grain business, and gradually withdraw from the sports shoes and clothing business.
Regarding the withdrawal of the shoe and clothing business, Guirenniao explained that in view of the decline in revenue, continuous losses, and increasingly fierce market competition in the sports shoe and clothing business since the judicial restructuring, the company will optimize and adjust the sports shoe and clothing business. Based on the actual operating situation of the company, the company will dispose of brand assets such as "Guirenniao" and "Prince" and other sports shoe and clothing related assets through methods including but not limited to authorization, licensing, sales, leasing, etc, And gradually withdraw from the sports shoes and clothing business.
It means that the former "shoe king" will end its 36 year old sports shoe and clothing business, which is regrettable.

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