China Dongxiang Announces Resignation of Chief Operating Officer, Executive Director and Member of Executive Committee and Appointment of Executive Director and Member of Executive Committee
(4 December 2014, Hong Kong) - The leading international fashion sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Company"; HKEx stock code: 3818, together with its subsidiaries the "Group") announced today that Mr. Qin Dazhong ("Mr. Qin") has tendered his resignation as the Chief Operating Officer, Executive Director and member of the executive committee due to his decision to devote more time to his personal commitments. Subsequently, Ms. Chen Chen will be appointed as the Executive Director and a member of the executive committee, all with effect from 4 December 2014. Mr. Qin is expected to continue in his present position until March 4, 2015 to ensure a smooth transition.
Ms. Chen joined the company in 2012 and is primarily responsible for overseeing the marketing and design of Kappa products of the Company. Ms. Chen served as product planning representative in the apparel planning team of the Company from 2012 to 2013. She was promoted to manager of marketing department and apparel design department and vice president of the Branding department in 2013. Ms. Chen has played a vital role in efforts to re-innovate the Company's apparel products and marketing promotion during her tenure. She also gained in-depth understanding and unique insights in both strategic level of the Group and the entire apparel industry. Under the leadership of Ms. Chen, the marketing department and the apparel design department achieved outstanding performance in both business and product innovation, and these achievements was highly recognized by the Board and team members. Ms. Chen graduated from University of the Arts - London College of Fashion with a Bachelor's degree in Fashion Design Technology - Surface Textiles in 2010. The professional background in apparel has given her acute awareness in fashion trends and direction.
Mr. Chen Yihong, Chairman, Chief Executive Officer and Executive Director of China Dongxiang, said, "As one of the founders of China Dongxiang, Mr. Qin has played an important role and made tremendous contributions in different historical moments of the Group, namely from founding the Company, transformation, acquisition, fund raising to taking the Company public. Though I was reluctant, as the leader of the Group, I have to support the decision of each member as they pursue their own personal exploration and I believe that he will be able to unveil a new page and attain a new height in his life. In recent years, in spite of the challenging macro-environment, the Group has united together and spent vigorous efforts in adhering to the path of reform and innovation. Through a series of effective adjustments, we achieved certain results not only in our core business but also in our investment business and demonstrated a booming trend. Overall, despite the rugged road ahead, the prospect is bright and prosperous. China Dongxiang will continue to adhere to our commitment to being an ethical, forward looking and rewarding enterprise."
Mr. Qin said, "In order to devote more time in pursuing my personal commitments, I had to bid farewell to team members with whom I have worked with for twelve years. Though it was a difficult decision, I believe that under the leadership of Mr. Chen Yihong and Ms. Chen and with the wholehearted support from Dongxiang team, the Company will always adhere to its commitment to shareholders and bring China Dongxiang to further distance with highest degree of sincerity and diligence."
Ms. Chen said, "China Dongxiang has gained good results in its reform and innovation breakthrough in recent two years. During my future tenure, together with the Board and other senior management, we will fully demonstrate the enterprising spirit of Dongxiang team in bringing the Group to achieve further success in reform and innovation."
About China Dongxiang (Group) Co. Ltd.
China Dongxiang (Group) Co., Ltd. (HKEx: 3818) is a leading international sportswear brand enterprise in China and was successfully listed on the Main Board of the Hong Kong Stock Exchange on 10 October 2007. The Group is primarily engaged in the design, development, marketing and wholesale of branded sportswear in China. Currently, China Dongxiang owns all rights to the internationally renowned Kappa and Robe Di Kappa (RDK) brands in China, Macau and Japan. Its products convey an active, fashionable and youthful image that are welcomed warmly by China's fast growing and high potential consumers. The Group completed the acquisition of a Japanese sportswear enterprise, Phenix, on 1 May 2008. Phenix is the most popular ski brand in Japan with the largest market share, which has gained strong recognition in the international market.