Annuncio • 21h
China Dongxiang (Group) Co., Ltd. Provides Earnings Guidance for the Financial Year Ended 31 March 2026 China Dongxiang (Group) Co., Ltd. provided earnings guidance for the financial year ended 31 March 2026. For the year, the company expects to record a net loss attributable to equity holders of the Company of not more than RMB180 million for the financial year ended as compared to a net profit attributable to equity holders of the Company of approximately RMB 207 million for the financial year ended 31 March 2025. The expected net loss for FY2025/26 as compared to the profit recorded for the preceding year is primarily attributable to the following factors: volatility in the capital markets in the second half of FY2025/26, particularly the continuous decline in March 2026, resulting in a decrease in gain from fair value change of financial assets; as a significant part of assets held by the Group are US dollar assets, the depreciation of the US dollar against the Renminbi had resulted in exchange loss; and impairment allowance provided for loans to existing and former management personnels. Annuncio • May 20
China Dongxiang (Group) Co., Ltd. to Report Fiscal Year 2026 Final Results on Jun 24, 2026 China Dongxiang (Group) Co., Ltd. announced that they will report fiscal year 2026 final results on Jun 24, 2026 Annuncio • Jan 02
China Dongxiang (Group) Co., Ltd. Announces Board and Committee Changes, Effective December 31, 2025 China Dongxiang (Group) Co., Ltd. announced that with effect from December 31, 2025, Mr. Liu Xiaosong has resigned as an independent non-executive Director, the chairman of the remuneration committee of the Board, a member of the audit committee of the Board and a member of the nomination committee of the Board in order to devote more time to his personal commitments. Following the resignation of Mr. Liu as an INED and the cessation of his offices in the Board committees, the Board comprises of only two INEDs. As such, the Company fails to meet the requirements set out in (i) Rule 3.10(1) of the Rules Governing the Listing of Securities on the Stock Exchange that the Company must have at least three INEDs; (ii) Rule 3.21 of the Listing Rules that the Audit Committee must comprise a minimum of three members; (iii) Rule 3.25 of the Listing Rules that the Remuneration Committee must be chaired by an INED and comprise a majority of INEDs and; (iv) Rule 3.27A of the Listing Rules that the Nomination Committee must comprise a majority of INEDs. The Company is in the process of identifying a suitable candidate for appointment as a new INED and filling the vacancy in the Audit Committee, the Remuneration Committee and the Nomination Committee as soon as practicable and in any event, within three months from December 31, 2025. As at the date of this announcement, the executive directors of the Company are Mr. Chen Yihong, Ms. Chen Chen and Mr. Lyu Guanghong; and the independent non-executive directors of the Company are Mr. Gao Yu and Ms. Tang Songlian. Annuncio • Oct 31
China Dongxiang (Group) Co., Ltd. to Report First Half, 2026 Results on Nov 26, 2025 China Dongxiang (Group) Co., Ltd. announced that they will report first half, 2026 results on Nov 26, 2025 Annuncio • May 16
China Dongxiang (Group) Co., Ltd. to Report Fiscal Year 2025 Results on Jun 25, 2025 China Dongxiang (Group) Co., Ltd. announced that they will report fiscal year 2025 results on Jun 25, 2025 Annuncio • Dec 20
China Dongxiang (Group) Co., Ltd. Announces Directorate and Committee Changes The Board of China Dongxiang (Group) Co., Ltd. that Ms. Tang Songlian (Ms. Tang) has been appointed as an independent non-executive director of the Company with effect from 20 December 2024. Ms. Tang, aged 43, is a professor at the School of Business and Management of Donghua University () and a certified public accountant in China. She was the deputy professor, deputy department head and secretary of the party branch of the School of Business of East China University of Science and Technology from 2011 to 2021 and a lecturer of the School of Business of East China University of Science and Technology from 2009 to 2011. Ms. Tang was a visiting scholar at the City University of New York from 2014 to 2015. Ms. Tang graduated from Hunan University in the PRC in 2003 with a Bachelor