The deputy general manager of Smith Barbill received bribery arrested store expansion is not affected

Meibang Apparel announced on the 16th that senior executives had been arrested: Li Jindai, deputy general manager of the company, had been arrested according to law for taking bribes. The company stated that it has arranged for personnel to represent its work and this matter will not have a major impact on the company. From the company's recent actions, the rapid expansion of the momentum of the Meibang apparel will continue to maintain.

Deputy General Manager arrested

According to an announcement released on May 16, the company’s deputy general manager Li Jindai took advantage of his position in the company's store development work, receiving bribes, and damaging the company’s interests. He was approved by the Shanghai Pudong New Area People’s Procuratorate for suspected non-state workers. The crime of bribery was formally arrested on December 8, 2009. The company received this notice from the public security department on December 15.

According to statistics, Li Jindai is 33 years old, a Chinese national, and a bachelor's degree. He was appointed as the deputy general manager of the company on December 17, 2008 at the 9th meeting of the first session of the board of directors of Smith Barney. The term of office was three years. By December 17, 2011, the annual salary was 723,200 yuan.

In terms of his resume, Li Jindai’s main responsibility is sales. Before that, he was Deputy General Manager of the Brands/bonwe Brand Division and Director of the Southern District Sales Management Center. After this appointment, he is still part of the Meters/bonwe brand business. Deputy General Manager. Earlier, he served as general manager of Metersbonwe Shanghai Sales Co., Ltd., general manager of Metersbonwe Chongqing Sales Co., Ltd., regional sales director of Metersbonwe Co., Ltd. (Eastern District), Metersbonwe. Clothing Sales Co., Ltd. Regional Sales Director (Southern District) and other duties.

Store expansion is not affected

Meibang Apparel stated in the announcement that relevant management personnel have been arranged for the temporary management of its daily work. The company's production and operation are currently normal.

Li Jindai was arrested because "in the company's store expansion work" to accept bribery, from the standpoint of the state's apparel, this matter will not have a major impact on the company, the rapid expansion momentum of Smith Barney apparel this year will be maintained.

According to the semi-annual report of 2009, from January to June this year, Smithsdale used a total of 310 million yuan to raise funds for the purchase and rental of stores, and added 36 new stores. As a result, the number of direct-operated stores increased from 412 at the end of 2008 to 448. Home, the growth rate is 8.7%. In terms of zoning areas, there is an increase in the market from east to west, north, south and south, but the revenue growth in the Southern District is the fastest year-on-year, reaching 32.12%.

Although store expansion has increased the company's cost burden and has swallowed some of the performance to a certain extent, the industry believes that the newly built direct-operated stores in the next 1-2 years will begin to contribute revenue to the company. As of the end of June this year, the company still had 810 million yuan to raise funds that were not used, most of which will be used for store expansion. On November 11, the company also issued an announcement saying that the company had used its raised funds to open stores in five cities including Wuhan, Hangzhou, Ningbo, Qingdao and Lijiang.

At the same time, regarding the apprehension of Li Jindai, deputy chief of Meibang Clothing, the board secretary Han Zhongwei also said in a dialogue with Sina Finance that there are corresponding people who have succeeded Li Jindai’s work. The company’s operations and internal control mechanisms are sound and will not affect the normal operations. , and said the company will further strengthen supervision.