9 Mu Wang 2016 First Quarter Revenue Decreased 28.97%

In April 26th,

Announced 2016 first quarter earnings report, revenue 180 million, year-on-year decrease of 28.97%, net profit 128 million, an increase of 0.36% over the same period.

The report shows that in 1-3 months, the brand of JOEONE and FUN brand of the nine Mu Wang brand opened a total of 41 new stores and closed 67 stores. As of March 31st, the total number of stores in nine Mu Wang was 2766, with a total closure of 26 in the first quarter, and gross profit margin increased 0.84% over the same period last year.

After the decline of performance and the adjustment of channel, in the 2015 annual report which was just released soon, King Mu Wang finally realized double growth of operating income and net profit, which is related to the improvement of retail operation capacity, the change of marketing strategy and the strengthening of research and development of commodities.

After the decline of performance and the adjustment of channels, the king of Mu has finally achieved double growth in operating income and net profit, which is related to the improvement of retail operation capacity, the change of marketing strategy and the strengthening of research and development of commodities.

Looking forward to the future, Lin Congying, chairman of the nine Mu Wang, said, in addition to development

Besides the main industry, it will actively explore the investment in clothing related industries, and strive to create an elite life fashion industry group, focusing on "elite life" for industrial layout and coverage.

Clothing, fashion culture, fashion entertainment, fashion sports, fashion health and so on.