New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥4.50, the stock trades at a trailing P/E ratio of 60.2x. Average trailing P/E is 43x in the Luxury industry in China. Total returns to shareholders of 32% over the past three years. Valuation Update With 7 Day Price Move • May 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to CN¥5.73, the stock trades at a trailing P/E ratio of 76.6x. Average trailing P/E is 43x in the Luxury industry in China. Total returns to shareholders of 45% over the past three years. Reported Earnings • Apr 25
First quarter 2026 earnings released: EPS: CN¥0.02 (vs CN¥0.01 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.02 (up from CN¥0.01 in 1Q 2025). Revenue: CN¥360.8m (up 9.3% from 1Q 2025). Net income: CN¥15.8m (up 58% from 1Q 2025). Profit margin: 4.4% (up from 3.0% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 131% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Apr 25
Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 22, 2026 Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 22, 2026, at 15:00 China Standard Time. Location: 3F, No. 168, Guyuan Road, Lugu Industrial Base, High-tech Industrial Development Zone, Changsha, Hunan China Announcement • Mar 31
Hunan Mendale Hometextile Co.,Ltd to Report Q1, 2026 Results on Apr 27, 2026 Hunan Mendale Hometextile Co.,Ltd announced that they will report Q1, 2026 results on Apr 27, 2026 Announcement • Dec 31
Hunan Mendale Hometextile Co.,Ltd to Report Fiscal Year 2025 Results on Apr 27, 2026 Hunan Mendale Hometextile Co.,Ltd announced that they will report fiscal year 2025 results on Apr 27, 2026 Reported Earnings • Oct 27
Third quarter 2025 earnings released: EPS: CN¥0.004 (vs CN¥0.001 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.004 (up from CN¥0.001 in 3Q 2024). Revenue: CN¥365.6m (up 9.8% from 3Q 2024). Net income: CN¥1.10m (up 131% from 3Q 2024). Profit margin: 0.3% (up from 0.1% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Hunan Mendale Hometextile Co.,Ltd to Report Q3, 2025 Results on Oct 27, 2025 Hunan Mendale Hometextile Co.,Ltd announced that they will report Q3, 2025 results on Oct 27, 2025 Announcement • Jul 02
Hunan Mendale Hometextile Co.,Ltd to Report First Half, 2025 Results on Aug 27, 2025 Hunan Mendale Hometextile Co.,Ltd announced that they will report first half, 2025 results on Aug 27, 2025 Reported Earnings • May 03
Third quarter 2024 earnings released: EPS: CN¥0.001 (vs CN¥0.011 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.001 (down from CN¥0.011 in 3Q 2023). Revenue: CN¥333.0m (down 28% from 3Q 2023). Net income: CN¥477.1k (down 95% from 3Q 2023). Profit margin: 0.1% (down from 2.2% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Apr 28
Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 23, 2025 Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 23, 2025, at 15:00 China Standard Time. Location: 3F, No. 168, Guyuan Road, Lugu Industrial Base, High-tech Industrial Development Zone, Changsha, Hunan China Announcement • Mar 31
Hunan Mendale Hometextile Co.,Ltd to Report Q1, 2025 Results on Apr 28, 2025 Hunan Mendale Hometextile Co.,Ltd announced that they will report Q1, 2025 results on Apr 28, 2025 New Risk • Jan 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 9.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 36% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Large one-off items impacting financial results. Announcement • Dec 31
Hunan Mendale Hometextile Co.,Ltd to Report Fiscal Year 2024 Results on Apr 28, 2025 Hunan Mendale Hometextile Co.,Ltd announced that they will report fiscal year 2024 results on Apr 28, 2025 Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.001 (vs CN¥0.011 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.001 (down from CN¥0.011 in 3Q 2023). Revenue: CN¥333.0m (down 28% from 3Q 2023). Net income: CN¥477.1k (down 95% from 3Q 2023). Profit margin: 0.1% (down from 2.2% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Sep 30
Hunan Mendale Hometextile Co.,Ltd to Report Q3, 2024 Results on Oct 31, 2024 Hunan Mendale Hometextile Co.,Ltd announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥2.24, the stock trades at a trailing P/E ratio of 78.6x. Average trailing P/E is 20x in the Luxury industry in China. Total loss to shareholders of 43% over the past three years. New Risk • Sep 18
