China

It is reported that the shoe brand XTEP recently held an annual dealer and agent gathering in Xiamen, Fujian, and held the third quarter product procurement meeting. After the meeting, He Ruibo, executive director and chief financial officer of the company, said that the XTEP TDR of China was listed on the market and was approved by the Taiwan authorities in December 27, 2010.

He estimated that in accordance with the listing plan and progress, it is expected that the listing action will be completed before the end of March.

He Ruibo pointed out that the TDR listing in Taiwan is expected to raise 100 million US dollars, of which 50 million US dollars are invested by the investment company Carlyle institution, and the other 50 million is IPO (initial public offering) by issuing new shares.

XTEP's TDR is listed on the Taiwan Stock Exchange. According to the company's plan, it will open up the market of the company in addition to setting up a market in Taiwan, and plan to take the Taiwan market as the springboard and touchstone for XTEP to expand the global market.

He Ruibo said XTEP will set up a branch in Taiwan and is expected to open in the first half of this year, which will be the first Chinese enterprises to sell shares in Taiwan and set up branches.

It is understood that XTEP company currently set up 1 counters in Taipei's west gate, and He Rui Bo estimates that the future set up counters and stores in Taiwan, at least every year at the speed of 10~15, set up new strongholds.

In addition to the establishment of a direct store by the company, the exhibition will be open to the Chinese or join.

Initial sales will be supplied by China.

XTEP international has traded on the Hongkong stock exchange in June 3, 2008, and Taiwan will become the second market of the company.

XTEP products, with China's leading sports brand as its focus, now has nearly 7000 sales bases in 31 provinces and municipalities throughout China.

In the first half of 2010, the company's revenue in the first half of the year was 2 billion 42 million yuan, an annual increase of 22% and a surplus after tax of 374 million yuan. The market legal person estimated that the annual turnover would have an opportunity to reach 4 billion 500 million yuan, and the surplus after tax was estimated at RMB 800 million yuan.