Nike Air Force 1 High shoes-China Xiniya Fashion I

[yitchina]

Lead Underwriters: Cowen & Company (COWN)
The men’s retail apparel industry in China is highly competitive. We compete primarily with domestic men’s apparel brands on the bases of quality, design,Designer Dirk Bikkembergs Belts, the breadth of our authorized retail network customer service and price. We have limited ability to set price levels of our products in our target markets, and we are therefore required to adjust the prices of our products from time to time to be comparable with the prevailing market prices of similar products offered by our competitors. We believe that our primary competitive advantages are consumer recognition of our brand name and our authorized retail network coverage in many second- and lower-tier cities in China. Our major competitors include, among others,designer T-shirts shop, Lilanz,nike dunk sb shoes, Septwolves and K-Boxing. We believe the intense competition in China’s men’s apparel industry will continue in the future.
Business Overview (from prospectus)
Revenues increased by 36.2% from RMB415.2 million for the nine months ended September 30, 2009 to RMB565.7 million ($84.6 million) for the nine months ended September 30, 2010...Cost of sales increased by 34.3% from RMB279.5 million for the nine months ended September 30, 2009 to RMB375.3 million ($56.1 million) for the nine months ended September 30,Nike Dunk SB Low shoes, 2010...Selling and distribution expenses increased by 40.6% from RMB6.4 million for the nine months ended September 30,nike sneaker-Get Into China - Architecture Interio, 2009 to RMB9.0 million ($1.3 million) for the nine months ended September 30, 2010...Administrative expenses increased by 95.6% from RMB2.1 million for the nine months ended September 30,air max shoes wholesale, 2009 to RMB4.1 million ($0.6 million) for the nine months ended September 30,Dsquared men's T-Shirts, 2010...Net profit increased by 39.4% from RMB111.6 million for the nine months ended September 30,G-Star T-shirts, 2009 to RMB155.5 million ($23.2 million) for the nine months ended September 30, 2010...
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Financial Highlights:
Competitors

We are a leading provider of men’s business casual apparel in China. We design and manufacture men’s business casual and business formal apparel and accessories,Nike Air Max 87 shoes, which we market under the Xiniya brand and sell through our distribution network that includes 26 distributors and 24 department store chains. Our products are sold to consumers at over 1,300 authorized retail outlets owned and managed by third parties located in 21 provinces, five autonomous regions and four municipalities in China. According to Frost & Sullivan, we ranked fifth in terms of retail sales revenues for the year ended December 31,Nike Air Force 1 High shoes, 2009 within the business casual men’s apparel market in China. We focus on creating products that feature a high standard of style, design,Nike Dunk SB Women's-Lu Kun - Designer for the div,Nike Air Max 2011 shoes, fabrics and craftsmanship. Our authorized retail network, which is owned and managed by third parties,women's T-shirts-Cheap China Replica Designer Watc, focuses on second- and lower-tier cities,Nike Air Force 1 Low shoes, where increasing affluence has led to an improvement in living standards and most international men’s apparel brands do not have a significant presence. Our target consumers are male working professionals in China between the ages of 25 and 45 who seek fashionable clothing to suit their working and lifestyle needs. We operate our business through Fujian Xiniya, our wholly owned subsidiary in China.
Company website WSJ: China Xiniya Fashion Drops 9.6% Post-IPO BusinessWeek: China Xiniya Fashion raises $88 million from IPO

Additional Resources:
China Xiniya Fashion (XNY),a China-based provider of men’s business casual apparel, priced its IPO on 22nd November, 2010, at $11 per ADS,Nike Air Max TN shoes, the high end of range and gave first day negative return of 9.5%.
Offering: 8 million ADS at $11 per ADS. Net proceeds of approximately $71 million will be used for business expansion and capital expenditure.