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 45% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 46% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. Buy Or Sell Opportunity • Sep 18
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.0% to CN¥1.89. The fair value is estimated to be CN¥2.37, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.025 (vs CN¥0.014 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.025 (up from CN¥0.014 in 2Q 2023). Revenue: CN¥452.9m (down 16% from 2Q 2023). Net income: CN¥11.3m (up 9.5% from 2Q 2023). Profit margin: 2.5% (up from 1.9% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 22% per year, which means it is performing significantly worse than earnings. Announcement • Jun 29
Hunan Mendale Hometextile Co.,Ltd to Report First Half, 2024 Results on Aug 30, 2024 Hunan Mendale Hometextile Co.,Ltd announced that they will report first half, 2024 results on Aug 30, 2024 Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to CN¥1.95, the stock trades at a trailing P/E ratio of 72x. Average trailing P/E is 20x in the Luxury industry in China. Total loss to shareholders of 52% over the past three years. New Risk • May 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 72% per year over the past 5 years. Minor Risk Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Announcement • Apr 30
Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 24, 2024 Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 24, 2024, at 15:00 China Standard Time. Location: 3F, No. 168, Guyuan Road, Lugu Industrial Base, High-tech Industrial Development Zone, Changsha, Hunan China Announcement • Mar 30
Hunan Mendale Hometextile Co.,Ltd to Report Q1, 2024 Results on Apr 29, 2024 Hunan Mendale Hometextile Co.,Ltd announced that they will report Q1, 2024 results on Apr 29, 2024 Announcement • Dec 29
Hunan Mendale Hometextile Co.,Ltd to Report Fiscal Year 2023 Results on Apr 29, 2024 Hunan Mendale Hometextile Co.,Ltd announced that they will report fiscal year 2023 results on Apr 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.011 (vs CN¥0.067 loss in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.011 (up from CN¥0.067 loss in 3Q 2022). Revenue: CN¥463.1m (up 4.8% from 3Q 2022). Net income: CN¥10.0m (up CN¥64.7m from 3Q 2022). Profit margin: 2.2% (up from net loss in 3Q 2022). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. New Risk • Oct 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 73% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (6.4% average weekly change). Buying Opportunity • Oct 20
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 2.5%. The fair value is estimated to be CN¥4.51, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Sep 08
Now 21% undervalued Over the last 90 days, the stock is up 11%. The fair value is estimated to be CN¥4.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 31
Second quarter 2023 earnings released: EPS: CN¥0.032 (vs CN¥0.065 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.032 (up from CN¥0.065 loss in 2Q 2022). Revenue: CN¥536.9m (up 22% from 2Q 2022). Net income: CN¥10.3m (up CN¥44.5m from 2Q 2022). Profit margin: 1.9% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • May 06
Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 26, 2023 Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 26, 2023, at 15:00 China Standard Time. Agenda: To consider 2022 work report of the board of directors; to consider 2022 work report of the supervisory committee; to consider 2022 annual report and its summary; to consider 2022 annual accounts; to consider 2022 profit distribution plan; to consider Unrecovered losses account for one-third of the paid-in capital; to consider Provision of guarantee for the bank comprehensive credit line applied for by controlled subsidiaries; and to consider Repurchase and cancellation of some restricted stocks under 2021 stock option and restricted stock incentive plan. Reported Earnings • Apr 30
First quarter 2023 earnings released: EPS: CN¥0.01 (vs CN¥0.01 loss in 1Q 2022) First quarter 2023 results: EPS: CN¥0.01 (up from CN¥0.01 loss in 1Q 2022). Revenue: CN¥462.4m (down 10% from 1Q 2022). Net income: CN¥10.9m (up CN¥20.1m from 1Q 2022). Profit margin: 2.4% (up from net loss in 1Q 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Board Change • Mar 01
