SAN FRANCISCO, March 29, 2006 (PRIMEZONE) -- Ever-Glory International Group (OTCBB:EGLY) today announced the completion and filing of its Annual Report 10-KSB submitted to the U.S. Securities and Exchange Commission.
Its completion and filing gives investors an overview of the company, including, financial statements, sales and marketing information, management structure, industry risk factors, information on customers and suppliers, etc. Among the company highlights are an increase of approximately 36% in total net sales in 2005 compared to that of 2004. Moreover, acquisition of an additional manufacturing facility has been negotiated and will be completed in 2006.
Edward Kang, President and CEO of Ever-Glory International Group, recently commented, "I am very pleased with the direction in which Ever-Glory is heading. The company is in the process of making key acquisitions, establishing greater shareholder's value and significant market channels, which will prepare a promising launch of its new brands in Europe, Japan, and the U.S. market. The outlook for Ever-Glory International Group has never been brighter than it is now in 2006."
About Ever-Glory International Group
Ever-Glory International Group (OTCBB:EGLY) is a U.S. publicly-traded company engaged in international garment manufacturing for well-known middle to high-grade casual, outer, and sportswear brands. The company's U.S. headquarters is based in Los Angeles, CA; although Ever-Glory also owns a full subsidiary company, Nanjing Goldenway Garments Co. Ltd. located in China. Ever-Glory has strategic marketing and logistics channels located in, Japan, Europe, and United States and has strategic business partners in countries and regions including China, Hong Kong, the U.S., and the U.K. The Company has long-term partnerships with many world-famous clothing companies and retailing chains. The company employs about 700 people.
For more information about Ever-Glory International Group, please visit: http://www.everglorygroup.com.
This press release contains certain "forward-looking statements," as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities.