Baby Tree Denies Layoff Rumors Share Prices Have Dropped 4%
On September 24th, a few days ago, the baby tree was exploded to start layoffs. The number of layoffs was close to 30% of the total number of people. Among them, the technical team was 50% higher, and the content operation group was 30% higher. Wang Huainan, founder and CEO, has left the management team to join the US electronic cigarette business.
In response, the baby tree responded, "as the chairman and CEO of the baby tree group and chairman of the board, Wang Huainan is responsible for the strategic development and business management of the baby tree, and is committed to creating long-term value for the users and investors of the baby tree. There is no plan to work in any other company and never sell the baby tree stock."
As for the rumors of downsizing, the baby tree said: the company will have normal talent flow in the organization upgrading with the development of the business, and large-scale layoffs are not true. At present, the company is actively attracting advanced talents in technology, business and other fields.
According to media reports, the baby tree was founded in 2007 and was listed on the Hong Kong Stock Exchange in November 2018. Its opening price is HK $6.91, and its market value is HK $11 billion 532 million. Wang Huainan once said that the market value was obviously underestimated. At the end of the year, the price of baby tree was HK $2.11 and its market value was HK $3 billion 563 million.
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