en.Wedoany.com Reported - On May 20, 2026, Metersbonwe (002269) completed its board re-election. Founder Zhou Chengjian was unanimously elected as Chairman of the seventh Board of Directors and concurrently serves as President. This re-election comes more than two years after his last emergency return. At 64, Zhou Chengjian has officially ended Metersbonwe's nearly eight-year second-generation management cycle, fully taking over company operations under a centralized "Chairman + President" power structure.
Zhou Chengjian last stepped back from the front lines in November 2016. At that time, the 51-year-old resigned from his positions as Chairman and President for "personal reasons," handing the baton to his 30-year-old daughter, Hu Jiajia. However, over the subsequent seven years, Hu Jiajia failed to curb the company's decline, with Metersbonwe accumulating nearly 3.2 billion yuan in losses during this period. In January 2024, facing sustained operational pressure on the company, Hu Jiajia resigned, forcing Zhou Chengjian to return to the front lines and once again serve as Chairman and President of Metersbonwe.
In the more than two years since his return, Zhou Chengjian has launched a series of measures in supply chain optimization, product innovation, and channel transformation. The company shifted from a single trendy casual focus to a dual-track strategy of "Trendy Outdoor + New Retail," opening new experience stores in multiple locations nationwide and officially announcing a full-scale transformation into the outdoor sector at the end of 2024. To connect with younger consumers, Zhou Chengjian personally engaged in livestream sales, with his debut show exceeding 15 million yuan in sales and attracting 3.78 million views. In September 2025, he danced a group dance in a Douyin livestream, attracting over 200,000 concurrent viewers.
On the product level, Metersbonwe underwent a significant style shift. In an interview in October 2025, Zhou Chengjian admitted that the early over-emphasis on the outdoor category led to performance pressure. The company initiated adjustments in March of the same year, expanding its product line from a single outdoor focus to a multi-category matrix running four major styles in parallel: "Preppy, Commuter, Street Trend, and Outdoor." The essence of this adjustment is Metersbonwe seeking a balance between brand boundary-breaking and commercial implementation—the outdoor style is responsible for generating buzz and traffic, while the multi-category approach handles sales conversion and repeat purchases.
The supply chain side simultaneously initiated deep reforms. Facing historical inventory pressure, Zhou Chengjian partnered with Guizhou to establish a joint-venture textile company, attempting to achieve a flexible "small order, quick response" supply model through upstream integration and promoting a westward relocation of the supply chain to reshape cost advantages. By the end of 2025, inventory aged within one year accounted for over 70% of the total, with historical burdens largely cleared. In terms of stores, by the end of 2025, Metersbonwe's total offline store count rebounded to 775, a net increase of 168 for the full year.
However, store expansion did not simultaneously drive revenue growth. The annual report showed that Metersbonwe's full-year revenue for 2025 was only 450 million yuan, a year-on-year decrease of 33.86%, with a net loss attributable to the parent company of 249 million yuan, an expanded loss compared to the previous year. Online channels also faced pressure, with the highly anticipated e-commerce business also experiencing a decline. By the end of 2025, the company's asset-liability ratio climbed to 88.71%. Although operating cash flow turned positive to 39.2477 million yuan in the first quarter of 2026, the core business's "cash-generating" ability still requires continuous validation.
It is noteworthy that in this re-election, Metersbonwe simultaneously abolished the Board of Supervisors system, replacing its functions with the Audit Committee. The aim is to compress management layers and enhance decision-making efficiency in a crisis state. The subtext of this organizational restructuring is: in the current life-or-death phase, decision-making speed is prioritized over checks and balances, with all power to be concentrated in the founder alone.
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