Meibang Zhou Chengjian Insufficient Manpower Management: Further Strengthening Supervision

The deputy general manager of Smith Barney was detained and transferred to the original "corruption loophole"

Last year today (December 17th), Li Jindai, who was only 32 years old, was appointed as the deputy general manager of the METERS/BONWE Brand Division by Mebon Clothing (002269, SZ).

On the day before Lee took office for one full year (December 16th), Meibang Apparel announced that due to the public security department's notice, Li Jindai, the company's deputy general manager, took advantage of his position in the company's store development, accepting bribes, and As a result of the damage caused by the interests, it was formally arrested on December 8, 2009 by the People's Procuratorate of Pudong New Area of ​​Shanghai, on suspicion of accepting bribes against non-state workers.

On the 16th of December, a high-ranking employee of Smith Barbour’s resignation said to reporters that Metersbonwe, which has shifted from a dealership model to a direct-operated one, has added a lot of space to market expansion personnel. Corresponding corruption has thus been fostered.

The deputy chief of the case was once a shareholder of Chongqing Meibang.

Prior to serving as the deputy general manager of the brand division, Li Jindai was the general manager of Metersbonwe Shanghai Sales Co., the general manager of Metersbonwe Chongqing Sales Co., and the regional sales director of Metersbonwe Co., Ltd. (Eastern District) , Regional Sales Director (Southern District) of Metersbonwe Fashion Co., Ltd.

“Li Jindai performed well in charge of sales in the Southwest.” According to informed sources, Li Jindai once held a 10% stake in Chongqing Meibang Garments. According to the Menbang Appraisal Prospectus, Chongqing Mebon was established around 2002. Initially, it was jointly funded by Wenzhou Group Corporation and Cheng Weixiong. The registered capital was 2 million yuan, of which Wenzhou Group invested 1.8 million yuan, accounting for 90% of the registered capital, Cheng Weixiong It contributed 200,000 yuan, accounting for 10% of the registered capital.

It is reported that Cheng Weixiong, one of the shareholders, was mainly responsible for the market sales of Chengdu and Chongqing at the time and later focused on sales in the northern region.

On May 30, 2003, Cheng Weixiong and Li Jindai signed the "Shares Transfer Agreement", and transferred 10% of its equity interest in Chongqing Meibang and 200,000 yuan in capital to Li Jindai.

"Incident" rental store links

It is worth mentioning that, with the failure of the "light asset" model headed by ITAT and PPG in China, Meibang Garments began to rethink the dealer model and instead use direct sales.

Peak CEO Xu Zhihua stated in an interview with reporters on December 16 that compared to the dealer model, the form of direct sales “will gain higher channel profits and have more control over each store.”

However, under the "light asset" model, the profitability of the subsidiaries across the country is not satisfactory.

According to the Maybank Appraisal Prospectus, in 2005, all of its subsidiaries suffered losses with an accumulated loss of 40,439,200 yuan. In 2006, Shenyang Meibang and Beijing Smith Barney began to make profits. Other subsidiaries still suffered losses, with an accumulated loss of 40,515,400 yuan; The subsidiary Nanjing Meibang also lost 2.6629 million yuan.

After the success of the IPO last year, the company began to rethink the adoption of direct marketing. “In addition to the need for large funds to expand the market, the difference between direct marketing and franchising lies in the need for more senior talent to lay channels, which requires a mature channel mechanism. ."

According to the above-mentioned informed sources, Li Jindai's “accident” was in the lease of stores, and this was exactly the occasion when the overall situation of the US state apparel was expanded. As of November 26, 2009, the company has purchased 6 stores, a total area of ​​29,000 square meters, a total of 785 million yuan in purchases of shops, and 856 million yuan in funds raised.

Zhou Chengjian: Inadequate human resources management

Li Jindai’s involvement in the case has led to speculation about the frequent mobilization of senior officials of MBL.

On August 21, Yangge, a deputy general manager of Meibang Apparel, submitted a written resignation, claiming that he had requested to resign from the post of deputy general manager of the company he held for personal reasons. The company’s board of directors reviewed the 14th meeting and agreed to its resignation application. Since its listing in August 2008, Meibang Apparel has successively retired senior executives such as Lu Xiaohu, a director of the company, and Chung Hing Hing, a director and chief financial officer.

Prior to this, Metersbonwe experienced six large-scale personnel fluctuations. Including the departure of five management teams in 1997, 19 managers left in 2002 and two vice presidents resigned in 2004. Speaking of these personnel turmoil, Messrs. Benjamin Zhou, the chairman of the company, once admitted that in the past 13 years, Smith Barney’s human resources have not done enough.

Meibang Apparel responds to deputy chief arrest: will further strengthen supervision

In response to the arrest of Li Jindai, deputy chief of Meibang Clothing, the board secretary Han Zhongwei said that the corresponding person has succeeded Li Jindai's work and will not affect the normal operations. He also said that the company will further strengthen supervision.

Meibang Apparel previously issued an announcement saying that the company informed the public security department that Li Jindai, deputy general manager of Shanghai Meibang Apparel Co., Ltd., took advantage of his position in the company's store development work, accepted bribery, and caused damage to the company's interests. The company was approved by the People's Procuratorate of Shanghai Pudong New Area. The alleged non-national staff accepting bribes was formally arrested on December 8, 2009.

Gao Song, deputy director of the general manager of Meibang Garments Co., Ltd., said: The case has already entered the public security inspection process and it is not convenient to make any comments. The announcement shall prevail.

"But Smith Baron absolutely does not allow such a thing to happen again. In the future, it will also strengthen internal supervision, especially prior supervision." Han Zhongwei emphasized.