DGAP-Adhoc: Ming Le Sports AG: Investment in shoe sole production facility

Ming Le Sports AG / Key word(s): Strategic Company Decision

23.06.2013 12:54

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ming Le Sports AG: Investment in shoe sole production facility

Frankfurt, June 23, 2013 - Ming Le Sports AG, a rapidly growing branded
sportswear company in China, intends to establish an own shoe sole
production facility. With the approval of the Supervisory Board, the
management plans to invest the total sum of around 80 million Euros (around
650 million Renminbi). The investment includes land acquisition, the
construction of the building, machinery as well as working capital and will
be financed by cash on hand and future cash flow from operation.

The construction is anticipated to start by the end of 2013 and to be
completed in 2015. With a factory floor space of 60,000 square metres the
new facility will dispose of an annual production capacity of around 12.0
million pairs of shoe soles. By insourcing the shoe sole production, the
company expects to enhance the gross profit margin.

Furthermore, once the shoe sole production plant will have started its
operation, Ming Le will have a better control regarding the timing and
product quality of its footwear. Finally the new facility will allow Ming
Le to register exclusive patents and copyrights for innovative shoe soles
and protect the intellectual property of Ming Le.

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Information and Explaination of the Issuer to this News:

About Ming Le Sports AG

Ming Le Sports AG is a rapidly growing branded sportswear company in China
targeting 16 to 35-year-old men and women who lead an urban, vibrant and
active lifestyle. Ming Le's products include footwear, apparel, accessories
and equipment. The company strives to offer comfortable, fashionable and
affordable lifestyle and leisure sportswear. Ming Le designs its own
products and manufactures them at Ming Le's facilities or through contract
manufacturers. Ming Le markets and sells its products through a network of
26 distributors to over 3,900 retail outlets in China. At present, Ming Le
has about 1,350 employees.

For further information, please contact:

Kirchhoff Consult AG
Dr. Kay Baden
Tel: +49(0) 40 609 186 39
Mail: baden@kirchhoff.de

Or visit www.mingle-sportswear.com

Disclaimer concerning prognoses

This communication contains forward-looking statements Forward-looking
statements are statements that are not historical facts instead they
reflect the current views and expectations of Ming Le Sports and the
assumptions underlying them about future events. Forward-looking statements
are subject to many risks and uncertainties. If any of such risks and
uncertainties materialize or if the assumptions underlying any of the
forward-looking statements of Ming Le Sports are proving to be incorrect,
the actual results of Ming Le Sports may be materially different from those
expressed or implied by such forward-looking statements. Ming Le Sports
does not intend or assume any obligation to update these forward-looking
statements. Any forward-looking statement speaks only as of the date on
which it is made.

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Language: English
Company: Ming Le Sports AG
Westhafenplatz 1
60327 Frankfurt am Main
Germany
Phone:
Fax:
E-mail:
Internet: www.mingle.cn
ISIN: DE000A1MBEG8
WKN: A1MBEG
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf

End of Announcement DGAP News-Service

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