Baoxiniao Holdings Co., Ltd., the vice president of China Garment Association, recently announced that the company will increase its capital by 250 million yuan to its subsidiary Shanghai Dirui. Shanghai Derui mainly represents the Korean brand HAZZYS (Haggis).
Baoxiniao Holdings Co., Ltd. recently announced that the company held the fifth meeting of the seventh board of directors and reviewed and approved the proposal on the capital increase of wholly-owned Sun Company through wholly-owned subsidiaries. Recently, it was announced that the company held the fifth meeting of the seventh board of directors and reviewed and approved the Proposal on Capital Increase of wholly-owned Sun Company through wholly-owned subsidiaries.
In order to improve the comprehensive competitiveness of Shanghai Dirui Textile Technology Co., Ltd. (hereinafter referred to as "Shanghai Dirui"), the company plans to increase the capital of Shanghai Dirui by 250 million yuan with its own funds through its wholly-owned subsidiary Zhejiang Phoenix Shangpin Brand Management Co., Ltd. (hereinafter referred to as "Phoenix Shangpin Brand Management").
Phoenix Shangpin Brand Management is a wholly-owned subsidiary of our company. Shanghai Dirui's main business is to operate international agency brand business, and Shanghai Dirui is a wholly-owned subsidiary of Phoenix Shangpin Brand Management.
Shanghai Derui's main agent brand HAZYS (Haggis) is a leisure brand under South Korea's LG Fashion Group, which was established in 1974. In 2007, it entered the developed markets in Asia such as China, and was in a leading position in the middle and high-end British leisure style market segment. By the end of 20 19, there were 392 HAZYS brand outlets. After the completion of this capital increase, the registered capital of Shanghai Dirui will increase from 50 million yuan to 300 million yuan.
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