[ET Net News Agency, 15 June 2018] ANTA Sports Products (02020), Xtep International
(01368), 361 Degrees (01361) and China Dongxiang (03818) each issued an announcement to
clarify allegations in a market research report published by GMT Research Limited
recently.
ANTA Sports vigorously denies the speculations contained in the report and considers
them to be inaccurate and misleading. It is seeking legal advice on this matter and
reserves the right to take legal actions.
Xtep International states that all the allegations implicating corporate frauds on the
part of, among others, the company in the report are false, groundless and misleading. No
accounting fraud has ever been committed. Xtep reserves its right to take legal action for
damages or other relief against GMT Research Limited and/or associated individual(s).
361 Degrees clarified that all adverse allegations against, and inferences and
conclusions drawn on, the Group as contained in the report are incorrect and misleading
having considered the actual situation of the Group. 361 Degrees reserves the rights to
take all appropriate actions to protect its legitimate interest, including but not limited
to taking legal actions against any defamatory attack on the Group.
China Dongxiang noted that the report contains certain unfounded allegations concerning
the Group and its financial performance, in particular regarding its inventory management
and cash flows. It categorically denies and refutes all such allegations contained in the
report and considers them to be inaccurate, groundless and malicious. It is seeking legal
advice on this matter and reserves the right to take legal action(s) and/or other relief
against such entity(ies) and/or associated individual(s) responsible for the report. (HL)