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Jumat, 18 Januari 2019 08:44:00

China Dongxiang Achieves Growth in Retail Performance and Same-Store-Sales for 4Q2018

HONG KONG, CHINA, - 17 January 2019 - 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) announces operational data for the fourth quarter of 2018 (4Q2018).

In 4Q2018, the retail performance of Kappa stores (excluding Kappa Kids business and Japan business) for the overall off-line platform recorded a high single-digit growth YoY, while the same store sales reported a low-single digit increase year-on-year ("YoY").

Mr. Zhang Zhiyong, Executive Director, CEO and President of China Dongxiang, said, "The Group's performance in 4Q2018 was in line with the management's expectation. The newly added distributors in the first half of last year, together with the direct-franchise model, contributed to the net increase in the number of Kappa stores while ensuring sufficient product supply, which resulted in positive retail sales growth. With the reform measures on distributors almost completed, we will further optimise the structure of retail channels, manage and control our products in a more effective manner to accelerate turnover in channel inventory in the future. We believe that the Group will benefit from a variety of initiatives implemented in distributors, channels and products, bringing significant achievements in operational performance." (*).

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