Firstextile AG

Firstextile is the leading manufacturer of high-end yarn-dyed fabric in the Chinese market with a market share of approx. 9% in terms of volume in 2011. It also markets fabric and shirts specifically designed for uniforms used by Chinese government institutions and enterprises, as well as its own branded men’s shirts with the brand ‘Firstextile’ for the wholesale business. The company operates modern production facilities in Jiangyin near Shanghai, China, which is one of the main centres of the Chinese textile industry and it focuses particularly on high product quality. As the company already operates almost at its maximum capacity it plans to use the net proceeds from the successful completion of the IPO in November 2012 and further cash flows to double the current after-finishing capacity of 36 million meters to 72 million meters in order to meet future demand. At the same time, weaving capacity is intended to be expanded from short of 11 million meters to 27 million meters and dyeing capacity from 7,900 tons to 15,800 tons.