August 12, 2020

BTG Group shares in Singapore Da Vinci Home

China BTG Group has decided to invest in Singapore Da Vinci Home and become the largest shareholder of the latter. Pan Zhuang Xiuhua, CEO of Da Vinci Home, declined to disclose the amount of capital invested by the BTG Group in an interview, but said that after the reorganization, the BTG Group will hold 33.8% of the company's shares, and the other shares of the company will be owned by the current chairman Pan Dongni and another The average Chinese entrepreneur has. She also said that after the reorganization, Liu Yi, general manager of the BTG Group, will take over the position of chairman of Da Vinci in January 2013 and will continue to serve as the company's executive president. Pan Zhuang Xiuhua revealed that the BTG Group intends to enter the hotel field with brand-name furniture as its selling point. Da Vinci has the exclusive agency rights of many European and American brand-name furniture in China and other countries and regions, and will play a bridge role for the BTG Group expansion plan. In addition, BTG Group and Da Vinci also intend to explore the creation of a new retail mall that combines designer fashion and furniture. BTG Group is one of the most comprehensive tourism service industry groups in China. Its business covers restaurants, hotels, transportation, travel agencies, commerce and scenic spots. Its member companies include Shouqi Group, Home Inns, Beijing Hotels, Yansha Friendship Shopping Mall, Xidan Shopping Mall, Quanjude, etc. Da Vinci's home was once controversial in July last year due to suspected origin and quality fraud, and the 2011 annual results showed a deficit. According to reports, Da Vinci's performance this year returned to 70% before the outbreak of the storm, from last year's deficit back to support level.

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