High number of new directors There are 8 new directors who have joined the board in the last 3 years. Non-Independent Director Guofu Li was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 07
Hunan Mendale Hometextile Co.,Ltd Approves Executive Elections Hunan Mendale Hometextile Co.,Ltd approved election of Yi Hao, Li Guofu, Liu Yanming, Chen Jie and Luo Gengbao as non-independent directors; Dai Xiaofeng and Hu Xing as independent directors at the Extraordinary General Meeting held on February 3, 2023. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.067 loss per share (vs CN¥0.026 loss in 3Q 2021) Third quarter 2022 results: CN¥0.067 loss per share (further deteriorated from CN¥0.026 loss in 3Q 2021). Revenue: CN¥441.7m (down 14% from 3Q 2021). Net loss: CN¥54.7m (loss widened 179% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 26
Second quarter 2022 earnings released: CN¥0.065 loss per share (vs CN¥0.015 profit in 2Q 2021) Second quarter 2022 results: CN¥0.065 loss per share (down from CN¥0.015 profit in 2Q 2021). Revenue: CN¥439.9m (down 14% from 2Q 2021). Net loss: CN¥34.1m (down 369% from profit in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Announcement • May 07
Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 27, 2022 Hunan Mendale Hometextile Co.,Ltd, Annual General Meeting, May 27, 2022, at 15:00 China Standard Time. Agenda: To consider 2021 work report of the board of directors; to consider 2021 work report of the supervisory committee; to consider 2021 annual report and its summary; to consider 2021 annual accounts; to consider 2021 profit distribution plan; to consider Reappointment of audit firm; and to consider any other matters. Reported Earnings • May 02
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: CN¥0.01 loss per share (down from CN¥0.05 profit in 1Q 2021). Revenue: CN¥514.2m (up 2.2% from 1Q 2021). Net loss: CN¥9.21m (down 127% from profit in 1Q 2021). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 26% share price decline to CN¥2.81, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 10x in the Luxury industry in China. Total loss to shareholders of 46% over the past three years. Board Change • Dec 31
High number of new directors Non-Independent Director Yan Cheng was the last director to join the board, commencing their role in 2021. Reported Earnings • Oct 31
Third quarter 2021 earnings released: CN¥0.026 loss per share (vs CN¥0.027 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: CN¥513.6m (up 9.3% from 3Q 2020). Net loss: CN¥19.6m (loss narrowed 4.1% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 29
Second quarter 2021 earnings released: EPS CN¥0.015 (vs CN¥0.02 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥513.4m (down 2.0% from 2Q 2020). Net income: CN¥12.7m (down 16% from 2Q 2020). Profit margin: 2.5% (down from 2.9% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥4.73, the stock trades at a forward P/E ratio of 44x. Average forward P/E is 15x in the Luxury industry in China. Total returns to shareholders of 8.9% over the past three years. Announcement • May 25
Hunan Mendale Hometextile Co.,Ltd Approves Cash Dividend for the Year 2020 Hunan Mendale Hometextile Co.,Ltd at the AGM held on May 21, 2021, the shareholders approved CNY 0.6000000 cash dividend/10 shares (tax included) for the year 2020. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.05 (vs CN¥0.04 in 1Q 2020) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: CN¥502.9m (up 39% from 1Q 2020). Net income: CN¥34.4m (up 13% from 1Q 2020). Profit margin: 6.8% (down from 8.4% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Apr 29
Hunan Mendale Hometextile Co.,Ltd Proposes Final Cash Dividend for the Year 2020 Hunan Mendale Hometextile Co.,Ltd proposed final cash dividend per ten shares (tax included) of CNY 0.60000000 for the year 2020. Announcement • Feb 11
