Eslite Spectrum announces quitting Shenzhen market at the end of 2020

Eslite Spectrum Shenzhen announced on its official WeChat account that its store in Shenzhen City’s Mixc World shopping mall would be closed on December 31, 2020, due to the severe impact from the coronavirus epidemic.

Eslite Spectrum Shenzhen announced on its official WeChat account that its store in Shenzhen City’s Mixc World shopping mall would be closed on December 31, 2020, due to the severe impact from the coronavirus epidemic.

It has reached a friendly agreement with the landlord China Resources Group or CR Land, and the currently operating location will be returned to CR Land in 2021.

Eslite Spectrum Shenzhen Store is a wholly-owned subsidiary of Eslite Spectrum Corporation, a listed company in Taiwan, China.

The store was opened on December 15, 2018 in the Mixc World, located in Nanshan District, Shenzhen, which was Eslite’s 48th store at the time, and the second store in the mainland China outside of Suzhou City.

The annual report shows that Eslite Spectrum has a drop in profits by 163 million yuan in 2019.

Besides, the total debt of its Shenzhen Store reached 1.744 billion yuan, with a total of assets worth 1.724 billion yuan, the operating income 290 million yuan, the operating profit -28 million yuan, and profit and loss after tax for the current period -67 million yuan.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/07/eslite-spectrum-announces-quitting-shenzhen-market-at-the-end-of-2020/.

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