The share sale by Gao Feng, ex chairmman, has been effected. Finally.... He must be smiling all the way to the bank ---> sold at 47.4 cents. Now share price is 32.5 cents.
abb, according to recent Hurun survey, overall luxury spending is down 15% compared to previous year. It affects a lot of luxury brands from cars, jewelry, handbags, and of course baijiu. Even the mighty Moutai drops to 14th on the list of favorite brand for gifting. (source:
www.jingdaily.com/luxury-gifting-by-chin...plummets-25-percent/
).
There might be sales bump during the lunar new year but personally i expect short term result will not be so good, however i am still holding on to my Dukang stocks because Dukang is still pretty cheap, the brand name is valuable, and spending should recover in the future (not sure how far in the future though :lol:). The risk is of course whether Dukang can withstand the current crisis long enough until it recovers