China’s leading textiles enterprise Youngor Group announced it sold 4.18 billion RMB ($574 million) worth of financial assets over the past year, including stakes in Citic and China Citic Bank Corporation. Since 2020, the company has liquidated over 10.5 billion RMB ($1.45 billion) in investments. Once active in real estate and finance, Youngor began scaling back non-core businesses in 2019 to refocus on apparel. Despite expanding its fashion footprint through acquisitions like Bonpoint, the company faces declining profits for four consecutive years.