FIRSTEXTILE AG 
By T: +49 (0) 69 6655 4416 F: +49 (0) 69 6655 4418 T: +86 (0) 510 8668 8679 F: +86 (0) 510 8668 8688
Corporate News20 June 2013
Firstextile AG successfully held its first AGM after the IPO• All agenda items approved with large majorities by the company's shareholders
• Management Board reported on the successful 2012 financial year and confirmed positive outlook for 2013
• Dividend payments to shareholders starting from the financial year 2013 onwards
Frankfurt, 20 June 2013 - Firstextile AG (FT8) today successfully held its annual general meeting in Frankfurt/ Main, Germany. A total of 80.21% of the share capital was present. The company reported on the positive business development in its past 2012 financial year, and adopts an optimistic view
of the future. Fred Yang, founder and CEO of Firstextile AG: "We are very pleased having achieved
such positive results in the previous year 2012. On behalf of the whole management I would like to thank our shareholders for the trust they have placed in Firstextile AG."
During the AGM all agenda items were approved with large majorities by the shareholders present. All Management and all Supervisory Board members who held office during the 2012 financial year were discharged. Besides, the annual general meeting appointed all proposed candidates for the new Supervisory Board. In the following constituent meeting the Supervisory Board appointed Dr. Yann Samson as its Chairman. Richard Cao, CFO of Firstextile AG, explained to the shareholders the company's business model and its expansion strategy and took positive stock of recent business trends in this context: "The business development in all our three strategic business units - Fabrics, Uniforms and Branded Products - is very positive. Currently we are building up a new production facility to increase our capacities. By expanding our business I expect that we will be able to fully exploit the market's growth momentum and continue our strong growth in the upcoming years." He also confirmed the outlook for the 2013 financial year: "We expect an increase in revenues up to an amount of between EUR 204 m and EUR 221 m for
2013. With a stable EBIT margin between 20% and 24% this growth should result in increasing earnings per share." From fiscal year 2013 onwards Firstextile intends to pay 15%-25% of the net profit as dividends.
Company profile
Firstextile is the leading manufacturer of high-end yarn-dyed fabric in the Chinese market with a market share of approx. 9% in terms of volume in 2011. It also markets fabric and shirts specifically designed for uniforms used by Chinese government institutions and enterprises, as well as its own branded men's shirts and other branded products with the two brands "Varpum"
cometis AG
TEL +49.611.20 58 55-13 TEL +49.611.20 58 55-28 Unter den Eichen 7 / Building D FAX +49.611.20 58 55-66 FAX +49.611.20 58 55-66 65195 Wiesbaden, Germany deter@cometis.de krause@cometis.de www.cometis.de
Firstextile AG No.55 Yabao Road, Shengang Town, Lyoner Straße 14, 60528 Frankfurt am Main, Germany Lingang Economic Development Zone, Jiangyin, Jiangsu, PRC 214443T: +49 (0) 69 6655 4416 F: +49 (0) 69 6655 4418 T: +86 (0) 510 8668 8679 F: +86 (0) 510 8668 8688
and "Firstextile" for the Chinese premium market segment. The company operates modern production facilities in Jiangyin near Shanghai, China, which is one of the main centres of the Chinese textile industry and it focuses particularly on high product quality. As the company already operates almost at its maximum capacity it plans to use the net proceeds from the successful completion of the IPO in November 2012 and further cash flows to double the current after-finishing capacity of 36 million metres to 72 million metres in order to meet future demand.
At the same time, weaving capacity is intended to be expanded from short of 11 million metres to
27 million metres and dyeing capacity from 7,900 tons to 15,800 tons.
cometis AG
TEL +49.611.20 58 55-13 TEL +49.611.20 58 55-28 Unter den Eichen 7 / Building D FAX +49.611.20 58 55-66 FAX +49.611.20 58 55-66 65195 Wiesbaden, Germany deter@cometis.de krause@cometis.de www.cometis.de
|
distributed by
|
