Zungui Haixi Corporation

Zungui Haixi Corporation

April 26, 2011 16:00 ET

Zungui Haixi Announces 31% Increase in Sales Orders

TORONTO, ONTARIO--(Marketwire - April 26, 2011) -Zungui Haixi Corporation (TSX VENTURE:ZUN), a China-based manufacturer of sportswear and casual footwear, announced that the sales orders for its sports footwear and apparel line increased 31% over the previous year from its' recently held sales fair. The Company's 25 sportswear distributors attended the semi-annual sales fair last month held in Shishi City, Fujian Province for the upcoming 2011 Fall and Winter season.

"We are pleased with the percentage increase in sales orders which is above leading sportswear brands in China and demonstrates our success in continuing to build the Zungui brand, supported by our 'Play Sport, Show Ability' advertising strategy," said Mr. Yanda Cai, Chief Executive Officer of Zungui. "We remain focused on enhancing our product offering for customers; leveraging the robust growth and consumer demand from Tier 2 and 3 cities in China, with populations ranging up to 5 million; and maintaining strong revenue growth in our main markets."

The sales fairs are generally held twice a year, in spring and fall. The Company receives approximately 70% of the total annual distributor orders during these sales fairs. The Company is continuing with its advertising strategy of 'Play Sport, Show Ability' launched in late 2010 to support our fashion and leisure based sports products.

About Zungui Haixi

Zungui Haixi Corporation, through its wholly owned subsidiaries, is engaged in the manufacture and sale of athletic footwear, apparel and accessories, and also casual footwear, in the People's Republic of China. Both product lines are marketed under the ZUNGUI brand. Zungui Haixi distributes its products to consumers throughout China through an extensive network of retail outlets which exclusively carry ZUNGUI branded products. There are 62,080,400 common shares issued and outstanding. The corporate website is www.zunguihaixi.com.

Caution Regarding Forward-Looking Statements

Certain statements in this press release contain forward-looking information that involve risk and uncertainties. Statements other than statements of historical fact contained in this press release may be forward-looking statements within the meaning of certain securities laws, including, without limitation, statements involving management's expectations, intentions and beliefs concerning the domestic PRC sportswear industry, the competitive landscape in this industry and the general economy, statements regarding the future financial position or results of the Company, business strategies, proposed acquisitions, growth opportunities, budgets, litigation, projected costs and plans and objectives of or involving the Company. Such statements should be considered forward-looking statements, Wherever possible, words such as "may", "would", "could", "will", "anticipate", "believe", "plan", "expect", "intend", "estimate", "aim", "endeavour", "project", "continue" and similar expressions have been used to identify forward-looking statements.

These forward-looking statements reflect management's current beliefs and business judgement with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions, and you should not place undue reliance on these forward-looking statements. Although management believes its current beliefs and assumptions are reasonable, many factors could cause Zungui's actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, those listed in the "Risk Factors" section of the Company's other filings with Canadian securities regulatory authorities at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this press release. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. These forward-looking statements are made as of and speak as of the date of this press release and the Company does not intend to, or assume any obligation to, update or revise these forward-looking statements to reflect new information, events, results or circumstances or otherwise after the date on which such statement is made as to reflect the occurrence of unanticipated events, except as required by law, including securities laws.

Contact Information

  • Zungui Haixi Corporation
    Ms. Shelly Gobin
    Chief Financial Officer