Prepared by ChinaScope Financial | Source:Securities Daily
- It is reported that Xtep (China) Co., Ltd., the parent company of Xtep International Holdings Ltd. (01368: HKG), had planned to relocate some departments of its Guangzhou-based subsidiary to Xiamen. As a result, more than 40 employees decided to leave the company and asked Xtep to pay their overtime rates. Sources said Xtep need to pay a total of CNY 3.3 million (CNY 1.5 million overtime pay and CNY 1.8 million employee social insurance expenses).
- The staffers and Xtep have agreed to dissolve the problem via lawsuits.