Hunan Mendale Hometextile Co.,Ltd announced that it expects to receive CNY 500 million in funding Hunan Mendale Hometextile Co.,Ltd (SZSE:0023 announced a private placement of not more than 100,000,000 shares for gross proceeds of not more than CNY 500,000,000 on February 9, 2021. The par value of shares is CNY 1 per share. The issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction will include participation from not more than 35 investors. All securities issued in the transaction have a hold period of 6 months. The transaction has been approved in the 17th meeting of the 5th directorate and is subject to approval of shareholders meeting and the China Securities Regulatory Commission. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥4.01 The company is down 24% from its price of CN¥5.26 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥54.39 per share. Is New 90 Day High Low • Jan 08
New 90-day low: CN¥4.40 The company is down 15% from its price of CN¥5.20 on 09 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥54.84 per share. Is New 90 Day High Low • Dec 02
New 90-day low: CN¥4.79 The company is down 11% from its price of CN¥5.38 on 03 September 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥47.18 per share. Is New 90 Day High Low • Oct 30
New 90-day low: CN¥4.95 The company is down 15% from its price of CN¥5.83 on 31 July 2020. The Chinese market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Luxury industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥49.58 per share. Reported Earnings • Oct 28
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥12.6m, down 86% from the prior year. Total revenue was CN¥2.27b over the last 12 months, down 11% from the prior year. Announcement • Oct 20
Hunan Mendale Hometextile Co.,Ltd to Report Q3, 2020 Results on Oct 27, 2020 Hunan Mendale Hometextile Co.,Ltd announced that they will report Q3, 2020 results on Oct 27, 2020 Price Target Changed • Oct 01
Price target raised to CN¥5.98 Up from CN¥4.71, the current price target is an average from 2 analysts. The new target price is 17% above the current share price of CN¥5.13. As of last close, the stock is up 3.4% over the past year. Announcement • Sep 19
Wu Jing acquired 8% stake in Hunan Mendale Hometextile Co., Ltd. (SZSE:002397) from Jiang Tianwu. Wu Jing acquired 8% stake in Hunan Mendale Hometextile Co., Ltd. (SZSE:002397) from Jiang Tianwu on January 26, 2017. Post completion Jiang Tianwu hold 29.4% stake in Hunan Mendale Hometextile Co., Ltd
Wu Jing completed the acquisition of 8% stake in Hunan Mendale Hometextile Co., Ltd. (SZSE:002397) from Jiang Tianwu on January 26, 2017. Announcement • Aug 07
Hunan Mendale Hometextile Co.,Ltd to Report First Half, 2020 Results on Aug 26, 2020 Hunan Mendale Hometextile Co.,Ltd announced that they will report first half, 2020 results on Aug 26, 2020 Announcement • Jul 30
Yang Zhi cancelled the acquisition of 4.89% stake in Hunan Mendale Hometextile Co.,Ltd (SZSE:002397) from Golden Eagle Asset Management Co. Ltd. Yang Zhi signed an agreement to acquire 4.89% stake in Hunan Mendale Hometextile Co.,Ltd (SZSE:002397) from Golden Eagle Asset Management Co. Ltd. for approximately CNY 310 million on July 1, 2019. Golden Eagle Asset Management Co. Ltd. will sell 38.12 million shares at CNY 8.09 per share. In a related transaction, Yang Zhi signed an agreement to acquire 4.89% stake in Hunan Mendale Hometextile Co.,Ltd from Manulife Teda Fund Management Co., Ltd. for approximately CNY 310 million. Prior to the transactions, Yang Zhi held no stake and after the transactions, Yang Zhi will hold 9.78% stake in Hunan Mendale Hometextile Co.,Ltd.
Yang Zhi cancelled the acquisition of 4.89% stake in Hunan Mendale Hometextile Co.,Ltd (SZSE:002397) from Golden Eagle Asset Management Co. Ltd. on July 1, 2020. Announcement • Jul 23
Yang Zhi cancelled the acquisition of 4.89% stake in Hunan Mendale Hometextile Co.,Ltd (SZSE:002397) from Manulife Teda Fund Management Co., Ltd. Yang Zhi signed an agreement to acquire 4.89% stake in Hunan Mendale Hometextile Co.,Ltd (SZSE:002397) from Manulife Teda Fund Management Co., Ltd. for approximately CNY 310 million on July 1, 2019. Manulife Teda Fund Management Co., Ltd. will sell 38.12 million shares at CNY 8.09 per share. In a related transaction, Yang Zhi signed an agreement to acquire 4.89% stake in Hunan Mendale Hometextile Co.,Ltd from Golden Eagle Asset Management Co. Ltd. for approximately CNY 310 million on July 1, 2019. Prior to the transactions, Yang Zhi held no stake and after the transactions, Yang Zhi will hold 9.78% stake in Hunan Mendale Hometextile Co.,Ltd.
Yang Zhi cancelled the acquisition of 4.89% stake in Hunan Mendale Hometextile Co.,Ltd (SZSE:002397) from Manulife Teda Fund Management Co., Ltd. on July 1, 2020