Please view at Oak tree.
I have seen a very typical example company: Li Ning Sports.
During the peak, that’s pre-2008 China Beijing Olympics.
The company went to crazy in expanding to sell sporting products.
Indeed, it once became the domestic No.1. compared to Anta, 361 (ex. Adidas, Nike).
It just grew too greedy with cheap credit.
However, as soon as the economy cooled down, it dipped to hell.
Also, another impact came from the e-commerce.
When shit happens, everything becomes shit.