The founder of Zhuoyue was applied for bankruptcy. Why is the former well -known beauty chain in Hong Kong declined?

17.09.2022

Number of this text: 1315, reading time for about 2 minutes

Introduction: Even if the founder's family "clearing the boundaries", today's Zhuoyue is indeed "difficult to protect".

Author | First Finance Liu Xiaoying

According to local media reports in Hong Kong, Ye Junheng, the founder of Hong Kong Chain Cosmetics Store Zhuoyue Holdings (00653.HK), and his wife and son, were recently applied for bankruptcy by Fuying Co., Ltd., a subsidiary of Hongan Group's financial management service affiliated company. According to official local judicial agencies, the three cases were in the high court on November 8th in the High Court.

However, Zhuo Yue subsequently issued a statement saying that Ye Junheng and his wife had the largest shareholder Chen Jianwen when they sold their shares in 2020. The two were not the main shareholders of the group. The lawsuit had nothing to do with the group and would not affect the business. The statement pointed out that Chen Jianwen, a major shareholder, was the chairman and executive director of the board of directors, and Ye Junheng and Zhong Peiyun were also fired at the special conference of shareholders on June 29, 2021 due to a major conflict with the group's interests.

Even with the "clearing boundaries" with the founder's family, Zhuoyue today is indeed "difficult to protect."

According to public information, Zhuoyue is a Hong Kong Investment Holding Company, which is mainly engaged in the sales of beauty products, and was initiated by Ye Junheng and his wife Zhong Peiyun in 1991. Although Hong Kong encountered "SARS" in 2003, Zhuoyue successfully listed in adversity. During the peak, Ye Junheng had a family property of HK $ 1.2 billion, and Zhuo Yue once became a well -known chain cosmetics store in Hong Kong with Sasa.

But in recent years, Zhuoyue's performance has fallen all the way. According to the financial report data, from 2017 to 2020, Zhuoyue's performance revenue was HK $ 1.935 billion, HK $ 1.793 billion, HK $ 1.459 billion, and HK $ 539 million, respectively. In April of this year, Zhuoyue announced that the fiscal year 2021 showed that the company achieved operating income of HK $ 627 million, an increase of 16.37%year -on -year, and its net loss attributable to the parent company was HK $ 208 million, and the loss decreased by 18.63%year -on -year. By June this year, Zhuoyue announced the suspension and was still suspended.

Zhuo Yue, who had poor performance, was revealed in 2020. In addition, Zhuoyue also rescued himself through selling buildings, selling financial assets, issuing bonds. In March of this year, Zhuoyue sold APEx Centric, a wholly -owned subsidiary of HK $ 900 million, and used the income for fund investment. In July, Zhuoyue's Hefenglong Co., Ltd. (formerly known as Zhuoyue Cosmetics Wholesale Center Co., Ltd.) was also invited to liquidate twice a week.

In the era when Zhuo Yue and his peers were limited by information and the circulation channels, he successfully ranked among Hong Kong's beauty leader in Hong Kong. This Hong Kong chain cosmetics retailer, which is also famous (00178.HK), was once one of the must -check shopping points for mainland customers when traveling to Hong Kong.

Chen Li, a mainland resident of a university in Hong Kong, recalled that when she was studying in Hong Kong more than ten years ago, she often purchased some beauty products for relatives and friends of her classmates. The reason is that "there are many shops, can be seen everywhere, and the goods are complete. There are everything from the people's products to the international brand." She said, "At that time, the e -commerce platforms such as Taobao were not hot, and there were not many people who could travel overseas. At that time, buying cosmetics in Hong Kong has a difference in exchange rates, so it is still very advantageous. "

The so -called heroes created a hero. With the Dongfeng of the year, Zhuo Yue's success. Before the purchase of Japanese and South Korean tourism and e -commerce online, Hong Kong was once a sacred place for shopping in mainland tourists. Beauty is one of the beneficiary industries. However, in recent years, the domestic consumption environment has changed dramatically. Consumers who went to Hong Kong earlier have more shopping channels. Hong Kong cosmetics chain stores are no longer the only and best choice.

In addition to Zhuoyue, Salsa International is also not good. Since 2019, the company has lost money for several years, with a loss of 300 million to HK $ 400 million each year.

Some market analysts believe that the declining enterprises are divided into internal reasons and external causes. The internal cause is that the company's innovation speed cannot keep up with the speed of consumer changes. Consumers now accept the interests of e -commerce shopping atmosphere such as live broadcasting, social networking, and community. The traditional shopping model is not popular. The external cause is the superposition of multiple factors, the cold of tourism, and the impact of the epidemic.

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