Before the market opened on July 10, Chinese menswear brand LILANZ (China Lilang Limited, stock code: HK1234) listed in Hong Kong, announced its latest operational performance for the second quarter and the first half of 2024. Compared to the same period in 2023:
- In the second quarter, LILANZ’s retail sales recorded mid-single-digit growth.
- In the first half of the year, LILANZ’s retail sales recorded mid to high single-digit growth.
According to the operational performance released in April for the first quarter of 2024, LILANZ’s retail sales recorded high single-digit growth compared to the same period in 2023.
In the first half of this year, LILANZ’s stock price rose from HKD 4.07 per share to HKD 4.62 per share, an increase of 13.5%, with a current market value of approximately HKD 5.1 billion.
In the first half of this year, LILANZ made new progress in products, channels, branding, and social philanthropy:
- In January, LILANZ’s sub-brand LESS IS MORE announced actor Xu Kai as its brand ambassador. In April, LESS IS MORE teamed up with brand experience officer Bao Shi Gem to appear at the Zhengzhou Shanshan Outlet brand meeting.
- In January, LILANZ released its 2024 Spring/Summer theme series. In February, LILANZ launched the 2024 Spring SMART Elite Suit and released an advertisement campaign. In April, LILANZ pioneered the launch of washable polo shirts, upgrading the craftsmanship to be machine washable.
- In April, LILANZ opened its first flagship store in Northeast China at Shenyang Zhongxing Commercial Building.
- In an event in April hosted by National Geographic Magazine and co-sponsored by LILANZ and Anta, was launched in Zhangye City. The exploration team will start from Zhangye, following the historical overland trade route connecting the Chinese Mainland to Europe, crossing Central Asia, and visiting Turkey and Greece before reaching Paris. In the same month, LILANZ participated in the first Science and Technology Achievement Transformation Matching Conference in Jinjiang, setting up the exhibition hall to showcase achievements in intelligent manufacturing, green environmental protection, and exceptional products.
- In May, LILANZ staff and teachers from the Adream Development Center visited Yuncheng, Shanxi, to gain a firsthand understanding of the impact and benefits of a course they’d contributed in for children. In 2022, LILANZ launched a five-year philanthropy plan in collaboration with the Shanghai Adream Foundation to develop the course for the youth.
Additionally, in the first half of this year, LILANZ announced a series of board changes, effective from February 5, 2024:
- Wang Junhong was appointed as Executive Director.
- Wang Zhiyong was appointed as Executive Director.
- Lv Hongde resigned as Independent Non-executive Director and member of the Audit Committee and Nomination Committee.
- Liao Jianwen was appointed as Independent Non-executive Director and member of the Audit Committee and Nomination Committee.
- Jiang Zhan was appointed as Independent Non-executive Director and member of the Audit Committee and Nomination Committee.
| Source: LILANZ Announcement
| Image Credit: LILANZ
| Editor: LeZhi
