In May 27th, it announced the announcement of the company's president, executive director and major shareholder Ding Wu through its wholly owned Invest-holding Company, Ding's International Limited company, to increase its shareholding for the company.

Ding international has acquired 2692000 shares of the company's shares in the The Stock Exchange of HongKong Limited on May 23, 2019 and 24, with an average price of HK $1.33 and HK $1.36 per share respectively.

The total cost of Ding's international payment is about HK $3 million 700 thousand.

After Ding's international takeover of the shares, Ding Wu increased its shareholding to 342758332 shares through Ding international, equivalent to about 16.58% of the total issued share capital of the company in May 27th.

According to the 2018 earnings report, revenue reached 5 billion 187 million yuan, an increase of 0.57% over the same period last year, a gross profit of 2 billion 106 million yuan, a decrease of 2.34% over the same period last year, and a profit of 304 million yuan for shareholders, a decrease of 33.51% over the same period last year.

Since 2019, the stock price has fallen by more than 12%.

It is reported that 31st degree has opened the brand remolding strategy.

In a notice, the company said that the Board believed that Mr. Ding's holdings of the company's shares reflected his confidence in the company's prospects.