News

Reference is made to the news article headlined "Xidelang in RM250m order talks" published inThe Edge Financial Daily today (19 June 2017), in particular the following extracts:-

(a) China-based casual and sports shoemaker Xidelang Holdings Ltd is negotiating two more orders worth 200 million yuan (RM125.6 million) each for the next 24 months. One of the two original design manufacturer (ODM) orders is related to Spanish fashion brand Zara.

The Company wishes to confirm that the above deals are still in the midst of negotiating and relevant immediate announcement(s) shall be made to Bursa Malaysia Securities Berhad upon signing of the necessary memorandum and/or agreement, if any.

(b) With the higher production capacity, Ding expects Xidelang’s revenue for the financial year ending Dec 31, 2018 (FY2018) to grow by 30% as well.

The Company wishes to clarify that the revenue growth of 30% is only an internal management target not a forecast of revenue.

This announcement is dated 19 June 2017.