Xiniya Fashion scales up retail store count in 2010

China Xiniya Fashion Limited, a leading provider of men's business casual apparel in China, provided an update on its business for the year ended December 31, 2010.

During the year, the Company added 223 new retail outlets opened by Xiniya authorized retailers, up from the original planned increase of 180 to 200 new retail stores for 2010. As a result, Xiniya's total number of authorized retail outlets reached 1,404 authorized retail stores as of December 31, 2010, up from 1,181 at the end of 2009.

With the contribution of these new outlets, Xiniya expects full year 2010 revenues to range between RMB 880 million to RMB 900 million, or about $131.5 million to $134.5 million, with a gross profit margin at a similar level to that of 2009, between 34% and 35%.

Xiniya is a leading provider of men's business casual apparel in China. The Company designs and manufactures men's business casual and business formal apparel and accessories, which are marketed under the Xiniya brand, and sells through its distribution network that includes 26 distributors and 24 department store chains.