degree in Accounting. Ms. Tang graduated from Hunan University in the PRC in 2006 with a Master's degree in Accounting. In 2009, Ms. Tang graduated from Shanghai Jiao Tong University with a PHD in Finance. From 2017 to 2023, Ms. Tang served as an independent director of Shanghai Cimic Tile Co., Ltd., a company listed on the Shenzhen Stock Exchange. From 2020 to 2023, Ms. Tang also served as an independent director at Shanghai Yaoji Technology Co., Ltd., a company listed on the Shenzhen Stock Exchange. Since 2022, Ms. Tang has served as an independent director of Shanghai No.1 Pharmacy Co Ltd, a company listed on the Shanghai Stock Exchange and an independent non-executive director and chairman of the audit committee of Linmon Media Limited, a company listed on The Stock Exchange of Hong Kong. Ms. Tang has been appointed as the chairman of the audit committee of the Company, a member of each of the remuneration committee and the environmental, social and governance committee of the Company, all with effect from 20 December 2024. Annuncio • Oct 23
China Dongxiang (Group) Co., Ltd. to Report First Half, 2025 Results on Nov 27, 2024 China Dongxiang (Group) Co., Ltd. announced that they will report first half, 2025 results on Nov 27, 2024 Annuncio • Oct 08
China Dongxiang (Group) Co., Ltd. Announces Resignation of Chen Guogang as Independent Non-Executive Director, the Chairman of the Audit Committee of the Board, Member of Remuneration Committee and Environmental, Social and Governance Committee The board of directors of China Dongxiang (Group) Co., Ltd. announced that with effect from 8 October 2024, the resignation of Chen Guogang as independent non-executive Director, the chairman of the audit committee of the Board, a member of the remuneration committee of the Board and a member of the environmental, social and governance committee in order to devote more time to his personal commitments. New Risk • Oct 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Paying a dividend despite being loss-making. Annuncio • Aug 22
China Dongxiang (Group) Co., Ltd. Approves Final Dividend for the Year Ended 31 March 2024 China Dongxiang (Group) Co., Ltd. at its AGM held on 21 August 2024 approved to declare a final dividend of 0.51 RMB cents per ordinary share of the Company for the year ended 31 March 2024. Annuncio • Jun 27
China Dongxiang (Group) Co., Ltd., Annual General Meeting, Aug 21, 2024 China Dongxiang (Group) Co., Ltd., Annual General Meeting, Aug 21, 2024. Reported Earnings • Jun 27
Full year 2024 earnings released: CN¥0.11 loss per share (vs CN¥0.02 profit in FY 2023) Full year 2024 results: CN¥0.11 loss per share (down from CN¥0.02 profit in FY 2023). Revenue: CN¥1.74b (up 3.9% from FY 2023). Net loss: CN¥639.4m (down CN¥754.4m from profit in FY 2023). Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 35% per year, which means it has not declined as severely as earnings. Annuncio • Jun 26
China Dongxiang (Group) Co., Ltd. Proposes Final Special Dividend for the Year Ended 31 March 2024, Payable on 11 September 2024 China Dongxiang (Group) Co., Ltd. Proposed final special dividend of RMB 0.0051 per share for the year ended 31 March 2024. Ex-dividend date 26 August 2024. Record date 30 August 2024. Payment date 11 September 2024. Date of shareholders' approval 21 August 2024. New Risk • Jun 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Share price has been volatile over the past 3 months (9.6% average weekly change). Large one-off items impacting financial results. Annuncio • May 12
China Dongxiang (Group) Co., Ltd. to Report Fiscal Year 2024 Results on Jun 26, 2024 China Dongxiang (Group) Co., Ltd. announced that they will report fiscal year 2024 results on Jun 26, 2024 Buy Or Sell Opportunity • May 03
Now 27% undervalued Over the last 90 days, the stock has risen 19% to €0.04. The fair value is estimated to be €0.055, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 479% in the next 2 years. Buy Or Sell Opportunity • Apr 22
Now 20% undervalued Over the last 90 days, the stock has risen 52% to €0.041. The fair value is estimated to be €0.051, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 328% in the next year. Buy Or Sell Opportunity • Apr 03
