HONG KONG, June 25, 2012 /PRNewswire-Asia/ -- Hengdeli Holdings Limited ("Hengdeli" or the "Company"and, together with its subsidiaries, the "Group"; stock code: 3389), a world-leading retailer and distributor of internationally renowned brand watches, announced that the Company repurchased its shares again last Friday, and that it repurchased a total of 4,800,000 shares this month at an average price of HK$2.14 per share as at 22 June 2012.
Mr. Zhang Yuping, Chairman and Chief Executive Officer of Hengdeli, said, "The share repurchase shows the Group's confidence in its outlook and value. Despite volatilities in global markets, the Group remains optimistic about China's economy and the industry prospect. The Company maintains its normal operations and steady growth. Under conditions favourable to the Company and the shareholders, we will continue to repurchase shares at the right time. We will grasp opportunities and strive to enhance our leading position in the internationally renowned brand watch retail market to reward the shareholders and community."
About Hengdeli Holdings Limited
Hengdeli Holdings Limited is the largest retailer of internationally renowned brand watches in the world. The Group's strategic shareholders include Swatch Group, the world's largest watch manufacturer and distributor, and LVMH Group, a global luxury giant.
The Group owns an extensive retail network that includes Elegant (for top-grade internationally renowned brand watches), Prime Time/Hengdeli (for middle-to-high-end renowned brand watches), With Time (for high-end fashion watches) and single-brand boutiques. As at 31 December 2011, Hengdeli had an extensive sales network of 405 retail outlets in Mainland China, Hong Kong, Taiwan and Macau, through which it distributes over 50 internationally renowned watch brands. Across its entire wholesale business, Hengdeli serves approximately 400 wholesale customers in nearly 100 major cities.
As an integral part of the retail business, the Group runs a top-rate customer service, which provides professional after-sale service to customers in Mainland China, Hong Kong and Taiwan. The Group's related production company also provides strong support for its principal business.
The Group maintains good relationships with numerous brand suppliers of internationally famous watches, including the SWATCH Group, the LVMH Group, the RICHEMONT Group and the ROLEX Group. Hengdeli also distributes numerous internationally renowned watch brands, mostly on exclusive basis.
Hengdeli has been listed on the Main Board of the Stock Exchange of Hong Kong Limited since September 2005 under stock code 3389. The stock name is Hengdeli for short.
For enquiries, please contact:
Hengdeli Holdings Limited
Ms. Ruby Chan
+852-2375-2323/ +852-6120-0106
ruby.chan@hengdeli.com.hk
Fax: +852-2375-8010
Porda Havas International Finance Communications Group
Ms. Kelly Fung
+852-3150-6763 / +852-9289-2974
kelly.fung@pordahavas.com
Ms. Natalie Yung
+852-3150-6752 / +852-6503-0678
natalie.yung@pordahavas.com
Fax: +852-3150-6728
