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China Xiniya Fashion discusses outlook for new production facility in China

China Xiniya Fashion assistant to the chairman Jianeng Pan said the company is awaiting approval from the government to acquire land use rights for the facilities. The budget for the facilities, including the land use rights, is expected to be approximately $94M. He added that the facilities will be built in several phases over the next five years and that construction is expected to be funded with the proceeds from the IPO and internally generated cash.