XTEP International Retail Sales Increased By More Than 20% In The First Quarter Of 2019 Compared With The Same Period Last Year.

In April 8th, XTEP International announced the operation of China in the first quarter of 2019.

In the first quarter, same store sales (at retail value) achieved double-digit growth compared to the same period last year, while retail sales (including online and offline channels) grew by more than 20% over the same period.

In addition, the retail discount level is about 25% off, which is promoted by the promotion during the Chinese New Year season, and the turnover of retail inventory is about four months.

In addition, XTEP International announced in early March 29th that it would offer 247 million new shares and HK $1 billion 355 million in HK $5.56 per share (15% discount of March 28th closing price), placing the shares at about 9.92% of the expanded issued share capital.

The net proceeds from the subscription will be used for the potential acquisition of international sports brands, expansion of overseas business and general working capital of the group.