EXCEED COMPANY LTD.
2010 SECOND QUARTER FINANCIAL RESULTS
Fujian, China, August 23, 2010 - Exceed Company Ltd. (NASDAQ: EDS) (“Exceed” or “the Company”), the
owner and operator of “Xidelong” brand - one of the leading domestic sportswear brands in China, today
released its unaudited financial results for the second quarter ended June 30, 2010.
Financial Highlights – Second quarter ended June 30, 2010
Shuipan Lin, Exceed’s founder, Chairman and CEO, commented, “I am pleased to report a strong set of results
for the second quarter of 2010. We continue to benefit from macroeconomic trends and the quickly-growing
consumer market in China, particularly in China’s second- and third-tier cities. Our advertising campaign
enhanced our brand recognition and helped us to create a strong demand from our end customers and to achieve
a higher price premium; this encouraged our distributors to expand our sales network and further drove our
revenue growth during the quarter. Diligent production cost controls also contributed to our improved gross
margin during the period.
“The growing need for sportswear products that is linked to a changing lifestyle in China will continue to fuel
demand for our products. The recent minimum wage increase will further drive demand in third-tier cities, where
we have a strong market position and which continue to be our target market segment. With our focused growth
strategy to deepen our market penetration within targeted segments and to further enhance our brand value
through effective marketing initiatives, we are confident that we will be able to fully leverage the market
opportunity and deliver significant growth in the coming quarters.”
The Company’s reporting currency is Renminbi (“RMB”). RMB numbers included in this press release have been
translated into U.S. dollars at the noon buying rate for U.S. Dollars in effect on June 30, 2010 in the City of New
York for cable transfers in RMB per U.S. dollar as certified for customs purposes by t