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Meike International Holdings Ltd Comments On H1 2013 Earnings Guidance

Wednesday, 3 Jul 2013 11:00am EDT 

Meike International Holdings Ltd announced that for the first half of 2013, it expects loss as compared to the loss for the first half of 2012. This is mainly due to: domestic demand is still stagnant, competition within the sportswear industry in China is still intensive which results in higher product discount offering in the market; the excessive inventory at the distribution channel level in the industry remains a challenge to the distributors; and the Group has reduced the distributor’s volume sales order for the first and second quarter in 2013 as the Group’s integration programme of the distribution channel with our distributors is still in progress. 

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