Now 21% undervalued Over the last 90 days, the stock has risen 18% to €0.04. The fair value is estimated to be €0.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 328% in the next year. Buy Or Sell Opportunity • Feb 08
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €0.03. The fair value is estimated to be €0.038, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 328% in the next year. Buy Or Sell Opportunity • Jan 23
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 8.5% to €0.027. The fair value is estimated to be €0.034, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings are forecast to grow by 328% in the next year. Buying Opportunity • Jan 18
Now 21% undervalued Over the last 90 days, the stock is up 1.7%. The fair value is estimated to be €0.038, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings is forecast to grow by 328% in the next year. Buying Opportunity • Nov 30
Now 26% undervalued after recent price drop Over the last 90 days, the stock is down 3.3%. The fair value is estimated to be €0.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 11% in a year. Earnings is forecast to grow by 328% in the next year. Reported Earnings • Nov 24
First half 2024 earnings released: CN¥0.07 loss per share (vs CN¥0.059 loss in 1H 2023) First half 2024 results: CN¥0.07 loss per share (further deteriorated from CN¥0.059 loss in 1H 2023). Revenue: CN¥776.0m (flat on 1H 2023). Net loss: CN¥409.7m (loss widened 18% from 1H 2023). Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 7.5% growth forecast for the Luxury industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 34 percentage points per year, which is a significant difference in performance. Annuncio • Nov 23
China Dongxiang (Group) Co., Ltd. Declares Special Interim (Semi-Annual) Dividend for Period Ended 30 September 2023, Payable on 22 December 2023 China Dongxiang (Group) Co., Ltd. declared special interim (Semi-annual) dividend of RMB 0.0071 per share for period ended 30 September 2023. The dividend is payable on 22 December 2023 with Ex-dividend date of 05 December 2023 and record date 11 December 2023. Annuncio • Oct 20
China Dongxiang (Group) Co., Ltd. to Report Q2, 2024 Results on Nov 22, 2023 China Dongxiang (Group) Co., Ltd. announced that they will report Q2, 2024 results on Nov 22, 2023 Annuncio • Oct 01
China Dongxiang (Group) Co., Ltd. Announces CEO Changes China Dongxiang (Group) Co., Ltd. announced that the board of directors of the Company announced that Mr. Zhang Zhiyong has tendered his resignation as the chief executive officer of the company,with effect from 29 September 2023 . The Board also announced that in place of Mr. Zhang, Ms. Chen Chen has been appointed as the chief executive officer of the Company each with effect from 29 September 2023. She is aged 37, has been acting as the Board's co-chairman, the co-president, an executive director and a member of the executive committee of the Company. She is primarily responsible for overseeing the marketing and design of Kappa products of the Company. Ms. Chen joined the Company in 2012 -- she served as product planning representative in the apparel planning team of the Company from 2012 to 2013, and was promoted as the manager of the marketing department and the apparel design department and the vice president of the brand department in 2013. Since December 2014, Ms. Chen has served as an executive director and a member of the executive committee of the Company. Since February 2018, she has acted as the Company's co-president. In March 2022, Ms. Chen was appointed as the Board's co-chairman. Ms. Chen obtained a bachelor's degree in Fashion Design Technology -- Surface Textiles from University of the Arts -- London College of Fashion, London, the United Kingdom in 2010. Ms. Chen is the daughter of Mr. Chen Yihong the Board's chairman, an executive director of the Company and the controlling Shareholder. Annuncio • Aug 17
China Dongxiang (Group) Co., Ltd. Approves the Final Dividend for the Year Ended 31 March 2023 China Dongxiang (Group) Co., Ltd. in its Annual General Meeting held on 16 August 2023 approved the final dividend of 0.49 cents per ordinary share of the Company for the year ended 31 March 2023. New Risk • Jun 26
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. Cash payout ratio: 95% Dividend yield: 1.7% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risks Dividend is not well covered by cash flows (95% cash payout ratio). Large one-off items impacting financial results. New Risk • Jun 22
