Friday, December 2, 2011

Xingquan confident of continuing double digit growth, says CEO

KUALA LUMPUR (Dec 2): Xingquan International Sports Holdings Ltd is confident that it can maintain its double digit growth in revenue for FY12 ending June 2012, said its chief executive officer Wu Qingquan.

Speaking after the company's third AGM on Friday, Wu said its compound annual growth rate from 2006 to 2011 was 39%.

'Based on the recently concluded spring and summer sales order, we got about a 10% increase in sales order from our distributors,' he said.

On its expansion plans, Wu said its immediate target was to add another 200 sales outlet in China from 2300 outlets currently, for its outdoor casual wear brand, GERTOP.

Wu said it will spend about RMB25 million in subsidies for the 200 sales outlets.

Wu added that Xingquan will its expand production capicity for outdoor shoes by 20% to 30 million pairs of shoes from 24 million pairs of shoes currently.

Moving forward, Wu expects its apparel division to be the main driver in revenue for the company.

In FY11, apparels contributed to 28% to Xingquan's revenue, while shoes (40%), and soles (19%).

Xingquan is involved in manufacturing of shoes and shoe soles, and the sale of shoes, shoe soles, apparels and accesorries. Its main products are outdoor sports shoes and apparels.

Xingquan became the first conmpany from China to be listed on Bursa on July 10, 2009.


No comments:

Post a Comment