KINGHERO AG
KINGHERO AG right on track with its strategy and growth targets
KINGHERO AG / Key word(s): Miscellaneous 07.06.2011 / 15:33 Munich, 7 June 2011. KINGHERO AG, the German holding company of a fast-growing Chinese fashion company, emphasizes within the context of current share price volatility that the company's is progressing with its growth strategy just as planned. The Management Board confirms the positive outlook for 2011 with group revenues of EUR 105 million and margins at least at the previous year's level. This outlook does not include the additional sales from 30 flagship stores, which KINGHERO intends to open in 2011 with the proceeds of the capital increase. KINGHERO's consolidated annual report 2010 was audited by Grant Thornton (Germany). Grant Thornton (Singapore) is the auditing company for the fully owned subsidiary Kinghero Group Ltd. (Hong Kong) as well as its fully owned subsidiaries Xiamen Michelle Fashion Co., Ltd. and Kinghero Fashion (Xiamen) Co., Ltd. Xiamen Kinghero Fashion Co., Ltd. was founded in 1986 already. In 2002, the brand KINGHERO was introduced. The company's German AG was listed on the Frankfurt Stock Exchange's Entry Standard in August 2010. The company exceeded the Entry Standard's transparency requirements by publishing quarterly figures as well as all information both in English and in German. Thus already today, KINGHERO fulfils the requirements of Deutsche Boerse AG's Prime Standard segment. The communicated targets since the IPO have always been achieved or exceeded. The first quarter's results prove the stable growth of the Chinese fashion company. KINGHERO's sales network covers more than 30 cities in 19 provinces, including four out of the five most populated Chinese cities. The increasing demand results particularly from the contemporary design, the variety of products and the successful strategic pricing of KINGHERO's products. KINGHERO's strong brand presence steadily evolves due to an increasing number of flagship stores and the extension of the distribution network. After having opened the first own flagship store in August 2010, KINGHERO operated 10 stores at the end of Q1 2011, and currently 17 stores. In total, KINGHERO's distribution network covers 387 retail stores. In May 2011 the company successfully placed a capital increase. The realized proceeds amounting to EUR 15 million fund the planned investments and the dynamic growth until 2013. The company has liquidity reserves amounting to more than EUR 45 million and is free from debt. The KINGHERO share was covered by analysts before and after the IPO on a regular basis. The assessment of analysts from BankM, GBC AG, Warburg Research and Silvia Quandt Research GmbH all have positive recommendations. About KINGHERO AG KINGHERO AG is the German Holding Company of the KINGHERO Group of companies, mainly active in the Peoples Republic of China (PRC). The Group is a strongly growing apparel manufacturer and designer, featuring a leading Chinese fashion brand for the strongly growing urban middle class in China. The key to the Company's success is a high fashion degree with a European 'touch and feel' as well as an upscale quality. The high speed of the design and marketing of new collections ensures a fit to the changing demands of the growing urban middle class in China. Being in this business for more than 25 years, the group and its more than 1,000 employees produce attire for all seasons under the KINGHERO brand. The product portfolio includes suits, jackets, shirts, pants and sweaters for men and women and is divided into a business casual range and a general casual range. For further information please contact: Kirchhoff Consult AG Verena Rauch Phone: +49 (0)40 60 91 86 34 verena.rauch@kirchhoff.de KINGHERO AG Montenstr. 11 80639 Munich Germany Phone: +49 (0)89 12 71 13 29 xiaoping.zhao-moll@kinghero.de Disclaimer This document is not an offer of securities for sale or a solicitation of an offer to purchase securities in the United States. The shares of KINGHERO AG (the 'Shares') have not been registered under the U.S. Securities Act of 1933, as amended (the 'Securities Act') and may not be offered or sold in the United States unless registered under the Securities Act or pursuant to an exemption from such registration. There will be no public offering of the Shares in the United States and the Shares will not be registered under the Securities Act. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. End of Corporate News --------------------------------------------------------------------- 07.06.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: KINGHERO AG Montenstr. 11 80639 München Deutschland Phone: 089 - 127 11 329 Fax: 089 - 127 11 313 E-mail: contact@kinghero.de Internet: www.kinghero.de ISIN: DE000A0XFMW8 WKN: A0XFMW Listed: Freiverkehr in Düsseldorf, Hamburg, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 127782 07.06.2011
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