China Dongxiang Announces Completion of Shares Acquisition by its Management Increasing Shareholding Demonstrates Strong Confidence in Future Prospects
(9 May 2018 - Hong Kong) The leading international sportswear brand enterprise in the PRC, China Dongxiang (Group) Co., Ltd. ("China Dongxiang" or "the Company", together with its subsidiaries, "the Group", HKEx stock code: 3818) is pleased to announce that the Group’s management personnel and connected persons have acquired an aggregate of no less than 19,370,000 shares of the Company at their own costs pursuant to the terms of the Management Subscription Agreements and the Subscription Agreement. Please refer to the latest announcement for the latest shareholding structure of the Company.
Mr. Zhang Zhiyong, Executive Director, Chief Executive Officer and President of China Dongxiang, said, “The acquisitions of the Group’s shares by management clearly demonstrates the strong confidence of our core management team in view of the Company’s prospects and their optimistic outlook for the Group’s future performance.”
About China Dongxiang (Group) Co., Ltd. (Stock code: 3818)
China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise in China which has been listed on the Main Board of the Hong Kong Stock Exchange since 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 brand in China, Macau and Japan. On 1 May 2008, China Dongxiang completed the acquisition of PHENIX, a Japanese sportswear enterprise. PHENIX is the most popular ski brand in Japan with the largest market share, as well as a well-known brand in the international market.
Issued by Cornerstones Communications Ltd. on behalf of China Dongxiang (Group) Co., Ltd.. For further information, please contact:
|China Dongxiang (Group) Co., Ltd.
Investor Relations Department
|Cornerstones Communications Ltd.|
|Christina Low / Erin Su||Yesan Ma / Sharis Siu|
|Tel: (86) 10-6783 6585||Tel: (86) 10-6783 6585|
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