As of December 31, 2010, the Company had trade receivables of RMB221.4 million arising wholly from its sales recognized during the fourth quarter of 2010. The trade receivables as of December 31, 2010 were down from RMB276.0 million in trade receivables as of September 30, 2010 which were entirely related to sales recognized during the third quarter of 2010. The trade receivables outstanding as of December 31, 2010 were fully collected by March 28, 2011 in accordance with the Company’s standard maximum 90-day credit terms. The three-months moving average trade receivables turnover days were 67 days and 64 days as of December 31, 2010 and March 28, 2011, respectively. The trade receivables as of March 28, 2011 are entirely related to sales recognized during the first quarter of 2011.Outlook for First Quarter 2011
China Xiniya Fashion Limited Reports Fiscal Year 2010 Financial Results
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