Firstextile AG: Appropriation of Net Income

Ad hoc announcement according to § 15 WpHG

Frankfurt am Main, (PresseBox) - The Management Board of Firstextile AG (ISIN DE000A1PG8V8/ WKN A1PG8V) has decided, to propose to the Annual General Meeting on 24 June 2014, to carry forward to new account the net profit of EUR 3,563,175.88 reported in the financial statements of Firstextile AG. Firstextile AG plans to use the existing financial resources for the expansion of the production capacity on a first priority.

Firstextile AG

Firstextile is one of the leading manufacturers of high-end yarn-dyed fabrics in the Chinese market. It also markets fabrics and shirts specifically designed for uniforms used by Chinese government institutions and enterprises, as well as its own branded men's wear for the Chinese premium market segment. The company operates modern production facilities in Jiangyin near Shanghai, China, which is one of the main centres of the Chinese textile industry, and it focuses particularly on high product-quality. Net proceeds from the successful completion of the IPO in November 2012, will primarily be used to double annual production capacity from the current 36 million metres to 72 million metres by the end of 2014.

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