Men'S Clothing Brand Kabin Clothing Announced Its Plan To Be Listed On The Hong Kong Stock Exchange In Hong Kong

Yesterday afternoon, the casual men's wear brand Kabin Clothes & Accessories In Hong Kong, the plan to list on the Hong Kong Stock Exchange was announced. It is proposed to issue 175 million shares at a price between HK $2.25 and HK $2.8 per share, with a maximum amount of HK $490 million raised. It will start its public offering tomorrow and will be listed on the 28th of this month.

At present, the whole clothing The industry is in the deep adjustment of de stocking, which can be seen in the performance of Kabin Clothing from 2012 to the first half of this year. Its revenue in 2012 was 940 million yuan and 130 million yuan, significantly slower than that in 2011. In the first half of this year, its revenue and net profit were 335.4 million yuan and 76.9 million yuan respectively, with a decline of 20.75% in revenue. Wu Shaoqiang, executive director and president of Kabin Garments, said that in order to help distributors reduce inventory, Kabin Garments lowered its orders from the second half of 2012 to the first half of 2013, which led to a decline in revenue.

The slowdown in the first half of this year has challenged the performance of Kabin Clothing in the second half of this year. "Many clothing brands in the industry may still be in the process of de stocking, but we have completed it." Wu Shaoqiang revealed that in the third quarter of 2013, the fourth quarter and the first quarter of 2014, the orders of Kabin clothing increased by 7%, 26% and 17% year on year respectively.

At yesterday's press conference, Kabin Clothing revealed that 40% of the amount raised will be used to improve design and R&D capabilities; In terms of brand promotion and marketing and opening of self operated retail stores, HK $70.9 million will be invested respectively, accounting for 20% of the total investment.