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Despite the poor market sentiment, C.BANNER INTERNATIONAL was successful IPO listed on the main board of the Hong Kong Stock Exchange

  On 23 September 2011, C.BANNER INTERNATIONAL Holdings Limited (stock code: 1028) was listed on the Hong Kong Stock Exchange. This marked an important milestone in the development of the Hongguo Group and C.BANNER INTERNATIONAL. The Chairman and Executive Director, Mr. CHEN Yixi, the President and Chief Executive Officer, Mr. LI Wei, Non-Executive director, Mr. MIAO Binwen and the core management team of Hongguo have participated in the listing ceremony, together with honourable guests witnessed this important historical moment.

Listed Address of Chairman, Mr. CHEN Yixi

Hongguo’s market positioning has been clearly defined since it was founded, it has been committed to create outstanding Chinese fashionable brand for women shoes. C.BANNER INTERNATIONAL has become the second largest retailer of middle to premium formal and causal women shoes in China, after a more than 10 years of dedicated efforts by our team. Our group’s propretiary brands are the C.banner, E.BLAN, Fabiola and Sundance. We also have an licensed brand Naturalizer. With the brand’s distinct characteristics, the five brands target different market segments. C.banner is currently the fourth largest brand in the middle to premium women shoes in China today, capturing more than 5% of the Chinese retail shoe market.%。

Although the listing period for C.BANNER INTERNATIONAL in Hong Kong was right in the middle of the US and Euroepan debt crisis, which have caused considerably turbulence to the global stock markets, our company committed to its goals and listing schedule, and became the first company to be listed on the stock exchange in September. The global offering has achieved impressive response from investors; the international share allocations were oversubscribed. This fully shows that investors recognised C.BANNER INTERNATIONAL’s leading status in the industry and the competitiveness of the Group’s business models.

By starting the IPO planning in Hong Kong straight away after one year C.BANNER INTERNATIONAL was delisted from the Singapore Exchange, this reflect highly on the management’s strategic vision and also shown the strength of our company in meeting the listing requirement of Hong Kong.

As Hong Kong is the fashion capital of Asia and melting point for modern fashion around the world, the listing in Hong Kong can be conducive for the future development of the Group’s brands. Furthermore, by leveraging on International capital raised in the Hong Kong capital market and the similar culture background with the Mainland , C.BANNER INTERNATIONAL is confident to develop world famous shoes brands.

C.BANNER INTERNATIONAL has gained strong support from two cornerstone investors for its listing in Hong Kong — Golden Eagle and Easeland. This reflects international capital fully recognised C.BANNER INTERNATIONAL‘s business model, profitability and the quality of its management. At the same time, the two investment banks Citigroup and DBS have accompanied the Group throughout the listing process, other parties such as lawyers, auditors, property valuers, Roadshow coordinator, PR agency, etc have also made valuable contribution toward C.BANNER INTERNATIONAL successfully listing in Hong Kong.

C.BANNER INTERNATIONAL plans to allocate net of 40% of the fund raised fromits listing on retail network expansion. From now till 2013, the group expects an net increase of 300 to 400 retail outlets annually, of which about 100 outlets will be franchised outlets. In term of operational control, this offer our company a more flexibility in responding quickly to the constant changing market trend, and further improve our operational efficiency.

With the successful listing of C.BANNER INTERNATIONAL, the three biggest women shoes company Belle, C.banner and ST& SAT have already raised fund successively. The expansion that follow this fund raising exercise is clear, therefore, the competitions in the Chinese women shoes industry will be more intense in the future. The competition between the three leading companies will be even more fierce going forward. The market for China’s top women shoes brands have officially entered the “Warring States Period”.

“A time will come to ride the wind and cleave the waves to cross the sea.” 23 September 2011 is a memorable day for Hongguo’s employee, also it was the new starting point for C.BANNER INTERNATIONAL. Our employees will continue to make the best efforts, uphold the spirit of Hongguo, bear social responsibility to create more values for the Company, and aim for higher achievement, for our shareholders, society, partners and fellow colleauges.