China Xiniya Fashion Limited (NYSE: XNY) announced today that Qiming Xu, chairman and chief executive officer, and Chee Jiong Ng, chief financial officer, will host a conference call to provide a business update. Management is reaffirming full year guidance of revenues of RMB 880 to RMB 900 with a gross profit margin at a similar level to 2009. The conference call will occur on 8:00pm EST on Monday, January 31, 2011 (9:00 am in Hong Kong on February 1, 2011). Following the prepared remarks, management will take questions. The dial-in details of the live conference call are as follows: Participant Dial In (Toll Free USA): 1-877-317-6789International Dial In: 800-962-475 (Hong Kong)International Dial in: 10-800-712-2304 (Northern China Region)International Dial in: 10-800-120-2304 (Southern China Region] A live webcast of the conference call will be available on the investor relations section of the Company's website at: http://ir.xiniya.com Safe Harbor Statement This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
About China Xiniya Fashion Limited (the “Company” or “XNY”)
- Xiniya is a leading provider of men's business casual apparel in China. The Company designs and manufactures men's business casual and business formal apparel and accessories, which are marketed under the Xiniya brand, and sells through its distribution network that includes 26 distributors and 24 department store chains. Its products are sold to consumers at over 1,300 authorized retail outlets owned and managed by third parties located in 21 provinces, five autonomous regions and four municipalities in China. The authorized retail network, which is owned and managed by third parties, focuses on second- and lower-tier cities, where increasing affluence has led to an improvement in living standards and where most international men's apparel brands do not have a significant presence. The Company's target consumers are male working professionals in China between the ages of 25 and 45 who seek fashionable clothing to suit their working and lifestyle needs. For more information, please refer to the Company’s website http://ir.xiniya.com.