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VGRASS

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2018

    VGRASS Insider Trading Before Teenie Weenie Deal: 4 Fined Up to RMB 1.2 Million; Over RMB 700 Million Impairment Later

    VGRASS acquired Korean E-Land Group's Teenie Weenie brand in 2017. Before the acquisition announcement, four individuals used inside information to trade its shares and were penalized by the CSRC, with the highest individual fine at RMB 1.2 million. The acquisition created about RMB 2.5 billion in goodwill; in 2020, over RMB 700 million in goodwill and intangible asset impairments led to a huge loss of RMB 624 million. Progress: administrative penalty. Entity involved: VGRASS Fashion Co., Ltd. (now Jinhong Group). Scope: M&A and insider trading.

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