Exceed Company Ltd. reported audited earnings results for the year ended December 31, 2011. For the period, the company reported profit of RMB 470,082,000 or RMB 13.72 per diluted share on revenues of RMB 3,288,561,000 compared to profit of RMB 353,242,000 or RMB 10.67 per diluted share on revenues of RMB 2,698,891,000 a year ago. Operating profit was RMB 498,215,000 compared to RMB 409,822,000 a year ago. Profit before tax was RMB 536,004,000 compared to RMB 409,516,000 a year ago. Total comprehensive income for the year attributable to equity holders of the company was RMB 474,124,000 compared to RMB 362,625,000 a year ago. Net cash inflow from operating activities was RMB 320,435,000 compared to RMB 523,516,000 a year ago. The results were supported by the company's ongoing marketing and branding efforts which have promoted the brand image and allowed the company to further penetrate the domestic sportswear market in China. The increase in revenue in 2011 was primarily due to further market penetration as a result of the continuous marketing and brand promotion efforts. The company expects to generate net revenues in the range of RMB 841.6 million to RMB 864.1 million in the first quarter of 2012, representing a year-over-year increase of approximately 12% to 15%, as compared with RMB 751.4 million in the same period of 2011. This represents the company's preliminary estimates, and is subject to change.