Jinli Group Holdings Ltd (金麗集團控股), which runs two apparel and shoe brands in China, plans to expand its sales channels in China to more than 1,000 outlets in three years, a company official said yesterday.
The company is ready to list on the Taiwan Stock Exchange (TWSE) on Dec. 20, with the price of its initial public offering expected to be set at NT$60 per share.
“We hope to raise funding via the primary listing on Taiwan’s stock market for further expansion in China,” group chairman Chong Chun-lung (莊春龍) told a media briefing.
The group may also raise brand awareness in Taiwan and recruit more Taiwanese fashion designers after listing on the TWSE, Chong added.
Jinli Group runs two medium-priced casual clothing and shoe brands — G-Apple and e.t — with various agents in charge of sales at 774 outlets in Beijing and 17 Chinese provinces, mainly in third and fourth-tier cities.
The group plans to boost the channel for both brands to more than 1,000 outlets in three years, mainly in the southwestern and eastern regions of China, Chong said.
For next year, the group expects its sales channel to reach 854 outlets after it launches 80 new outlets and promotes the two brands in two new provinces, Chong added.
For the first nine months of the year, the group posted a net profit of NT$643.35 million (US$22.1 million), or NT$6.26 per share — equivalent to about 85 percent of its full-year net income of NT$750.76 million last year, group financial data showed.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last
US CONSCULTANT: The US Department of Commerce’s Ursula Burns is a rarely seen US government consultant to be put forward to sit on the board, nominated as an independent director Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday nominated 10 candidates for its new board of directors, including Ursula Burns from the US Department of Commerce. It is rare that TSMC has nominated a US government consultant to sit on its board. Burns was nominated as one of seven independent directors. She is vice chair of the department’s Advisory Council on Supply Chain Competitiveness. Burns is to stand for election at TSMC’s annual shareholders’ meeting on June 4 along with the rest of the candidates. TSMC chairman Mark Liu (劉德音) was not on the list after in December last