Bosideng's Chairman Increases Stake by 6.89 Million Shares at HK$8.14 Million
Cast a Vote of Confidence to the Group's Rapid Growth and Promising Prospects
[27 March 2008, Hong Kong] - China's largest down apparel company Bosideng International Holdings Limited ("Bosideng" or the "Company"; stock code: 3998, together with its subsidiaries the "Group") announced share purchase made by its Chairman and CEO, Mr. Gao Dekang. Mr. Gao increased his equity interests in Bosideng by purchasing 6,888,000 shares at an average price of HK$1.18 per share on 20 and 25 March 2008, with total consideration of approximately HK$8.14 million. Effective equity interest of Mr. Gao after the purchase of shares is 65.99%.
Commenting on the increase in equity stake, Mr. Gao Dekang said, "We are very confident of the development of the down apparel industry in China and hold positive outlook to Bosideng's future development. Being China's largest down appeal enterprise, we have been a market leader consecutively for over a decade. We've been a trendsetter in the China down appeal industry and enjoyed rapid growth along with industry development. With the robust economic development in China, the demand for high quality down apparel with unique designs has been rising. Our reputable Bosideng brand, coupled with our superior design, put us in a perfect position to capitalize on opportunities in this fast growing market. To further enhance our product mix, we are actively developing all year round non-down products that are less sensitive to seasonal change. Seeing the promising outlook, I have casted a vote of confidence to Bosideng's future development. Going forward, we are committed to seizing market opportunities to enhance shareholder value, thereby turning a new leaf in Bosideng's corporate history."
Bosideng is the largest down apparel company in the PRC. Its retail distribution network comprises approximately 7,000 retail outlets covering 67 cities across the nation, selling its six core brands including "Bosideng", "Snow Flying', "Kangbo", "Bingjie", "Shuangyu" and "Shangyu". According to China Industrial Information Issuing Centre ("CIIIC"), in terms of sales in 2006, "Bosideng", "Snow Flying" and "Kangbo" down apparel products achieved a combined market share of 36.1% among the 30 largest brands in the PRC. "Bosideng" was the leading down apparel brand in the PRC for 12 consecutive years from 1995 to 2006, according to the Information Issuing Center of the National Bureau of Statistics of China. The "Bosideng" brand was named one of "China's Top 10 Brands in World Market" in 2006 by the World Confederation of Productivity Science, Chinese Association of Productivity Science and World Productivity Congress. In 2007, "Bosideng" was the only apparel brand awarded amongst "China's World Famous Brands" by the PRC General Administration of Quality Supervision, Inspection and Quarantine.
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