China Xiniya Fashion Limited Renews Sponsorship Agreement With Leading Pop Star In China
China Xiniya Fashion Limited ("Xiniya" or the "Company") (NYSE: XNY), a leading provider of men's business casual apparel in China, announced today that it has renewed and expanded its brand spokesperson contract with Jacky Cheung, one of the most well-known pop singers in China, for an additional two year period commencing on March 1, 2011 through February 28, 2013. Mr. Cheung has represented the Xiniya brand since October 2007 and his current engagement is set to expire in February 2011.
Mr. Cheung is a popular icon in China in the music, film and television industries, where he is also regarded as one of the “Four Heavenly Kings of Chinese Pop Music.” Peak record sales of more than 50 million albums in China, were second only to the late Michael Jackson, according to IFPI statistics. In 2007-2008, Mr. Cheung was recognized by the Guinness Book of World Records for organizing the most series of concerts and has been considered “One of the Top 25 Most Influential People in Hong Kong” by Time Magazine. In television, Mr. Cheung has received awards for Best Supporting Actor by the Hong Kong Film Awards and the Taiwan Golden Horse. He was also awarded Best Actor by The New Delhi Film Festival.
Under the terms of the contract, Mr. Cheung will appear in television and print advertisements and participate in press conferences in certain mainland cities in China. Xiniya is permitted to use these advertisements at its stores and other outlets that are mutually agreed upon by both parties. Xiniya will also sponsor Mr. Cheung’s current 50 city concert tour, “One Half Century,” in select cities, and the Xiniya brand will be featured on all concert advertising and press campaigns. As this will be Mr. Cheung’s first concert tour in over three years, there has been significant media and fan attention placed on the tour. Financial terms of the contract renewal are consistent with the terms of the initial contract. However, Mr. Cheung will be paid in HKD which has depreciated relative to the RMB. Thus, Xiniya will realize more favorable payments due to currency fluctuations.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV