Zhuangji Group wants to build a brand discount store with the United States

Want to build a brand discount store with the United States
Zheng Yuanzhong, chairman of Zhuangji Group, stated that Zhuang Ji Group’s core business is still dominated by clothing. However, due to fierce market competition, it is believed that the future of the garment industry will be difficult and the future will focus on the development of diversified businesses. The group plans to jointly invest 200 million U.S. dollars (approximately 1.56 billion Hong Kong dollars) with a U.S. company and establish a "Zhuangji Outlet" brand discount store in the famous Yandang Mountain Scenic Area. It will mainly sell clothing and broken brand clothing in the world. Last year, the group began to invest in research and development of women's, leather shoes, ties, and other products.

Five-star hotel built into tourism

In addition, the Zhuang Ji Group intends to engage in new businesses unrelated to the apparel business and plans to build a five-star hotel and self-driving travel center. Zheng Yuanzhong explained that he was involved in the tourism industry because he was optimistic about the “Global Geopark” at Yandang Mountain and the lack of parking space in Wenzhou. Therefore, he believes that the new business will have good development prospects; at the same time, he plans to spend tens of millions of yuan to establish related to the environmental protection industry. The subsidiaries are involved in the environmental protection business.

Zheng Yuanzhong also disclosed that Zhuang Ji Group, a branded apparel company in Wenzhou, Zhejiang, who is the chairman of the company, is preparing to list in Hong Kong within two years.

At present, lawyers and accounting firms in Zhejiang Province have been entrusted with pre-listing counseling. It is estimated that the internal financial and regulatory work will be completed by the end of this year and it is expected that it will be listed in Hong Kong in early 2007. He said that listing in Hong Kong was mainly due to the relatively standard and mature Hong Kong capital market.