Weiqiao Textile “Shuai Yin” Yi advocates Hongxia as the new chairman


Weiqiao Textile (2698.HK) announced yesterday that due to the redeployment work, the company's executive director and chairman Zhang Bo officially resigned from his position in the company yesterday, and his chairmanship will be replaced by Zhang Hongxia, the company's current executive director and general manager.
Zhang Bo said at the performance briefing yesterday that he resigned from the company's position mainly because he would be transferred to the parent company to develop a new non-textile business, and he himself would join the parent company's board of directors. At present, Shandong Weiqiao Venture Group Co., Ltd. holds 56.85% of Weiqiao Textile's equity and is its largest shareholder.
Weiqiao Textile is principally engaged in the production, sales and distribution of cotton yarn, grey cloth and denim. It is the largest cotton textile manufacturer in China. In the first half of this year, the company achieved a turnover of 9.264 billion yuan, an increase of 34% over the same period of last year; net profit was 605 million yuan, an increase of 27.3%.
Yesterday, Zhang Hongxia, the new chairman of Weiqiao Textile, said that the company's goal this year is to achieve double-digit growth in annual turnover and earnings, as the company continues to concentrate on producing high-end products.

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