Dahua indicated that the relevant requirements are aggressive and may cause more changes in management. It is believed that Giordano's stock price will fluctuate more in the short term.
The Zhitong Finance App learned that Dahua Jixian released a research report stating that it maintains Giordano International's (00709) “buy” rating, with a target price of HK$3.7. Sino Wealth, the company's largest single shareholder, requested the holding of a special shareholders' meeting, proposed the removal of Chairman and CEO Liu Guoquan, and the appointment of multiple directors. The bank said that the requirements are aggressive and may cause more changes in management. It believes Giordano's stock price will fluctuate more in the short term.
According to the report, Liu Guoquan joined the group in 1987 and became its chairman in 1994. Sino Wealth proposed CEO Currie, Colin Melville Kennedy. He was the managing director of Adidas in Hong Kong and the general manager of Asia Pacific and Greater China, and has 16 years of experience at Adidas. As for the proposed non-executive directors, Zheng Zhiwen and Zheng Zhiliang are members of the Cheng Yu Tung family. Zheng Zhiwen is the vice chairman of Chow Tai Fu (01929), and Zheng Zhiliang is the executive director of Newly Established Group (00659).