en.Wedoany.com Reported - On May 21, Youngor Fashion Co., Ltd. convened the first meeting of its 12th Board of Directors, electing Li Hanqiong as Chairwoman of the 12th Board of Directors and appointing her to continue serving as the company's President. According to the company's articles of association, Li Hanqiong will serve as the legal representative of Youngor, thus completing the handover of the core management of the new board.
This leadership change is a focal point in the adjustment of Youngor's governance structure and business focus in recent years. The annual shareholders' meeting held on May 21 completed the board换届, with Li Hanqiong elected as a non-independent director of the 12th Board of Directors; the new board immediately elected her as Chairwoman with 9 votes in favor, 0 against, and 0 abstentions, and appointed her as President. 21st Century Business Herald reported that founder Li Rucheng did not appear on the list of non-independent director candidates for the new board. Li Hanqiong transitioned from Vice Chairwoman and President to Chairwoman and President, with her succession path moving from management participation to full leadership. For this established consumer enterprise that started with menswear, the significance of the generational handover lies not in the change of identity itself, but in whether the new management can translate the repeatedly emphasized fashion core business, brand rejuvenation, multi-brand matrix, and investment contraction into performance recovery.
Li Hanqiong did not enter the core position on a temporary basis. Public reports show that she was born in 1977, joined Youngor's board of directors in 2011, and subsequently served as General Manager, Vice Chairwoman, and President, participating in the listed company's operation and management for a long time.
The key pressure Youngor currently faces comes from the repricing of its three major business segments. The company's 2025 annual report shows that Youngor's core business is the fashion industry centered on branded apparel, with other businesses including real estate development and investment; in 2025, the company achieved operating revenue of 11.582 billion yuan and net profit attributable to shareholders of the listed company of 2.447 billion yuan, representing year-on-year decreases of 18.37% and 11.57% respectively. The fashion segment's revenue was 7.433 billion yuan, a year-on-year increase of 9.33%, but its net profit attributable to the parent company was 95.9309 million yuan, a year-on-year decrease of 77.75%; the real estate business's pre-sale revenue from remaining projects was 956 million yuan, a year-on-year decrease of 68.46%, with an annual loss of 106 million yuan; the investment business continued to advance structural adjustments, exiting 4 financial investment projects, recovering 7.714 billion yuan in cash through share reductions, and achieving a net profit attributable to shareholders of the listed company of 2.471 billion yuan for the full year. This structure indicates that while Youngor's core apparel business still possesses revenue scale and brand foundation, its profit contribution is clearly under pressure, and the investment segment still serves as the main profit support.
The difficulty in returning to the core business has shifted from "whether to do apparel" to "how to make apparel contribute stable profits again." The annual report disclosed that Youngor's main brand, YOUNGOR, is accelerating its transformation, adjusting its product structure, and increasing the layout of outdoor leisure series, alleviating the decline pressure on core categories like shirts and suits through the growth of major items such as down jackets and knitwear series; the company completed the acquisition and integration of the BONPOINT brand, with multiple brands achieving a combined operating revenue of 1.627 billion yuan, increasing their proportion to 24.54%. On the channel side, Youngor had a total of 1,884 directly operated stores at the end of the reporting period, a net increase of 13, among which shopping mall and outlet locations saw a combined net increase of 68, while self-operated and department store locations saw a combined net decrease of 55; 140 stores were expanded or adjusted, with a total operating area of 558,600 square meters at the end of the period, a net increase of 49,700 square meters. The average store efficiency of newly opened stores increased by 21.74% year-on-year, and the average store efficiency of adjusted stores increased by 7.10% year-on-year. The tasks corresponding to these actions are clear: the main brand needs to extend from traditional business menswear to broader scenarios, the multi-brand portfolio needs to cater to young customer groups and high-end lifestyle customer groups, and the store structure needs to shift from traditional channels to shopping malls, outlets, and multi-scenario experiences.
Youngor's brand equity still exists. The annual report states that the company's predecessor was the "Youth Garment Factory" established in 1979, and it has established a relatively complete product R&D and technological innovation system; according to the statistical results of Chinese market commodity sales released by the China National Commercial Information Center, Youngor men's shirts have ranked first in comprehensive market share for similar products for 29 consecutive years, and men's suits for 26 consecutive years. The company is simultaneously deploying seven major brands—YOUNGOR, MAYOR, HANP, MAISON CORTHAY, UNDEFEATED, HELLY HANSEN, and BONPOINT—across fields such as business casual, sports outdoor, children's wear, streetwear, and lifestyle. After Li Hanqiong takes over, Youngor needs to transform these brand resources, supply chain capabilities, and channel adjustments into clearer consumption scenarios and a more stable profit recovery curve.
China's Youngor completing the succession with Li Hanqiong taking the helm signifies that this veteran apparel enterprise has entered the execution phase after the governance handover. The growth in fashion core business revenue alongside declining profits, the strong profitability of the investment business, and the real estate business still in the final stages of adjustment—these three lines collectively constitute the first test for the new management. Whether the return to the core business can yield sustained results will determine the speed and quality of Youngor's transition from a "clothing brand + investment income" structure to the operation of a fashion conglomerate.
This article is compiled by Wedoany. All AI citations must indicate the source as "Wedoany". If there is any infringement or other issues, please notify us promptly, and we will modify or delete it accordingly. Email: news@wedoany.com
