PRESS RELEASES

 

SHIGO increases sales and earnings in 2009
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New loan enables SHIGO ASIA to start construction of three new production lines
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SHIGO ASIA AG: Growth in Sales and Earnings
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SHIGO ASIA plans to pay dividend after successful financial year 2008.
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SHIGO ASIA: strong revenue growth
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Stock market newcomer
SHIGO ASIA continues to growth profitably
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SHIGO ASIA: orders on hand considerably higher than in the previous year
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SHIGO ASIA makes strong start to 2008 in first quarter
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SHIGO ASIA: listing in the entry standard
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SHIGO ASIA: listing in the entry standard
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SHIGO ASIA: listing in the Entry Standard

- Third-largest manufacturer of bedspreads in the world
- Sales growth of about 50 per cent
- Net margin of 14 per cent

Hamburg, 6. May 2008. SHIGO ASIA, a Chinese manufacturer of household textiles, was included in the Deutsche Börse Entry Standard segment today. “SHIGO ASIA’s stock market listing in Germany gives us access to European investors. Building upon our strong international growth, we already hold an excellent global position and our medium-term goal is to become the leading supplier in our market segment. After 3.9 million blankets last year, we are planning to sell more than 7 million blankets this year,“ says Cao Guifa, member of the board of SHIGO ASIA AG. The company has developed very dynamically, with sales growth of 35 per cent and a 54 per cent increase in net earnings in the past three years.
SHIGO ASIA develops, produces and sells household textiles. The company is the third-largest manufacturer of bedspreads in the world. SHIGO has 1 400 employees and observes the highest international standards in its production operations in China.
SHIGO ASIA has expanded its production capacities steadily: the company produced about 3.9 million bedspreads in the past financial year compared with 2.8 million in 2006. Sales increased by 49 per cent to EUR 22.8 million as a result. About 90 per cent of sales were generated outside China last year: SHIGO obtained 25 per cent of its sales in Europe, 23 per cent in North America and a further 23 per cent in South Africa. SHIGO has increased its production capacities again substantially by acquiring Linyi Grene Industry and Trading Co. Ltd. and has created the basis for further growth by doing so.
SHIGO ASIA is a leading Chinese manufacturer of bedspreads and is the most profitable supplier in the field: with net earnings* of EUR 3.2 million in the past financial year – growth of 57 per cent over the previous year – the net margin is 14 per cent. Earnings before interest and tax (EBIT) increased by 83 per cent to EUR 4.4 million in 2007.
SHIGO’s competitive strengths are the development of innovative products and modern production technology. High-quality workmanship and lavish design are outstanding features of the textile products, which are optimised on an ongoing basis with the focus primarily on health and comfort. The modern, environmentally sound production technology SHIGO uses enables the company to manufacture high-quality products at low cost.

*pro forma
 

The market for household textiles from China continues to grow very dynamically: the export volume achieved with Chinese bedspreads has increased by 49 per cent a year over the past five years and reached EUR 339 million in 2007. The domestic Chinese market with its roughly 1.3 billion inhabitants has tremendous potential in future as well, however.

Further information can be found on the company website www.shigo-asia.com.

Press inquiries:
Kirchhoff Consult AG, Janina Wismar
Tel.: +49 40/609186-50, janina.wismar@kirchhoff.de

Disclaimer
This communication is neither an offer to sell nor a request to make an offer to buy or subscribe to securities. There is no public offering of SHIGO ASIA AG securities in connection with the listing in Entry Standard trading at the Frankfurt Stock Exchange. This communication is not a securities prospectus. This communication and the information it contains are not intended for direct or indirect forwarding to or inside the United States of America, Canada, Australia or Japan.