Looking back on these ten years, it was an extraordinary decade. XTEP has realized the transformation from a manufacturing enterprise to a brand enterprise. The group was listed in Hong Kong in 2008, marking the transformation of XTEP from a family business to a public enterprise. Over the past ten years, we have been committed to improving our corporate governance capabilities, focusing on internal control, public disclosure and responsibility to all shareholders. At the same time, XTEP insists on maintaining transparent, accurate and timely communication with shareholders, research analysts, the investment industry and the public to enhance investors' trust in us. Within ten years, the group continued to promote strategic changes, rapidly improving XTEP's brand, retail and product capabilities, continuously improving corporate profitability, and achieving self-transcendence.
Mr. Ding Shuibo, Chairman of XTEP International, took a group photo with the head of the Listing Committee of the Hong Kong Stock Exchange
XTEP began another transformation in 2015 and completed strategic changes in 2017. XTEP has successfully transformed from a fashionable sports brand to a leading professional sports fashion brand in China. Our image with running as the core has been widely accepted by consumers. We will continue to work hard to build the brand of choice for Chinese runners.
In order to celebrate the tenth anniversary of XTEP's listing and to reward shareholders for their continued support, the group's board of directors decided to allocate an additional 10 Hong Kong cents as a special dividend for the tenth anniversary of listing on June 6, 2018. This not only reflects XTEP's confidence in having strong funds, but also reflects our We are confident in the group's future profitability. Since its listing, XTEP has paid out a total of nearly RMB 3.9 billion in dividends, with the dividend payout ratio continuing to be higher than 50%.
The XTEP International Board of Directors took a group photo at the 2018 Annual General Meeting of Shareholders
After being listed for ten years, XTEP would like to thank all shareholders, business partners and customers for their support, understanding and trust in the Group. We also sincerely thank the board members, management team and all employees for their investment and contribution to the Group. In the future, the Group will continue to actively promote our business strategies, operate our company more steadily and healthily, and create greater value for shareholders. We firmly believe that as China’s “National Fitness” craze continues to penetrate into third- and fourth-tier cities, relying on our years of understanding and insight into the Chinese sports industry and Chinese consumers, and constantly updating our own awareness, XTEP will usher in a more brilliant future. A decade!
