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负债25亿跑路美国,妻儿住4000平海景豪宅,2万股民血本无归
Sou Hu Cai Jing· 2025-07-11 01:02
Core Viewpoint - The news highlights the downfall of Modern Avenue, once a leading men's clothing brand in China, due to financial mismanagement and fraudulent activities by its founder, Lin Yongfei, leading to significant losses for investors and the company's eventual delisting from the stock market [1][5]. Company Overview - Modern Avenue, known for its Italian-style men's clothing brand "Kanudilu," was founded by Lin Yongfei in the 1990s and initially thrived by capitalizing on the demand for foreign brands in China [1][3]. - The company went public in 2012, reaching a market value of over 6 billion yuan and operating 318 stores with a net profit of 107 million yuan [3][4]. Financial Mismanagement - The company faced severe financial difficulties starting in 2016 due to the rise of e-commerce and competition from fast-fashion brands like Uniqlo and Zara, leading to monthly losses exceeding 1 million yuan [3][4]. - Lin Yongfei attempted a risky transformation by acquiring an internet platform for 490 million yuan, which resulted in a loss of 287 million yuan within a year due to a lack of e-commerce experience [4]. Fraudulent Activities - From 2018, Lin Yongfei engaged in fraudulent activities, including guaranteeing 1.47 billion yuan for related companies and hiding significant losses from the company's financial reports [4]. - The company reported a massive loss of 1.47 billion yuan in 2019, and investigations revealed serious financial fraud, including inflating inventory values and concealing losses from investments [4]. Legal and Financial Consequences - Following the exposure of these fraudulent activities, Lin Yongfei resigned and fled to the U.S., leaving behind debts of 2.26 billion yuan for the company [4][5]. - The stock price plummeted from a peak of 18 yuan to 0.7 yuan, resulting in significant losses for 24,000 investors, leading to a collective lawsuit [5][7]. - The Shenzhen Stock Exchange initiated a forced delisting process in July 2025 due to the company's inability to recover misappropriated funds [5][6].