Annunciation will raise 800 million new funds to set up 178 stores

The Annunciation announced today that the stock issuance program has been approved by the China Securities Regulatory Commission's Issuance and Examination Committee, and that Shengxi Bird will raise RMB 800 million to raise 178 new stores.

Announcement of Annunciation disclosed that on October 16, 2009, the 107th working meeting of the China Securities Regulatory Commission's Issuance Review Committee in 2009 examined the company's public offering of A shares. According to the audit results, the company's public issuance of A-shares was conditionally approved.

According to the plan announced in July this year, the total number of additional shares that Annuncier will issue will not exceed 65 million shares, and the total amount of funds raised will not exceed 800 million yuan. The purpose of the raised funds is to increase the number of Herald Bird Stores, which further strengthens the company's marketing network construction. It is planned to establish 18 image center stores, 80 sales center stores, and 80 fashion stores. It is expected that after the completion of the project construction, there will be an increase of 178 Annunciation chain marketing stores, with an additional sales area of ​​46,400 square meters.

As of the end of June 2009, there were a total of 668 Annuncier brand outlets and a total of 73 S.ANGELO fashion brand outlets.