Li Ying Fang Sells Stake in Shanghai Subsidiary for Up to 420 Million Yuan
Due to the sluggish market in China and declining birth rates, the well-known children's clothing brand 'Li Ying Fang' announced on the evening of the 16th that it plans to sell its stake in its Shanghai subsidiary, with the transaction price potentially reaching 420 million Yuan (approximately 1.725 billion Taiwan dollars). The company has reached a preliminary cooperation intention with specific investors and signed an MOU.
Vice President Yu Shuyi stated, 'To revitalize our assets in China and implement a light asset operating strategy, we plan to sell the stake in Shanghai Li Ying Fang.' The transaction price is expected to be between 370 million and 420 million Yuan, with the final price to be determined after board discussions.
In response to the economic downturn and fierce competition, many Taiwanese companies have been reducing their presence or withdrawing from the Chinese market in recent years.
