XDL (5156) - Xidelang targets double-digit revenue growth in FY15
April 13, 2015 : 10:16 AM MYT
PUTRAJAYA: Sports and casual shoe manufacturer Xidelang Holdings Ltd is eyeing double-digit growth in revenue for its financial year ending Dec 31, 2015 (FY15).
“We have established a few collaborations with certain international brands, which will see them placing more orders with us,” the China-based group’s managing director cum chief executive officer Mark Ding Peng Peng told reporters after an extraordinary general meeting (EGM) last Friday.
These brands include Spain’s Zara and America’s Brooks as well as Sketchers.
When pressed for more details, Ding declined to reveal more, citing non-disclosure agreements.
According to Ding, Xidelang (fundamental: 1.3; valuation: 1.8) will be one of the manufacturers for these brands. Xidelang has seen its earnings fall for four consecutive financial quarters last year.
The group registered a net profit of RM28.21 million for FY14, less than half the RM58.93 million it made in FY13, while revenue contracted 18% to RM301.54 million from RM367.62 million previously.
Meanwhile, Ding noted that the group’s traditional sales model is incurring more costs, thus the management is venturing into electronic commerce (e-commerce)
“Traditionally, we were focused on our retail outlets. By the second half of 2015, we hope to sell our products online, to adapt to the new market condition,” he said. However, Ding said the idea of going online is still a nascent one.
Meanwhile, China remains its main target market. “We will still be distributing our products in China even after we embark on e-commerce,” he stressed.
http://www.theedgemarkets.com
April 13, 2015 : 10:16 AM MYT
PUTRAJAYA: Sports and casual shoe manufacturer Xidelang Holdings Ltd is eyeing double-digit growth in revenue for its financial year ending Dec 31, 2015 (FY15).
“We have established a few collaborations with certain international brands, which will see them placing more orders with us,” the China-based group’s managing director cum chief executive officer Mark Ding Peng Peng told reporters after an extraordinary general meeting (EGM) last Friday.
These brands include Spain’s Zara and America’s Brooks as well as Sketchers.
When pressed for more details, Ding declined to reveal more, citing non-disclosure agreements.
According to Ding, Xidelang (fundamental: 1.3; valuation: 1.8) will be one of the manufacturers for these brands. Xidelang has seen its earnings fall for four consecutive financial quarters last year.
The group registered a net profit of RM28.21 million for FY14, less than half the RM58.93 million it made in FY13, while revenue contracted 18% to RM301.54 million from RM367.62 million previously.
Meanwhile, Ding noted that the group’s traditional sales model is incurring more costs, thus the management is venturing into electronic commerce (e-commerce)
“Traditionally, we were focused on our retail outlets. By the second half of 2015, we hope to sell our products online, to adapt to the new market condition,” he said. However, Ding said the idea of going online is still a nascent one.
Meanwhile, China remains its main target market. “We will still be distributing our products in China even after we embark on e-commerce,” he stressed.
http://www.theedgemarkets.com
