SHISHI, China, Jan. 22, 2019
/PRNewswire/ -- KBS Fashion Group Limited ("KBS" or the "Company")
(NASDAQ: KBSF), a leading fully-integrated casual menswear company
in China, today announced that the Company expects its first
half of 2019 to have strong numbers in sales and profits.
During the first two weeks of January, the Company signed two
garment processing framework contracts with Hangzhou Muxue Garment
Co., Ltd., a regional brand clothing company mainly engaging in
offline wholesale of women's woolen coats and Hangzhou Jiesong
Garment Co., Ltd., which is in the business of selling women's
clothing under the brand name of Manzi Yage. These two contracts
are valued at RMB 7.8 million and
RMB 4 million, respectively. Under
the contracts, The company will manufacture a variety of clothing
items including approximately 170,000 pieces for Hanzhou Muxue and
90,000 pieces for Hanzhou Jiesong.
Mr. Keyan Yan, Chief Executive Officer of the Company
commented, "We are very pleased to
announce these newly signed contracts, after we successfully
renewed contracts with the existing customers -- Hangzhou Ziyin and
Hangzhou Yiyuan. The management expects to have a profitable first
half of 2019 and we are optimistic of the company's performance in
2019."
About KBS Fashion Group Limited
Headquartered in Shishi, China, KBS Fashion Group Limited,
through its subsidiaries, is engaged in the business of designing,
manufacturing, selling and distributing its own casual menswear
brand, KBS, through a network of 38 KBS branded stores (as
of September 30, 2018) and over a number of multi-brand
stores. To learn more about the Company, please visit its corporate
website at www.kbsfashion.com.
Safe Harbor Statement
This press release may contain certain "forward-looking
statements" relating to the business of KBS Fashion Group Limited,
and its subsidiary companies. All statements, other than statements
of historical fact included herein, are "forward-looking
statements" in nature within the meaning of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements,
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
unknown risks and uncertainties. Although the Company believes that
the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Investors should
not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
For further information, please contact:
Lisa Tu
Chief Financial Officer
T: +86 158-5972-2469
E: lingsantu@hotmail.com
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SOURCE KBS Fashion Group Limited