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (21% average weekly change). Minor Risk Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Reported Earnings • Jun 22
Full year 2023 earnings released: EPS: CN¥0.02 (vs CN¥0.29 loss in FY 2022) Full year 2023 results: EPS: CN¥0.02 (up from CN¥0.29 loss in FY 2022). Revenue: CN¥1.68b (down 12% from FY 2022). Net income: CN¥115.0m (up CN¥1.84b from FY 2022). Profit margin: 6.8% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Reported Earnings • Dec 02
First half 2023 earnings released: CN¥0.066 loss per share (vs CN¥0.13 loss in 1H 2022) First half 2023 results: CN¥0.066 loss per share (improved from CN¥0.13 loss in 1H 2022). Revenue: CN¥776.3m (down 8.9% from 1H 2022). Net loss: CN¥386.2m (loss narrowed 48% from 1H 2022). Revenue is forecast to grow 5.7% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Luxury industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Nov 30
Upcoming dividend of HK$0.013 per share Eligible shareholders must have bought the stock before 07 December 2022. Payment date: 20 December 2022. The company last paid an ordinary dividend in August 2012. The average dividend yield among industry peers is 2.3%. Buying Opportunity • Nov 26
Now 28% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €0.05, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Meanwhile, the company became loss making. Annuncio • Nov 23
China Dongxiang (Group) Co., Ltd. Resolves to Declare Interim Special Dividend for the Six Months Ended 30 September 2022, Payable on or Around 20 December 2022 The board of directors of China Dongxiang (Group) Co., Ltd. has resolved to declare an interim special dividend of 1.17 RMB cents (equivalent to 1.27 HK cents) per ordinary share for the six months ended 30 September 2022, amounting to approximately RMB 68,884,000. The interim special dividend will be paid in HK Dollars based on the rate of HKD 1.00 = RMB 0.91859 being the official exchange rate of HK Dollars against Renminbi as quoted by the People's Bank of China at 22 November 2022. The dividends will be paid on or around 20 December 2022 to shareholders whose names appear on the register of members of the Company on 13 December 2022. Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Alvin Liu was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Oct 30
China Dongxiang (Group) Co., Ltd. to Report Q2, 2023 Results on Nov 23, 2022 China Dongxiang (Group) Co., Ltd. announced that they will report Q2, 2023 results on Nov 23, 2022 Reported Earnings • Jun 23
Full year 2022 earnings released: CN¥0.29 loss per share (vs CN¥0.32 profit in FY 2021) Full year 2022 results: CN¥0.29 loss per share (down from CN¥0.32 profit in FY 2021). Revenue: CN¥1.92b (down 2.7% from FY 2021). Net loss: CN¥1.73b (down 193% from profit in FY 2021). Over the next year, revenue is forecast to grow 15%, compared to a 14% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Annuncio • Jun 23
China Dongxiang (Group) Co., Ltd., Annual General Meeting, Aug 17, 2022 China Dongxiang (Group) Co., Ltd., Annual General Meeting, Aug 17, 2022. Annuncio • Jun 04
China Dongxiang (Group) Co., Ltd. Provides Group Earning Guidance for the Twelve Months Ended 31 March 2022 China Dongxiang (Group) Co., Ltd. provided group earning guidance for the twelve months ended 31 March 2022. The Group expects to record a net loss attributable to the equity holders of not more than RMB 1,800 million for the twelve months ended 31 March 2022 as compared to a net profit attributable to the equity holders of approximately RMB 1,811 million for the twelve months ended 31 March 2021. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director Alvin Liu was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Recent Insider Transactions • Mar 15
Founder & Executive Chairman recently bought €308k worth of stock On the 10th of March, Yihong Chen bought around 5m shares on-market at roughly €0.058 per share. In the last 3 months, they made an even bigger purchase worth €365k. Yihong has been a buyer over the last 12 months, purchasing a net total of €1.6m worth in shares. Recent Insider Transactions • Mar 02
