Per the CEO,
1) "The economic winter is making it difficult for some of our customers to conduct business and, as a result, we have seen a slowdown in the addition of Gold Supplier members (61% of revs), which may continue until next year.
2) “We see difficulties in four out of the 40 sectors we have: textile, metal, garment and construction services," said Mr Wei.
3) "It will be even worse in the second half."
I couldn’t have said it better myself. Margin expectations in apparel remain too high for the next 12 months.