Core Viewpoint - Gao Xin Retail (06808) experienced a decline of over 4%, trading at HKD 1.89 with a transaction volume of HKD 17.07 million, amid news regarding the investigation of its operations director, Guan Mingwu [1] Group 1: Company Operations - The company confirmed that Guan Mingwu is under investigation, emphasizing its commitment to legal and compliant operations with zero tolerance for violations [1] - Following Alibaba's announcement in January 2025 to sell its approximately 78.7% stake in Gao Xin Retail to Dehong Capital, significant management changes were implemented, including the departure of Alibaba personnel and the resignation of founder Huang Mingduan as chairman [1] - Dehong Capital has restructured the company by consolidating five operational regions into four: East China, South China, North China, and Northeast China [1] Group 2: Financial Performance - The company has closed underperforming stores and optimized its workforce, resulting in a reduction of sales and marketing expenses by HKD 2.946 billion to HKD 15.232 billion year-on-year for the fiscal year 2025 [1] - Administrative expenses decreased by 24.1% to HKD 1.709 billion [1] - The company is also advancing product strategy adjustments as part of its reform initiatives [1]
高鑫零售午前跌超4% 大润发高管近日被查 德弘入主后持续推进战略调整