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Guangzhou Canudilo Licensed with Italian Brand

February 20, 2014

GUANGZHOU, February 20, SinoCast -- Guangzhou Canudilo Fashion and Accessories Co., Ltd. (SZSE: 002656) revealed gross operating revenue of CNY 799 million in 2013, rising 25.65% from a year earlier. Net profit attributable to shareholders reached CNY 150 million, declining 14.98%. Basic EPS were CNY 0.75.

Meanwhile, wholly owned Hong Kong subsidiary has inked agreement with LANIFICIO ANGELICO S.R.L from Italy, licensed to operate Angelico Collezione brand, sell products and use trademarks in certain regions. Both sides will respectively set up entities for operating Angelico Collezione brand and kick off cooperation in the form of mutual equity investment. Formal agreement will be inked before December 2014.

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Source: Sinocast Consumer Products Beat (China)

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