DGAP-News: Ming Le Sports AG / Key word(s): Development of Sales Ming Le Sports AG: Spring/Summer sales fair gives first indication for revenue growth in 2014 04.12.2013 / 15:15 --------------------------------------------------------------------- Ming Le Sports AG: Spring/Summer sales fair gives first indication for revenue growth in 2014 * Spring/Summer 2014 sales fair shows softer growth of overall orders * Short Spring/Summer season is expected to be overcompensated by stronger sales for Autumn/Winter collection * First guidance for full year 2014 expects double-digit growth of revenues Frankfurt, December 4, 2013 - Chinese branded sportswear company Ming Le Sports AG has held its 2014 Spring/Summer sales fair in Shenyang City, Liaoning Province. The fair showed a softer growth of overall orders of 4.5 per cent compared to previous year's 25.8 per cent increase for the Spring/Summer 2013 collection. Order intake during the fair had a total volume of 1,366.5 million Renminbi (2012: 1,307.2 million Renminbi) and for the first time included OEM orders of around 44 million Renminbi. The performance per business segment was uneven at the Spring/Summer 2014 sales fair. While the segment 'apparels, accessories and equipment' contributed an increase in sales orders of 9.8 per cent, 'footwear' sales orders increased by 0.7 per cent. The growth in overall orders was driven by price increases. In terms of sales volume in units, the apparels segment showed an increase of 7.8 per cent to 8.5 million compared to previous year's Spring/Summer fair. The footwear segment recorded a decline of 2.1 per cent to 7.7 million units. Historical seasonal trends and the results of the Spring/Summer 2014 sales fair give an indication of the market expectation for a shorter Spring/Summer sales period and a longer Autumn/Winter sales season in 2014. Hence, Ming Le believes that the Autumn/Winter 2014 sales fair orders will overcompensate the weak order intake for the Spring/Summer collection. Ming Le thus redistributes its focus to take advantage of a longer and more lucrative Autumn/Winter market and plans conservatively in the first half of the year. In addition, the Company will pre-position raw materials inventory and production capacity to take advantage of any upward market trends in Spring/Summer that may materialize. Double-digit growth expected for full year 2014 The current guidance for the full year 2013 remains unchanged with a projected growth of revenues in Euro terms of 25 per cent. Despite the soft demand during the Spring/Summer 2014 sales fair, Ming Le expects an overall revenues growth in the range of 10-15 per cent in Euro terms for the full financial year 2014. About Ming Le Sports AG Ming Le Sports AG is a growing branded sportswear company in China targeting 16 to 35-year-old men and women who lead an urban, vibrant and active lifestyle. Ming Le's products include footwear, apparel, accessories and equipment. The company strives to offer comfortable, fashionable and affordable lifestyle and leisure sportswear. Ming Le designs its own products and manufactures them at Ming Le's facilities or through contract manufacturers. Ming Le markets and sells its products through a network of 26 distributors to over 4,200 retail outlets in China. At present, Ming Le has over 1,400 employees. For further information, please contact: Kirchhoff Consult AG Anja Ben Lekhal Tel: +49(0) 40 609 186 55 Mail: [email protected] Or visit http://www.mingle-sportswear.com End of Corporate News --------------------------------------------------------------------- 04.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Ming Le Sports AG Westhafenplatz 1 60327 Frankfurt am Main Germany Internet: www.mingle.cn ISIN: DE000A1MBEG8 WKN: A1MBEG Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf End of News DGAP News-Service --------------------------------------------------------------------- 243140 04.12.2013