Market Insight | Giordano International Surges Over 9% as David Webb Increases Stake to 5%

Bosideng International surged more than 9%, as of the time of publication, it rose by 8.94% to HKD 1.95, with a turnover of HKD 13.4242 million. On the news front, Bosideng International recently announced that in the first quarter, the group's revenue fell slightly by 1.1% year-on-year, partly due to the ongoing store consolidation cycle in the Greater China region in an unstable business environment. In addition, the unusually cold weather in the region also led to relatively sluggish sales performance. Quarterly same-store sales performance remained stable, increasing by 0.7%. Inventory balance decreased by 14% year-on-year to HKD 491 million. In addition, the latest information from the Hong Kong Stock Exchange shows that independent stock analyst David Webb increased his holdings of Bosideng International by 224,000 shares on April 16, with an average price of HKD 1.9145 per share, involving HKD 428,800. After the increase, his latest shareholding ratio rose to 5%. Bosideng previously held a special shareholders' meeting, where major shareholder Zhou Dafu Enterprises successfully removed Chairman and CEO Liu Guoquan and appointed Zheng Zhiwen and Zheng Zhiliang to join the board of directors