Founder & Executive Chairman recently bought €214k worth of stock On the 24th of February, Yihong Chen bought around 3m shares on-market at roughly €0.071 per share. In the last 3 months, they made an even bigger purchase worth €365k. Yihong has been a buyer over the last 12 months, purchasing a net total of €1.3m worth in shares. Recent Insider Transactions • Feb 15
Founder & Executive Chairman recently bought €178k worth of stock On the 8th of February, Yihong Chen bought around 2m shares on-market at roughly €0.076 per share. This was the largest purchase by an insider in the last 3 months. Yihong has been a buyer over the last 12 months, purchasing a net total of €317k worth in shares. Annuncio • Aug 20
China Dongxiang (Group) Co., Ltd. Approves to Declare Final Special Dividend for the Twelve Months Ended March 31, 2021 At the AGM Held on August 18, 2021 China Dongxiang (Group) Co., Ltd. approved to declare a final special dividend of RMB 0.0154 (equivalent to HKD 0.0185) per share for the twelve months ended March 31, 2021 to the shareholders of the Company at the AGM held on August 18, 2021. Upcoming Dividend • Aug 16
Upcoming dividend of HK$0.061 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 08 September 2021. Trailing yield: 13%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (0.7%). Reported Earnings • Jun 25
Full year 2021 earnings released: EPS CN¥0.32 (vs CN¥0.062 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: CN¥1.97b (up 7.0% from FY 2020). Net income: CN¥1.87b (up 409% from FY 2020). Profit margin: 95% (up from 20% in FY 2020). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jan 10
Founder & Executive Chairman recently bought €154k worth of stock On the 7th of January, Yihong Chen bought around 2m shares on-market at roughly €0.083 per share. In the last 3 months, they made an even bigger purchase worth €498k. Yihong has been a buyer over the last 12 months, purchasing a net total of €3.1m worth in shares. Recent Insider Transactions • Jan 06
Founder & Executive Chairman recently bought €126k worth of stock On the 30th of December, Yihong Chen bought around 2m shares on-market at roughly €0.084 per share. In the last 3 months, they made an even bigger purchase worth €498k. Yihong has been a buyer over the last 12 months, purchasing a net total of €2.7m worth in shares. Recent Insider Transactions • Dec 02
Founder & Executive Chairman recently bought €498k worth of stock On the 30th of November, Yihong Chen bought around 5m shares on-market at roughly €0.10 per share. This was the largest purchase by an insider in the last 3 months. Yihong has been a buyer over the last 12 months, purchasing a net total of €397k worth in shares. Reported Earnings • Nov 28
First half 2021 earnings released: EPS CN¥0.19 First half 2021 results: Revenue: CN¥899.0m (flat on 1H 2020). Net income: CN¥1.12b (up 493% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Annuncio • Nov 03
China Dongxiang (Group) Co., Ltd. to Report Q3, 2020 Results on Nov 25, 2020 China Dongxiang (Group) Co., Ltd. announced that they will report Q3, 2020 results on Nov 25, 2020 Annuncio • Oct 08
China Dongxiang (Group) Co., Ltd. Announces Distribution and License Agreement in Relation to Phenix Trademarks China Dongxiang (Group) Co., Ltd. announce that on 7 October 2020, the Company as licensor (the Licensor), Shiffon Co., Ltd. as licensee (the Licensee) and the Licensee's actual controller as the licensee's guarantor (the Guarantor') entered into a distribution and license agreement, pursuant to which the Licensor granted to the Licensee an exclusive right to utilize certain ``Phenix'' trademarks in connection with the design, manufacture, sales and marketing of certain products within Japan and other regions including certain European regions, Korea, Australia and the United States of America (other than the People's Republic of China (PRC')) where the Group owns the trademark rights in connection with the Phenix' brand. The term of the Agreement is three years and three months from 1 January 2021 to 31 March 2024, with an option to extend for a further two years as agreed by the parties to the Agreement. To the best of the Directors' knowledge, information and belief having made all reasonable enquiries, the Licensee, its ultimate beneficial owners and the Guarantor are third parties independent of each of the Company and its connected persons. 
