Hengdeli Repurchases 4,108,000 Issued Shares with Full Confidence in the Company Business and Outlook

2012-06-06 20:18 940

HONG KONG, June 6, 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 4,108,000 shares at an average price of HK$2.11 per share on a consecutive of two days as of market close today, involving a total amount of HK$8,707,543.

Mr. Zhang Yuping, Chairman and Chief Executive Officer of Hengdeli, said, "The share repurchase shows the Group's full confidence in its value and future prospect. Despite Europe's debt crisis and the global economic slowdown, China's economy and market conditions are favoured by government policies to boost consumption and maintain growth. The industry outlook remains promising."

Mr. Zhang Yuping continued, "The Company maintains its usual operation. We are confident of the result enhancement and will repurchase our shares at the right time. We will strive to enhance the Group's leading position in the internationally renowned brand watch retail sector, continually boosting the return on equity to reward the great support of shareholders and the 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 
Fax: +852-2375-8010

Porda Havas International Finance Communications Group

Ms. Kelly Fung +852-3150-6763 / +852-9289-2974 
Ms. Natalie Yung +852-3150-6752 / +852-6503-0678 
Fax: +852-3150-6728
Source: Hengdeli Holdings Limited
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