Peak Sport Donates RMB20 Million to Quanzhou Charity Association Promoting Charity
HONG KONG, Feb. 2 /PRNewswire-Asia/ -- Peak Sport Products Co., Limited ("Peak Sport" or the "Company", HKEx Stock Code: 1968, together with its subsidiaries, the "Group"), a well-known branded sport products company in China, announced on 28 January 2010 that the Group further donated RMB20 million to Quanzhou Charity Association making the Group's agreed total donation amount to RMB50 million. Peak Sport will pay off the donation through annual installments.
Starting from June 2007, Peak Sport signed an agreement with Quanzhou Charity Association to establish a RMB10 Million's Peak Charity Fund ("the Fund") for supporting the development of education and medical services, as well as providing assistance to people with disabilities and others who need help. Up to 2008, the Fund has accumulated to RMB30 million, and by adding this donation, the total amount of the Fund reaches RMB50 million.
Mr. XU Zhihua, Chief Executive Officer and Executive Director of Peak Sport, said: "As a member of the community, it is our responsibility to participate in charity. Peak Sport has been receiving a lot of help and support from various sectors of the society in each stage of our development. As Peak Sport has grown up healthily, we have a responsibility to contribute to the society. We will maintain the business philosophy of 'Reward the Community with Integrity, Create Value to the Community' and make contribution to the development of charity, and to promote and support the development of education, sports and social welfare."
About Peak Sport Products Co., Limited
Peak Sport Products Co., Limited is a leading branded sport products company in China and has been listed on the Main Board of The Stock Exchange of Hong Kong Limited on 29 September 2009. According to a market survey conducted by Frost & Sullivan in November 2008, "PEAK" is among the top three most recognized sports footwear and basketball footwear brands in China. Peak Sport is primarily engaged in designing, developing, manufacturing, distributing and marketing sport products (including footwear, apparel and accessories) under the "PEAK" brand. As at 31 December 2009, the number of Peak Sport's retail outlets has exceeded 6,000 and the Company's products are exported to over 70 countries. Peak Sport executes a focused marketing and branding strategy on an international platform and has become an exclusive official marketing partner of the NBA in China since October 2007.
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SOURCE Peak Sport Products Co., Limited
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